The Group is a property development company focusing on
developing and creating high quality, large-scale residential and commercial
projects in major cities inChina.
The Group has in the past focused, and intends to continue to focus, on
developing the following:
residential communities. These are residential projects that are
targeted at the growing middle class in China. One characteristic of these projects is
the use of distinct landscape and interior design features that are based on
varying themes and motifs. Themes
used by us in our projects include “hill-top”, “islands” and “lakeside”. In addition, we seek to develop a
comprehensive community around each of our residential projects by developing
community facilities such as schools, medical service centers, sporting venues
and restaurants. We believe our
projects provide quality living conditions in attractive
Upscale theme shopping
street developments. These are typically projects located on
prime retail streets in major cities in China which are intended to include
areas for retail, residential, entertainment, cultural and recreational
uses. Our aim to make each of these
projects both a focal point for the entire district in which it is located and a
day-trip destination for local and non-local residents.
By designing our developments to include such concepts,
we seek to distinguish our developments from those of our competitors, enhance
our brand name and improve our results of operation.
Our current property projects consist of the
Shanghai Cannes. We are developing this
large-scale residential and retail community on a site located in the Minhang
district of Shanghai. This project
has four phases with different themes, and is expected to comprise a total GFA
of approximately two million square meters. Shanghai Cannes ranked first among
private sector residential complexes in terms of GFA pre-sold in 2003, 2004 and
2006 and second in 2005, according to the Shanghai Real Estate Exchange Center,
and was recognized as “Shanghai’s No. 1 Housing Development” by the Hong Kong
Property Journal in 2002.
We are developing a large-scale integrated retail, residential and
commercial project located on Nanjing Road, one of the most well-known
shopping streets in Shanghai.
Our current plan for this project is to develop approximately 409,000
square meters of total GFA. We aim
to establish Concord City as one of the largest and highest quality
integrated residential and commercial developments in Shanghai. Currently, the Group has received a
design approval for Phase II, Concord City.
On 21 August 2007,
we have signed two agreements with an independent third party for the
acquisition of several pieces of land in Chongqing down-town with a total site area of
approximately 3,023.75 mu. These pieces of land can be developed for residential
and commercial uses. The total proposed GFA is around 2,700,000 sq.m. and the
average land cost is around RMB860 per sq.m..
The Group has been granted certain rights from our
substantial shareholder to acquire in the future the interest in the following
the proposed Beijing Concord
site at Beijing Xidan
the proposed Beijing Cannes
site at Tongzhou District, Beijing ; and
the proposed Kunshan International City site next to Lou River in
Kunshan, Jiangsu province.