Meeting demands of high-end housing
(TIAN XIUZHEN)
01/18/2002
After living in Shanghai for the last five years, Denis Gilles, who was born in Paris in France but brought up in Canada, shares the same feelings as his wife and children - this city has become a second home.As the general manager of Le Chateau, the deluxe gated community in Hongqiao peopled by expatriates, he feels the pressure, unlike his wife who is busy with social activities or his carefree kindergarten-aged children. "I like to be here not only because it is a beautiful city but also because it offers me opportunities to meet new challenges," Gilles said, beaming a smile. "That is also why I took the job after years of experience in hotel administration, my major in university." Gilles chose Asia as the destination of his professional career. He lived in Singapore and other places before settling in Shanghai, his favourite city, in 1997. In the beginning, he was with the Regal International East Asia Hotel. However last year, he found himself attracted to the new challenges of Le Chateau. "My obligation is to rent out the total 60 villas. My boss is the only one who evaluates my achievements," Gilles said. It will not be easy to rent these luxury units. The average monthly rent runs at over $10,000, which is inconceivable for the common home hunter. However, since these villas went on the market last August, Le Chateau has achieved a 30 per cent occupancy rate and continues to attract the interest of would-be tenants. Gilles said most of the tenants are top executives of big international firms, such as General Electric and Anheuser-Busch. "Without the September 11 disaster, it might have been a problem to achieve such a score," Gilles said. "But considering the outside factors, the warmth of the market and the quality of our product, things are going well," Gilles added. In Gilles' eyes, the villas are works of art rather than products. Created by a well-known designer from Hawaii and tinged with a French style, they provide opulent living. Each villa is fully equipped with modern facilities such as broadband connections and potable water, offering 600 square metres of floor space and a large white-fenced garden. "By August this year, I am supposed to raise the occupancy rate to 80 per cent, which means I have to rent out at least 30 more villas," Gilles said. He is worried but he has confidence in his rich experience in offering tenants all-round quality services and in the encouraging economic environment. "More international businesses will surely come to Shanghai pushed by the country's WTO entry, and Le Chateau will be their ideal choice," he said. Gilles is unaware of the total investment in this real estate project. But he said the developer's primary concern is welcoming international customers, not realizing a fast return. "We want to make this project into a successful showcase for the rest of the country," Gilles said. "We do not recommend other cities to copy us. It might be too dangerous."
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