On 1 July 2008, the company announced that it will purchase a 100% stake in Shenyang Good Friendship Hunnan Real Estate Development Co. Ltd, currently held by Good Friendship (Hong Kong) Limited, for RMB 650 mln.

On 26 January 2007, Shenyang Good Friendship won bids for the land use rights on four lots in the downtown Hunnan New District in Shenyang, with a total construction area covering 1 mln sq. metres. The company will develop and build the 'Celebrities Impression' project on this land in the second half of 2008. Certain parts of the project are expected to be completed in 2009.


Source: Shanghai Securities News

Date: 2 Jul 2008

CN01/BG/MZ/BT/MM