Shenyang is a key capital in North-eastern PRC as it is the capital city of the highly industralized Liaoning Province. With a population of approximately 7 million, Shenyang is one of the largest cities in the PRC.

Leveraging on Brothers’ expertise and experience in China, the Group has embarked on a new property development project, Singapore City @ Shenyang, in Shenyang, Heping District.

The site is situated in an area designated for development known as Changbai. Brothers has successfully obtained the land rights from the PRC government. The site covers a land area of 5 million sq ft. The estimated distance from the key areas in Shenyang is as follows :

1. Airport – 10 km
2. Railway Station – 5 km
3. Main Shopping Belt – 4.5 km

The new site will be developed and conceptualized to be a place where Singapore lifestyle can be experienced in Shenyang. Engineering and architectural designs are imported from Singapore to create an exterior environment similar to Singapore.

With an approximate gross floor area of 10 million sq ft, Singapore City @ Shenyang is modeled after Singapore with high-rise, mid-to-high end residential developments, good class water-side villas, exclusive country club, retail malls and institutes providing bilingual education.

Singapore City @ Shenyang is expected to yield 10,000 homes and over 1 million sq ft of commercial and retail space.

Singapore City @ Shenyang Phase 1

As at 31 March 2011, Phase 1 has achieved to-date sales of approximately RMB765 million with 1,567 units sold, representing 97% of units launched.

Phase 1 covers a total GFA of approximately 170,000 square meters, of which 110,000 square meters (Phase 1A) has completed construction in 2009 and the balance 60,000 square meters (Phase 1B) is targeted to be fully constructed before the end of 2011.

89% of the units sold for Phase 1A have been successfully handed-over to residents.

Singapore City @ Shenyang Phase 2

The Group launched its Phase 2 in August 2010 with good market response achieved. By 31 March 2011, Phase 2 has achieved to-date sales of approximately RMB425 million with 858 units sold, representing 57% of units launched.

Phase 2 covers a total GFA of approximately 136,000 square meters which has achieved 70% construction work done as at 31 March 2011. Phase 2 is targeted to achieve construction completion in 2012.

Singapore City @ Shenyang Phase 3

Riding on the successes of Phases 1 and 2 achieved so far, the Group plans to commence the construction of its Singapore City@Shenyang Phase 3 in 2011.

Phase 3 is the final phase of the Group’s Singapore City@ Shenyang Project. It covers a total GFA of approximately 163,000 square meters at plot ratio of 3.68 times. This is higher than the 1.99 plot ratio for Phase 1 and 1.85 plot ratio for Phase 2. As a result of the higher plot ratio, the land cost per GFA square meter of Phase 3 is expected to reduce to RMB531 as compared to RMB1,011 for Phases 1 and 2, thereby increasing the cost competitiveness of Phase 3.

Phase 3 is targeted to launch sales in 2011 and to complete construction in 2013.