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Real Estate and Civil Infrastructure Businesses
Real Estate and Civil Infrastructure Businesses

Real Estate and Civil Infrastructure Businesses

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Real Estate and Civil Infrastructure Businesses

As of the end of 2008, total assets of the real estate and infrastructure business stood at RMB91.2 billion, an increase of 99.3% yoy; operating income RMB4.7 billion, a decrease of 12.7% yoy; profit before tax RMB1.8 billion, down by 39.7% yoy. Real Estate Business Real estate development is one of CITIC Group’s key business areas. In face of the changing property landscape in 2008, CITIC Real Estate Co., Ltd. adjusted its strategy, concentrating resources on key regions and cities in its strategic plan and emphasizing cash flow management, including accelerating the recovery of working capital through sales promotion. Investment plans, building designs and business strategies were revamped to reduce the area under construction and capital outlay: CITIC Guangda in Chengdu and Project in Mianyang, Sichuan were suspended; 21 projects including Baoshan Xidao in Tianjin were postponed; construction and sales of CITIC Town in Beijing, Mangrove Bay in Shenzhen, Camph

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