HISTORY

Mr. CF Tao, founder of the Group and one of the Controlling Shareholders, has had extensive experience in the property market of the People’s Republic of China. This can be traced back to the early 1980s when Mr. CF Tao participated significantly in the development of Nanjing Jinling Hotel (南京金陵飯店) in Nanjing, Jiangsu Province, the PRC. Nanjing Jinling Hotel (南京金陵飯店) was one of the earliest 5 star hotels built in the PRC following the opening up of the Chinese nation to the outside world in 1978 and has continued to be one of the most prestigious hotels in Nanjing city.

In 1984, Mr. CF Tao was invited by Beijing Municipal Bureau of Tourism (北京市旅遊局) to develop a hotel complex in Beijing. However, upon viewing the site, he proposed that it be more than just a hotel project from his involvement in other commercial complexes in Southeast Asia. As a result, in 1990, a multi-purpose commercial complex with a GFA of approximately 132,052 sq.m., comprising a business class hotel, an office tower, a block of service apartments, and a Convention Centre namely Beijing Landmark Towers was completed and officially opened. In 1997, a second office tower was built and completed. At the moment, the Group holds a 30.05% interest in this investment and has received from it a steady cash dividend income each year.