Shang Properties, the development arm of the Kuok Group here in the Philippines, earned a 10 percent increase in its income for the first half of this year. Their Net income rose from P400 million in 2008 to P447 million in 2009. The increase in their net income is attributed to their higher lease incomes from both the Shangri-La Plaza mall and The Enterprise Center, amounting to P777 million for the first six months. Also, sales of residential condominiums from The St. Francis Shangri-La Place, their newest project, continued at a fast pace.