The Group’s property arm has significant interests in almost 377,000 square metres of prime retail and office investment properties in gateway cities in the PRC, such as Shanghai, Guangzhou and Chengdu, as well as Singapore, London and Australia; and over 380,000 square metres of residential and mixed-use development properties predominantly held for sale. The Group also owns 14.9% of Top Spring International Holdings Limited (“Top Spring”), a Hong Kong-listed PRC property developer and invests 23.7% and 4.9% in InfraRed NF China Real Estate Fund II (A), L.P. (“InfraRed Fund II”) and InfraRed Fund III respectively, both private equity real estate opportunity funds and 7.4% in Mapletree Global Student Accommodation (“MGSA”) Private Trust, a private trust in Singapore.