Sanlitun SOHO, with a total planned GFA of approximately 465,680 sq. m., will be one of the largest commercial and residential complexes available for sale in central Beijing upon completion. We plan to develop office and residential towers on top of shopping malls, which are linked by an outdoor piazza.

Guanghualu SOHO, which we expect to complete in the fourth quarter of 2008. Guanghualu SOHO is located in Beijing CBD with a total planned GFA of approximately 75,766 sq. m.. It will comprise four towers and is smaller in scale than our other current projects. As at 30 June 2007, approximately 86.3% of the total saleable GFA had been pre-sold.

Chaowai SOHO, which we expect to complete in the fourth quarter of 2007. Chaowai SOHO, with a total planned GFA of 151,168 sq. m., is located in Beijing CBD. Chaowai SOHO seeks to integrate the outdoors with the indoors by having numerous green areas inside the buildings thereby allowing people to experience natural scenery when they are inside the development. As at 30 June 2007, approximately 99.4% of the GFA of Chaowai SOHO (excluding the office space which we intend to hold as our future headquarters) had already been pre-sold.