Zhang Xin and her husband, Pan Shiyi, are prominent figures in the real estate industry, primarily known for their work in China and, to some extent, internationally. Below is a list of real estate and related companies associated with them, based on their well-documented business activities as of February 18, 2025. Note that their involvement with some entities may have evolved over time, especially after stepping down from leadership roles in 2022.
Real Estate and Related Companies
- Description: A Chinese office building developer focusing on commercial properties, with some residential and mixed-use projects. It is known for its modern architectural designs in Beijing and Shanghai.
- Role: Co-founded by Zhang Xin and Pan Shiyi in 1995 (initially named Hongshi, later renamed SOHO China). Zhang served as CEO and Pan as Chairman until they stepped down in September 2022 to focus on philanthropy, though they remain on the board.
- Key Details: Listed on the Hong Kong Stock Exchange in 2007, SOHO China became one of China’s largest commercial real estate developers. It shifted from a “build-to-sell” to a “build-to-hold” model in 2012 and launched the SOHO 3Q shared office space sector in 2015.
- Hongshi
- Description: The original company founded by Zhang Xin and Pan Shiyi in 1995, which later evolved into SOHO China.
- Role: This was their initial venture into real estate development before rebranding to reflect their focus on “Small Office, Home Office” (SOHO) concepts.
- Key Details: Hongshi marked the beginning of their partnership, focusing on residential and boutique projects like Commune by the Great Wall.
- Seven Valleys
- Description: A family office established by Zhang Xin and Pan Shiyi to manage their personal investments, particularly in international real estate.
- Role: Operated by the couple to diversify their fortune outside China, focusing on high-profile U.S. properties.
- Key Details: Named after a Baháʼí text (reflecting their faith), Seven Valleys holds significant stakes in New York City properties, including the General Motors Building and Park Avenue Plaza. It is based in the U.S., where Zhang and Pan have resided since at least 2021.
- Beijing Vantone Co., Ltd. (Indirectly Related)
- Description: A real estate development company co-founded by Pan Shiyi in 1992, before his partnership with Zhang Xin.
- Role: Pan Shiyi was a co-founder prior to focusing on SOHO China with Zhang. It’s not directly tied to Zhang Xin but reflects Pan’s early real estate experience.
- Key Details: Now listed on the Shanghai Stock Exchange, it operates independently of the couple’s later ventures.
- SOHO China Foundation (Related Entity)
- Description: A philanthropic organization founded by Zhang Xin and Pan Shiyi in 2005, not a real estate company per se, but tied to their business legacy.
- Role: Established to support education and poverty alleviation, it reflects their use of real estate wealth for social impact.
Notable Real Estate Investments (Not Companies)
While not standalone companies, these investments are managed through entities like Seven Valleys or SOHO China:
- General Motors Building (New York): Zhang Xin and Pan Shiyi, leading a group of investors, acquired a 40% stake in this iconic Manhattan property in 2013 for approximately $1.4 billion.
- Park Avenue Plaza (New York): The couple purchased a 49% stake in this Midtown Manhattan property in 2011 for $600 million.
Context and Updates
- Leadership Transition: In 2022, Zhang Xin and Pan Shiyi stepped down from their executive roles at SOHO China, reportedly handing over operations to focus on arts and philanthropy. This shift followed a failed $3 billion sale of SOHO China to Blackstone in 2021, blocked by Chinese regulators.
- Geographic Shift: Since 2021, the couple has been spotted frequently in New York, suggesting a pivot toward managing U.S.-based assets through Seven Valleys, though they retain influence over SOHO China as board members.
This list captures their primary real estate and related endeavors. Other ventures, such as Zhang Xin’s recent role as founder of Closer Media (a film production company), are not real estate-related and thus excluded. Their real estate legacy remains centered on SOHO China and strategic international investments.