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Northern Region
| Beijing
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Highlights |
Along with the unprecedented success of the Games of the XXIX Olympiad hosted by Beijing in 2008, the new constructions of the capital and the passion of the residents have left a memorable impression on athletes, guests and audiences from around the world, greatly enhancing the international influence of the capital. In the last seven years, a total of RMB280 billion has been spent on public domains of the city such as transportation, civic facilities and environment. The world¡¯s largest single terminal construction, Beijing Capital International Airport Terminal Three is up and running and the travelling time between the airport express rail line and the city centre subway is just less than 20 minutes.
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| Property
Portfolio |
There are four major property projects under development with total GFA of 1,394,572 sq.m.. A saleable GFA of 57,265 sq.m. was completed during the year.
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| Investment
Properties |
There are nine completed investment properties with a total GFA of 498,353 sq.m..
Commercial properties in Beijing New World Centre Phase I and II with a total lettable area of approximately 122,000 sq.m..
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| Completion
Schedule |
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sq.m. |
| FY2008 |
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| Beijing Xin Yi Garden Blocks 7 & 8 |
Residential, Commercial, Carpark |
56,126 |
Beijing Xin Kang Garden Phase III |
Residential |
6,822 |
| Beijing New View Garden Phase II |
Commercial |
4,024 |
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Total 66,972 |
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| Tianjin |
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Highlights |
Binhai New District is anticipated to become the third driver of China¡¯s economy after Shenzhen and Shanghai Pudong. The ¡°Pilot Scheme Concerning the Renovation of Comprehensive Supporting Facilities in Tianjin Binhai New District¡± was approved by the State Council in 2008. In 2008, 57 projects, each with a total investment of over RMB50 million, will commence in Binhai New District. In April 2008, the State Council also approved the establishment of Binhai New District Comprehensive Bonded Area. As one of the special zones with the most favorable policies and comprehensive facilities in Mainland China, its Comprehensive Bonded Area and the already-approved Donggang Bonded Port Area would contribute to making Tianjin an international trading centre in northern China.
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| Property
Portfolio |
There are two major property projects under development with total GFA of 295,866 sq.m.. We expect to build 36,810 sq.m. GFA in FY2010.
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| Investment
Properties |
There are two completed investment properties with a total GFA of 117,659 sq.m..
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| Completion
Schedule |
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sq.m.
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| FY2010 |
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| Tianjin Xin Chun Hua Yuan Phase IV |
Residential, Carpark |
36,810
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Total 36,810
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| Jinan |
| Highlights |
Leveraging on the opportunities brought by hosting the Eleventh National Game in 2009, vast sum of money has been invested in Jinan¡¯s urban development. The Olympic Centre, the main stadium of the National Game, will be completed by the end of 2008. At the same time, major transportation development projects are under construction. Bus Rapid Transit Line No. 1 is in operation and a total of five lines have been planned to be completed before the opening of the 2009 National Game resulting in an express public transportation network. |
| Property
Portfolio |
There is one property project under development with total GFA of 222,179 sq.m.. A total saleable GFA of 159,337 sq.m. was completed during the year. We expect to build 44,300 sq.m. GFA in FY2010.
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| Completion
Schedule |
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sq.m. |
FY2008 |
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| Jinan Sunshine Garden Phase II |
Residential |
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Total 159,337 |
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FY2010 |
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Jinan Sunshine Garden Phase III |
Residential, Commercial, Carpark |
44,300 |
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Total 44,300 |
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| Shenyang |
| Highlights |
Shenyang is the largest key city in northeastern region and one of the important equipment manufacturing bases in Mainland China. Facing the strategic 29 opportunity of revitalising the old northeastern industrial base, Shenyang seeks to develop new industries with emphasis on automobile, equipment manufacturing as well as electronics and information technology. Leading enterprises such as Brilliance China Auto, Shenyang Machine Tool and Northern Heavy Industries are ranked among the ¡°World¡¯s Top 500 Manufacturing Enterprises¡±. BMW has once again chosen Shenyang as the location for its second factory in China. This new factory is expected to commence production for BMW I series during the year. The State has approved the construction of national civil aviation hi-tech industrial base in Shenyang, which is expected to be completed in 2012, ready to take up orders from Boeing and Airbus.
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| Property
Portfolio |
There are three major property projects under development with total GFA of 4,060,891 sq.m.. A saleable GFA of 143,508 sq.m. was completed during the year. We expect to build 243,310 sq.m. |
| Investment
Properties |
New World Hotel Shenyang has enjoyed stable growth in occupancy during the review period, business and services have been strengthened by the hotel operator, New World Hotel |
| Completion
Schedule |
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sq.m. |
FY2008 |
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| Shenyang New World Garden Phase ID |
Residential, Commercial, Carpark |
¡¡171,646 |
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Total 171,646 |
| FY2010 |
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| Shenyang New World Garden Phase IIA |
Residential, Carpark |
243,310 |
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Total 243,310 |
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| Dalian |
| Highlights |
Dalian is a key port, travel attraction and city centre along the northern China coastal line. In 2007, the economy of Dalian recorded strong growth with its GDP exceeding RMB300 billion for the first time.
Light Rail Line No. 3, with a total investment of RMB1.87 billion, was completed and its operation started in July this year. It has become the main express transportation link connecting the Jinzhou New District and major city district of Dalian. It now takes only 40 minutes to travel between Jinzhou District and Dalian Railway Station, a substantial reduction in the commuting time between the two locations.
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| Property
Portfolio |
There is one major property project under development with total GFA of 106,589 sq.m.. We expect to build 128,631 sq.m. GFA in FY2009.
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| Investment
Properties |
There is one completed investment property with total GFA of 69,196 sq.m..
The construction of the hotel tower and shopping podium of Dalian New World Tower is progressing smoothly. The hotel portion is planned to open in the first half of 2009. The shopping podium has recorded good pre-lease responses so far.
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| Completion
Schedule |
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sq.m. |
| FY2009 |
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Dalian New World Tower |
Residential, Commercial, Hotel, Carpark |
128,631 |
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Total 128,631 |
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| Anshan |
| Highlights |
Located in the hinterland of the Pan-Bohai Economic Zone, Anshan plays a key supporting role in the economic regions spanning across Shenyang and Dalian and an important connector between the cluster of centrally-located cities in Liaoning Province and the Liaodong Peninsula Open Zone. In 2007, Anshan had a GDP of RMB135 billion, ranking 34th among the top 100 cities in the nation.
Anshan is the largest iron and steel production base in Mainland China and is where Angang Steel, a leading enterprise and the second largest iron and steel company nationwide, is based. Angang Steel plans to rank among the world¡¯s top 500 corporations in 2010 and to become a multinational iron and steel group with international competitive capability.
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| Property
Portfolio |
There is one major property project under development with total GFA of 814,408 sq.m..
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