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China Properties Group Ltd. (1838 | CHINAPROPERTIES)



Corporate Profile


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:


A.     Large-scale theme 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 environments.


B.     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 following:


A.     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.


B.     Concord City.  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 options:


A.     the proposed Beijing Concord site at Beijing Xidan Street;

B.     the proposed Beijing Cannes site at Tongzhou District, Beijing ; and

C.     the proposed Kunshan International City site next to Lou River in Kunshan, Jiangsu province.