The economic statistics for Shanghai make seriously impressive reading. The city's economy is growing by 15 per cent a year and by 2020 it is estimated that there will be as many as 50 million people living there, attracted by many factors including the co-hosting of the 2008 Olympics.

Capital growth in the property market has matched that of the city itself over the last three years and is expected to rise to 17 per cent in 2007. Unlike many other destinations, growth is being driven by increased demand from locals and prices are many times lower than in other major population centres in the region.

In the past potential investors may have been put off by the distances involved but Mark Carroll of Shanghai Vision Asset Management says that having people on the ground ensures all aspects of every investment are taken care of. , "The key question for any overseas investment is how it is managed and this is a major bonus for our investors. We are always asked how it is possible to manage an investment that is five thousand miles away, but we do everything for our clients - they never have to go the city or speak to anyone out there."

For those seeking a more immediate return on their investment, the figures for Shanghai are equally attractive. The average occupancy rate in the city is 95 per cent and rental yields of between six and eight per cent are available on units ranging from EUR 150,000 . . .

250,000.

The currency situation is also favourable for Irish investors. Because the RMB or renminbi (the official currency of the People's Republic of China) is temporarily linked to the US dollar, the rise in value of the euro means it is about 35 per cent cheaper than in the middle of the decade.

"This is the perfect time to invest, " said Carroll. "The big investment banks all predict between 20 and 40 per cent currency appreciation over the next five years and a huge number of our investors are focused on the currency gains when they invest."

This is just one reason why Financial Plaza Shanghai is drawing so much interest from Irish high net worth individuals. Located in the heart of Pudong (the financial district of Shanghai) it is one of only two residential buildings along Shanghai's main commercial thoroughfare, Century Avenue, which is modelled on the Champs Elysees Surrounded by global financial institutions such as Goldman Sachs, Morgan Stanley, and JP Morgan, the development is one of the most prestigious residential developments to come on the market in recent years.

Located next door to the only six star hotel in the city, it is just four minutes walk to Shanghai's largest metro station, Century Avenue Station and a further eight minutes to the airport via high speed train.

Shanghai is home to mainland China's most important stock exchange - The Shanghai Stock Exchange . . . and as a result thousands of companies and international organisations have relocated their regional headquarters to the city, including the World Trade Organisation.

Managed by the Days Group, a New York Stock Exchange listed company and due for completion in September, Financial Plaza Shanghai is a development of 126 high spec two and three bedroom units (which also includes a gym, several commercial units, 95 underground car parking spaces and a private swimming pool) offering a guaranteed rental yield rising to 7.5 per cent for seven years. Financial Plaza Shanghai comes with permanent tax breaks (for example, zero capital gains tax and only five per cent rental income tax) and prices start at EUR 170,000.

According to Carroll, the icing on the cake is that the exit strategy for investors has already been mapped out. The building will be sold en-bloc in one transaction in seven years time to one of the many large financial institutions currently investing heavily in Shanghai.

"This development is the biggest we have ever done at a cost of EUR 30 million and has attracted some very high level investors. More than 100 Irish people have invested in the project and it is worth pointing out that over two thirds of the investors are existing clients of Shanghai Vision Asset Management, who have identified the potential of the development and the benefit of a clearly defined exit strategy."

Established in 2001, Shanghai Vision Asset Management employs 20 people in Shanghai and offers investors a complete turnkey package including full ongoing management, rental management, repatriation of funds and sales service. It manages EUR 250 million of assets for more than 500 high net worth individuals.

For more information contact Mark Carroll, Shanghai Vision Asset Management, 26/27 Upper Pembroke Street, Dublin 2.

Tel (01) 6373995 / email markcarroll@shanghaivision. ie / website www. shanghaivision. ie

Currently on offer from Shanghai Vision Asset Management is a development called Financial Plaza Shanghai:

Located in the Pudong financial district - the financial hub of China Guaranteed yield rising to Benefit from exposure to the world's most undervalued currency which is expected to appreciate between 20%-40% Clearly defined exit strategy within 7 years Over 100 units already reserved Prices from 170,000