The Luodian Project Master Plan
The site on which the Luodian Project was constructed consisted primarily of undeveloped land. The Luodian Project covers a site area of approximately 6.8 million square meters.
| Classification |
Land Use |
Site Area
(sq.m.) |
% of
Total Site Area |
GFA
(sq.m.) |
% of
Total GFA |
| Residential area |
|
3,237,400 |
36.8% |
4,893,100 |
90.0% |
| |
| Commercial area |
Sporting and leisure facilites (including 2 18-hole golf courses)
|
2,349,000 |
26.7% |
N/A |
N/A |
| |
Hotel |
74,000 |
0.8% |
74,000 |
1.4% |
| |
Retail space |
152,300 |
1.7% |
170,700 |
3.1% |
| |
|
2,575,300 |
29.2% |
244,700 |
4.5% |
| |
| Public amenities |
Landscape |
974,800 |
13.3% |
N/A |
N/A |
| |
Infrastructure |
1,050,500 |
11.9% |
80,000 |
1.5% |
| |
Rivers/ponds/lakes |
547,000 |
6.2% |
N/A |
N/A |
| |
Schools |
176,000 |
2.0% |
70,000 |
1.3% |
| |
Amenities Center |
31,000 |
0.4% |
60,000 |
1.1% |
| |
Hospitals/clinics |
8,000 |
0.1% |
90,000 |
1.7% |
| |
|
2,787,300 |
33.9% |
300,000 |
5.5% |
| |
| Total |
|
8,600,000 |
100.0% |
5,437,800 |
100.0% |
Construction of the commercial area of the Luodian Project is approximately 96.4% complete and is expected to be completed by the end of 2007. Once completed, the Luodian Project is expected to have the following layout:
Residential Area
Under the Luodian Project master plan, approximately 2.4 million square meters of site area, representing 34.9% of the total site area of the Luodian Project, are designated for residential property development. Portions of this residential area have been divided into separate plots for the sale of land use rights to third party property developers through auction, tender or listing.
North-European-style residences (comprising of apartments as well as detached, semi-detached and town houses) will be constructed to house the new residents of the Luodian Project.
Sales of land use rights for residential property development are expected to continue until 2010, with rights to approximately 1.4 million square meters of site area yet to be sold.
Commercial Properties
Approximately 3.0 million square meters, representing 44.7% of the total site area of the Luodian Project, are designated for commercial property development, with a GFA of approximately 230,762 square meters. We have acquired land use rights to portions of the Luodian Project designated for commercial development, the land on which SGLD has constructed the 274-room Lake Meilan Hotel, a Scandinavian-style retail street (the "Retail Street"), the Convention Center and the Command Center.
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