Shimao Property Holdings Limited is an investment holding company. Through its subsidiaries, it is principally engaged in property development, investment and hotel operation. As at December 31, 2008, the Company had more than 30 projects under construction in over 20 large/medium-sized cities in China. Some of its subsidiaries include Shanghai Shimao Real Estate Co., Ltd., Shanghai Shimao International Plaza Co., Ltd., Shanghai Shimao Jianse Co., Ltd., Shanghai Shimao Manor Real Estate Co., Ltd., Shanghai Shimao North Bund Co., Ltd., Beijing Shimao Investment and Development Co., Ltd. and Harbin Shimao Riviera New City Development and Construction Co., Ltd.