The Group has successfully acquired the land-use right for a site of approximately 89,000 square meters in Dandong, PRC. The new site is located at the Wenan International Business Zone which is earmarked to be the new city center of Dandong for commerce, trade, tourism and residential development, as well as the governmental control headquarters. The Wenan International Business Zone promises good potential as an international business center. The Wenan Zone is at close proximity to key facilities, being only 5 km from the Dandong Airport, 10 km from central Dandong and 20 km from the Dandong Port.

The Group intends to develop the new site acquired into a residential-cum-commercial development project to be named as SingaporeCity@Dandong Project 兄弟星城. The Group expects to start work on this project during the current financial year. Upon completion the project will comprise 262,000 square meters of mixed development with 2,446 residential units. This is the Group’s second development project in Dandong, after its SingaporeCity@ Yalu River project.