On July 27th, 2010, the Foundation Laying Ceremony of the “Tianjin Powerlong International Centre” was held in Tianjin’s Yujiabao Financial District, a world-class zone for financial reform and innovation. The “Tianjin Powerlong International Centre” is the 20th urban complex to be developed by Powerlong Real Estate Holdings Limited, the first listed company among China’s top ten commercial real estate developers. As the first urban complex in the Tianjin Yujiabao Financial District, this project demonstrates that Powerlong Real Estate (1238. HK) has taken a firm step into the Bohai Sea Economic Circle. He Lifeng, the secretary of the Tianjin Binhai New Area Party Committee, attended the ceremony and earthed the cornerstone. Zong Guoying, governor and party committee deputy secretary of Tianjin Binhai New Area, and Xu Jiankang, board chairman and president of the Powerlong Group, attended the event and addressed the attendees.

Tianjin Powerlong International Centre is a project funded and developed by the Tianjin Powerlong Jinjun Real Estate Co., Ltd., which is a joint venture between the Shanghai Powerlong Industrial Development Co., Ltd., a wholly owned subsidiary of Powerlong Real Estate Holdings Limited (1238.HK) and the Tianjin Innovative Finance Investment Company. After an increase in registered capital, Shanghai Powerlong and Tianjin Innovative Finance hold 65% and 35% of the stock in the company respectively. The Tianjin Powerlong International Centre has a gross floor area of approximately 400,000 square meters (including underground floor area) and represents a total investment of more than RMB 4 billion Yuan. The project’s tallest structure has a height of 249.2 meters. Upon completion, the project will integrate an urban commercial centre, an A-class office building, five-star hotels and high-grade services apartments.

The Tianjin Powerlong International Centre is located in the core of the Yujiabao Financial District, which is the CBD of the Tianjin Binhai New Area. It is not only the first project to be launched in Binhai New Area’s Initial Financial Zone, but also the only high-end urban complex in the Yujiabao Finance District. On the project’s east side, the Yujiabao Railway Station is scheduled for opening in 2011. Located along the Beijing-Tianjin intercity high-speed railway, upon completion it will take only 45 minutes to travel from Yujiabao to Beijing. Within the district, there are also plans to build 5 subway lines, 2 that cross it vertically and 3 horizontally. The Tianjin Binhai New Area has developed rapidly in recent years, and the clustering effects of financial industries are becoming increasingly evident. The timely completion of the Tianjin Powerlong International Centre will help to underpin the Binhai New Area’s development strategy of "One Core Area and Two Harbours, Nine Supporting Districts and Leader-driven”, and will contribute to the Binhai New Area’s development as a new city characterized by economic prosperity, social harmony and a sound ecological environment.