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Neighborhood Center Wins Prize for Business Operation Mode

At the forum on China's commercial real estates and urban development held on June 24 in Beijing, SIP Neighborhood Center Management Co., Ltd. was awarded the prize of "China's Commercial Real Estate Promotion". Other winners of the prize are ten enterprises including Shanghai World Trade Group, Dalian Wanda Group.

The prize is initiated by China Urban Commercial Network Construction Management Federation and China Commercial Estates Union with the aim to encourage positive exploration by commercial real estate enterprises in China, to summarize and promote development concept and successful experience, and to commend those exemplary enterprises in promoting the commercial real estate development in recent years.

According to incomplete statistics, the total supply of commercial real estate in China in 2005 exceeded 30 million square meters, but quite many projects were faced with crisis of suspension due to managerial setbacks, a bottleneck in the development of China's commercial real estates. The Neighborhood Center Ltd., a standard bearer in regional commercial center management in China and owner of a well-known brand, has repeatedly won prizes in various competitions within the industry in recent years for its outstanding managerial expertise and experience. 

The Neighborhood Center won its first prize at the end of last year, when it was awarded "Top 10 Management Brands of Large, Medium, and Small-sized Shopping Centers in China", and the current award is a further acknowledgement of its successful operation and management mode. At the 4th Session of Chinese Urban Commercial Network Construction Management Federation on June 24, Ms. Yu Zhou, Chairman and GM of Neighborhood Center Ltd., was again elected to the permanent council of the federation. She told the reporters that Neighborhood Center would endeavor to set an example for commercial real estate management and to provide effective guidance for domestic commercial real estate developers.

June 26, 2006

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