The Group launched Phase 2 of its Singapore City@Yalu River Project in October 2010. We are pleased that it achieved the same strong market response experienced for the launch of Phase 1 a year ago. As at 31 March 2011, Phases 1 and 2 have achieved to-date combined sales of approximately RMB216 million with 539 units sold, representing 78% of units launched.

Phase 1 covers a total GFA of approximately 27,000 square meters and has completed construction in 2010. 41% of the units sold for Phase 1 have been successfully handed-over to residents. Phase 2 covers a total GFA of approximately 121,000 and is targeted to be fully constructed before the end of 2012.

The GFA available for construction of future phases is approximately 192,000 square meters, which we plan to conserve for future development. With the project’s ideal location situated next to the beautiful Yalu River, we are confident of its future market potential.