The Group's property arm has significant interests in almost 108,000 square metres of prime retail and office investment properties in first-tier cities in the People's Republic of China ("the PRC"), such as Shanghai and Guangzhou, and over 826,000 square metres of residential and mixed-use development properties held predominantly for sale. The Group also owns 16.1% of Top Spring International Holdings Limited, a Hong Kong-listed PRC property developer and invests 23.7% in InfraRed NF China Real Estate Fund II (A), L.P., a private equity real estate opportunity fund.