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| Investment in a Residential Project in Chengdu |
| In January 2010, Prax Capital (RMB Fund) invested in a residential project in Chengdu, the capital city of Sichuan Province and the most important economic centers, transportation and communication hubs in Southwestern China with BRC Group to develop the 150,000 square-meter luxury residential project in the High-tech Development District. The target site is located in a well-known high-end residential area with convenient accessibility, comprehensive amenities and supporting facilities. The project¡¯s prestigious design team is also dedicated to deliver the high-end residential project in the local market. |
| In addition to providing capital, Prax¡¯s advanced management philosophy and extensive investment experience, further strengthened BRC¡¯s image and brand name in Chengdu luxioury real estate market. In addition, Prax appointed a Chief Financial Officer for the project.
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BRC is honored to the cooperation with Prax Capital, with Prax¡¯s advanced management philosophy, extensive investment experience, integrated our own unique ideas and rich experience in real estate development, we are fully confident in continuously pursuing high project quality, and becoming a first-class real estate developer in China.
- Ms. Ren Xia, President of BRC Group
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