SHANGHAI, China, Nov. 23 /Xinhua-PRNewswire/ -- Sunrise Real Estate Group, Inc. (OTC Bulletin Board: SRRE; website: http://www.sunrise.sh ) announced that it has entered into one new agency sales contract on November 6, 2007, for the sale of the Fuyang Yijing International Garden residential complex in Fuyang City, Anhui Province, China.
Fuyang Yijing International Garden is a residential condominium and commercial complex with total floor area of 400,000 square meters. Its estimated total market value is approximately RMB1.2 billion or $162.2 Million. Sunrise will have exclusive marketing rights of this project. Sunrise earns sales commissions based on percent of sales price on its agency sales agreements.
Mr. Kevin Chi-Jung Lin, Chairman & CEO of Sunrise stated: “We are glad to see that our sales agency operation has singed this agreement. We believe that our ongoing sales efforts will continue to add value to our shareholders.”
Forward Looking Statements
The common stock of Sunrise Real Estate Group, Inc. is quoted and traded on the OTC Bulletin Board under the trading symbol “SRRE”. This press release contains forward-looking information within the meaning of section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwarding-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company’s expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties, but there can be no assurance that management’s expectations, beliefs or projections will result, or be achieved, or accomplished.
