Land development and real estate operations under Xiangyu Group are composed of business activities including land and real estate development and operations, engineering supervision, and property management. Professional services are provided by more than 30 senior engineers, over 50 engineers with various certifications and nearly 100 engineers of various academic background. The advanced operational philosophy and strong know-how back up have endowed Xiangyu Group with tremendous strength and competitiveness in engineering and construction, making it a vigorous player in these fields.

Land Development: Xiangyu Group has been making great efforts to be market-oriented, completed land filling project by means of loaning RMB530 million on its own. Within one year, Phase I Project of Xiangyu Free Trade Zone, covering an area of 0.73km2, sprang up from a land which used to be a deserted beach. Taking into account the 0.37km2 of specialized terminal for the F.T.Z which was built after Phase I Project, a total land area of 1.1km2 was added to Xiamen Island (131km2). The Phase II Project of Xiangyu F.T.Z, commencing at the end of 2001, is expected to complete by 2005, with an estimated direct investment of RMB450 million. It is envisaged that 1.1 million square meters of land will be developed including nearly 700,000m2 of transferable land, which means another 1.1km2 of land will be added to Xiamen Island.

Terminal Construction: With consistent growth of port industry in Xiamen, Xiangyu Group also makes much input to coastal development project. Four modern container terminals at 35,000T and above have been successfully constructed by the Group, including several hundred thousand square meters of stacking yards and necessary supporting infrastructure. These efforts have laid a firm foundation for the port industry-oriented development policy of Xiamen, and greatly facilitate Xiangyu Group to build up a platform serving a regional shipping center.

Industrial Park Construction: With high efficiency and quality, Xiangyu Group has developed more than 220,000m2 of factories, warehouses and office buildings as a part of the Phase I Project of Xiangyu Free Trade Zone, building up a well-equipped industrial park within the free trade zone. Many prestigious enterprises home and abroad rushed to join the industrial park, forming great demand for factories and warehouses of various types. There are currently 974 enterprises within the industrial park, absorbing an investment amounting to USD550 million and generating nearly USD4 billion of trade volume. Stationed in the park are such famous logistics service providers as Berlington Logistics, Yantze River Logistics, (Singaporean) Pacific Logistics, Chase International Transportation, Fujian Sino-Trans. and Greating Group. The industrial park has become a haven for modern logistics industry growth.

Civil Engineering: Along with development andconstruction activities within Xiangyu Free Trade Zone, the Group also heads steadily for real estate projects for civil use. Large civil engineering projects completed include Songbai Building, covering about 4015m2 of land and providing about 40,000m2 of construction area; and East Village of New Xianyue Park, covering about 49801m2 of land and providing about 114,000m2 of construction area. Projects currently under construction are Haiyi Mansion Project, which covers about 50,000m2 of land, and Jinxiang Garden Project, covering about 9,000m2 of land.

Public utilities construction: The Group has finished building of public facilities in the free trade zone including 6.6km2 of road, 7km2 of piping works, and about 170,000m2 of greening.

Project supervision: Xiangyu Group possesses a strong team of highly qualified project supervision engineers, including more than 50 certified supervision engineers, nearly 20 cost accounting engineers and numerous architects, structure engineers, accountants and economists. The Group has obtained Class-A qualification certificates on project supervision and bidding agency issued by the Ministry of Construction, ensuring us to provide high quality project supervision with respect to house building, public utilities construction, telecom. networking building, highway, bridge and port construction. The Group took the lead to introduce ISO9000 quality certification system into project supervision in Fujian, and was the first organization to pass CQC certification in the province. The Group has undertaken project supervision and construction of a number of key projects at the state, provincial and city levels, and many other large and medium size comprehensive projects. It has also provided supervisory services to over a million square meters of construction projects, with business scope extending as wide as construction for industrial and civil use, port engineering, public utilities, roads and bridges. The services we offer start from project feasibility study, to design supervision, bidding agency, cost estimate consulting, as well as supervision at the construction and warranty periods. At present, the business areas of supervision activities under the Group have gone steadily beyond Xiamen to neighboring regions as Fuzhou, Zhangzhou, Quanzhou and Longyan.

Property management: The property management activities of the Group were initiated from providing property management services to real estate owners within Xiangyu Free Trade Zone. With gradual increase of its strength, starting from 1998 the Group joined market competition out of the F.T.Z, in which process steady growth was witnessed. The Group took the lead to introduce ISO9000 quality management system into property management, and was the first organization to obtain CQC certification in Fujian Province. The staff includes 3 senior engineers, with 30% of the staff team having received higher education. All technicians possess professional certificates required. The business scope includes all-round property entrustment management, management consulting services, supporting infrastructure building, decoration service, greening, renting agency, security and cleaning services. The objects of services include high rises and multi-floor office buildings, buildings incorporating offices and flats, industrial buildings, warehousing and processing buildings and public utilities.