Home / Tag Archives: RRL

Tag Archives: RRL

Cash Balance of EVERGRANDE GROUP Reaches 64.03 Billion Yuan, Ranks No.1 in China; HuiKa Yan Announces Multiple Business Strategies

BEIJING, Aug. 26, 2014 /PRNewswire/ -- On August 26th, The 2014 Midyear Achievement Announcement of EVERGRANDE GROUP was held at the Shangri La Hotel on Hong Kong Island, Hong Kong. The Group Chairman HuiKa Yan made a public announcement to the world: the EVERGRANDE GROUP will stand firmly to implement its multiple businesses strategies. An original report by Sina Leju follows:

He said that EVERGRANDE GROUP will stand firm to implement its multiple business strategies, which are announced to the public for the first time after long term and prudent investigation and survey. "After special research, we found that most of the World Top 500 Giant Enterprises would select multiple businesses strategies after they have developed to a certain size. As far as the size, team and brand of the Group are concerned, we will lose lots of development opportunities if we fail to implement multiple business strategies. Now, the Group has formally entered the strategic stage of "Multi + Size + Brand."

What are the new industries which the Group will enter? When will the Group enter these industries? HuiKa Yan said that that depends on market potentials. They may be modern agriculture, dairy industry and stockbreeding, or maybe new products like EVERGRANDE grain and oil product, and EVERGRANDE baby milk powder will appear soon. For the first time, He revealed to the public, "the Group will take a seat in the World Top 500 Giant Enterprises next year. In terms of the main indexes such as sales amount (which are essential for appraisal of the World Top 500 Giant Enterprises), we are confident to reach that."

Behind the new strategies, the achievement of multiple businesses had a big growth when compared with the same period of the last year, taking a lead in the industry. The mid-year data shows that, in the upper half of 2014, sales amount of the Group reached 69.32 billion yuan, a growth of 55.4 percent when compared with the same period of last year; with a net profit of 9.49 billion yuan, nearly double that of 4.81 billion yuan of WANKE Group; its total assets reached 421.65 billion yuan, a growth of 53.6 percent when compared with the same period of last year; as of June 30, the cash balance reached 64.03 billion yuan, a growth of 52.6 percent when compared with the same period of last year.

In addition, the other core indexes of the Group also witnessed a big growth when compared with the same period of 2013. By the end of June, the Group has completed 110 billion yuan, i.e. 63 percent of the annual goal, ranking top among real estate enterprises in China. The industry generally predicted that the last half year will see a warmer market. The Group may become the first real estate enterprise which fulfills the annual goal.

The fair achievement of the Group is due a lot to its size. As of June 30, the Group has 303 large projects in 147 cities in China, boasting a giant taking a lead in the industry in China. With the rapid growth of city expansion in China, there are growing demands for houses, and the Group has strived to provide houses of high quality and moderate prices to meet such demands, thus winning a return of increasingly growing achievement.

In addition, the cash balance of the Group is more than 64 billion yuan; the accumulated paid-in land payment has reached 175.26 billion yuan, showing strong financial strength. Steady and prudent financial policies have laid a solid foundation for the Group's further development in the real estate industry, and give guarantee for expanding its multiple strategies.

Read More »

Sterling Financial launches New Providence Opportunity Fund, A Real Estate Investment Fund, and Announces Its First Real Estate Acquisition

-- "The New Providence Opportunity Fund, Ltd. presents an excellent opportunity to investors to capitalize on decades of property experience of its Sponsor and it drives significant synergies with the existing fixed income mortgage funds managed by Sterling Financial Group, Inc."

NASSAU, The Bahamas, Aug. 22, 2014 /PRNewswire/ -- Nassau, The Bahamas based Sterling Financial Group ("Sterling"), announces the launch of the New Providence Opportunity Fund, Ltd. (the "Fund"). The Fund is a closed-end equity investment fund consisting of high net worth and institutional investors, which targets diverse real estate investment and development opportunities in the United States, Canada and the Caribbean.

The Fund seeks to benefit from Sterling's access to fundamentally sound real estate investments including development opportunities that were financially challenged by the Recession. The Fund will be active in markets where Sterling has both extensive real estate experience and existing platforms. Leveraging its relationships with developers, real estate private equity firms, private family investors, entrepreneurs and financial institutions, the Sponsor will identify opportunities, and upon acquisition, provide value-add initiatives to maximize total returns.

"We are pleased to bring New Providence Opportunity Fund to the market," said Steve Tiller, President and COO of Sterling "We believe that the combination of our extensive real estate investment, development and management capability and a highly efficient funding structure, is a recipe for success for many investors in today's market," Tiller continued. David Kosoy, Sterling's Chairman and CEO added, "we are pleased to add this fund to our other real estate offerings available, and I believe it is a great complement to our platform."

Simultaneously with the first closing of the Fund, Sterling is also announcing the acquisition and further development of Ocean Terrace, an existing ocean front condominium project located in the West end of New Providence island. The acquisition includes additional green-field acreage for future development.

"Ocean Terrace is now under new ownership and we are revitalizing a project that has been idle for some time. It is a true sign of strong improvements currently experienced in the Nassau real estate market and especially in the highly sought after western district. The project is an excellent addition to the notable projects that Sterling is involved in and it is a terrific complement to our portfolio", added Tiller.

The Sterling platform focuses on providing access to alternative market opportunities without compromising the North American standard for risk management, operational efficiency and regulatory requirements. Sterling leverages a management team with interdisciplinary real estate experience, a strong internal infrastructure and partnerships with leading service providers in order to capitalize on unique real estate investments and structures.

Kosoy further noted, "We have seen an increased demand from investors for quality real estate projects and funds that would diversify their exposure to traditional investments as well as providing attractive returns. We are pleased that we can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios."

Sterling Financial Group, Inc., a fully integrated and diversified real estate investment, development, management and services company that has an established track record of successes in the real estate industry. Over the past 40 years, Sterling and its principals have acquired over 5.5 million square feet of commercial real estate at a combined purchase price of over $2 billion. Prior to founding Sterling, the principals had previously been part of the controlling group of a publicly traded real estate company, which acquired and managed a portfolio of more than 20 million square feet of real estate across North America. Sterling is headquartered in Nassau, Bahamas.
www.sterlingbahamas.com

NPOF Launch Press Release
For further information please contact:

Sterling Financial Group
T: +1-242-677-1900
E: cwalker@SterlingBahamas.com

Sharell Carroll
SageEden Media Group
T: +1-242-356-0646
info@sharellcarroll.com

Notes for Editors

ABOUT STERLING FINANCIAL GROUP INC.
Sterling Financial Group is a Nassau, Bahamas based, financial services business founded in 2006. The company is privately owned and is regulated by the Securities Exchange Commission under the Financial Service and Corporate Providers Act.

The series of real estate and mortgage funds managed by Sterling invest and profit from a portfolio of privately held real estate investments and mortgage loans. The business is administered by David Kosoy and Steve Tiller and other respected real estate professionals who collectively have significant experience in the real estate and mortgage lending markets. The principals of Sterling have a track record over the past 40 years of successfully and consistently generating profits in the real estate investments and mortgage lending sectors in Canada, the Bahamas, the U.S. and the U.K.

Read More »

E-House Launches Home Price Ratings Website

SHANGHAI, July 17, 2014 /PRNewswire/ -- E-House (China) Holdings Limited ("E-House" or the "Company") (NYSE: EJ), a leading real estate services company in China, today announced the launch of its home price ratings website www.fangjiadp.com and related mobile app ("Fangjiadp"), both of which operate under the Company's real estate information and consulting business unit, CRIC. The website and app currently cover more than 4,000 new residential developments in 21 cities, as well as more than 30,000 existing residential compounds in 5 cities in China.

Fangjiadp provides independent home price estimates, qualitative reviews, and ratings for primary and secondary market residential compounds. By entering an address (down to each individual apartment unit level) or compound name, consumers can instantly obtain the estimated market value of both new and previously-owned properties, as well as CRIC's expert opinions on other aspects of the properties. Properties are rated as "strongly recommended buy," "recommended buy," "buy with caution" or "recommend waiting." Once a consumer locates a property of interest, Fangjiadp will also list four similar properties in the area that are in the same price range so that consumers can compare estimated values and other aspects of the properties.

Xin Zhou, E-House's co-chairman and CEO, said, "Fangjiadp is developed by highly experienced analysts with many years of industry knowledge and is backed by CRIC's comprehensive and powerful real estate database. In addition to its wide and comprehensive coverage, Fangjiadp's unique user interface allows consumers to conduct one-on-one conversations with CRIC's home price analysts. We believe Fangjiadp brings a new experience and unique value to home buyers and sellers that has never before existed.  As part of our planned upgrade for Fangjiadp, consumers will be able to not only communicate with our home price analysts, but also write their own listing reviews while interacting with other consumers and industry experts to obtain relevant information and recommendations. For our CRIC unit, the launch of Fangjiadp represents the expansion of its customer base from what had historically been businesses and government entities to consumers, and illustrates its position as an independent and unbiased real estate information source."

About E-House

E-House (China) Holdings Limited ("E-House") (NYSE: EJ) is China's leading real estate services company with a nationwide network covering more than 250 cities. E-House offers a wide range of services to the real estate industry, including online advertising, primary sales agency, secondary brokerage, information and consulting, offline advertising and promotion and real estate investment management services. E-House has received numerous awards for its innovative and high-quality services, including "China's Best Company" from the National Association of Real Estate Brokerage and Appraisal Companies and "China Enterprises with the Best Potential" from Forbes. For more information about E-House, please visit http://www.ehousechina.com.

Safe Harbor: Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "may," "intend," "confident," "is currently reviewing," "it is possible," "subject to" and similar statements. Among other things, the quotations from management in this press release, as well as E-House's strategic and operational plans, contain forward-looking statements. E-House may also make written or oral forward-looking statements in its reports filed or furnished with the U.S. Securities and Exchange Commission, including Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about E-House's beliefs and expectations, are forward-looking statements and are subject to change. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained, either expressly or impliedly, in any of the forward-looking statements in this press release. Potential risks and uncertainties include, but are not limited to, a severe or prolonged downturn in the global economy, E-House's susceptibility to fluctuations in the real estate market of China, government measures aimed at China's real estate industry, failure of the real estate services industry in China to develop or mature as quickly as expected, diminution of the value of E-House's brand or image, E-House's inability to successfully execute its strategy of expanding into new geographical markets in China, E-House's failure to manage its growth effectively and efficiently, E-House's failure to successfully execute the business plans for its strategic alliances and other new business initiatives, E-House's loss of its competitive advantage if it fails to maintain and improve its proprietary CRIC system or to prevent disruptions or failure in the system's performance, E-House's failure to compete successfully, fluctuations in E-House's results of operations and cash flows, E-House's reliance on a concentrated number of real estate developers, natural disasters or outbreaks of health epidemics and other risks outlined in E-House's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of this press release, and E-House does not undertake any obligation to update any such information, except as required under applicable law.

For investor and media inquiries please contact:

In China:

Investor Relations
E-House (China) Holdings Limited
Phone: +86 (21) 6133-3937
E-mail: ir@ehousechina.com

Mr. Derek Mitchell
Ogilvy Financial, Beijing
Phone: +86 (10) 8520-3073
E-mail: ej@ogilvy.com

In the United States:

Mr. Justin Knapp
Ogilvy Financial, U.S.
Phone: +1 (616) 551-9714
E-mail: ej@ogilvy.com

Read More »