In December 2012, the Company had acquired 40% equity interests in Forward Investment (PRC) Company Limited (“Forward Investment”).

The principal assets of Forward Investment is the 100% equity interests in Nanjing Taihe Yingke Property Company Limited (“Nanjing Taihe Yingke”), which main asset is a complex development project (the “Jiangning Project”) located in Jiangning Development Zone, Nanjing, Jiangsu Province, the PRC. The Jiangning Project is a composite complex comprising two towers of commercial space and service apartments. The commercial space tower is a six-storey tower with a gross floor area of 39,241.48 square metres and the service apartments tower is an 18-storey tower with a gross floor area of 20,882.52 square metres. The total gross floor area of the Jiangning Project is approximately 74,642.00 square metres which includes a basement of approximately 14,518.00 square metres, and land use rights of approximately 20,050.90 square metres.