JuneYao Real Estate is a significant landmark for JuneYao Group on the course of development to industrialization. Wenzhou JuneYao Hotel established in February 1998 is the starting point for JuneYao Group real estate business. After that, as the operation of the Group is relocated to Shanghai, JuneYao real estate seizes the opportunity to develop.
In October 2002, JuneYao Real Estate purchased Jinhui Building on Xujiahui Business Circle in Shanghai at the price of RMB 350 million. With addition investment of RMB 200 million, in January 2004, JuneYao successfully changed this building into a modernized 5A office building in , renamed as Shanghai JuneYao International Plaza. The building is 135 meters high with 37 floors. Total construction area is 80,000 square meters. Currently the rental price is 5.5 yuan/㎡. Property management of the building is done by famous corporation Jones Lang LaSalle. The building maintains a high occupancy rate above 95%.
In June 2003, JuneYao Real Estate sensed a great opportunity in real estate industry in Hubei, and therefore started to build Yichang JuneYao International Plaza in Yichang with a total investment of RMB 700 million. This is a large scale comprehensive commercial real estate project with 5-star level hotel multi-function theater, large shopping center, 5A office building and entertainment and recreational facilities. As the landmark architecture in Yichang, the building is 153.65 meters high with 37 floors and a total construction area of 100, 000 square meters. Yichang JuneYao International Plaza shopping center opened its business in September 2006.Other functions are to be available in 2007.
In August 2005, JuneYao Group became the shareholding company of Hubei province Wuhan city Hanyang Real Estate Company and conducted company reorganizing. Later the company was renamed as Wuhan JuneYao Real Estate Development Co., Ltd. JuneYao Group officially stepped into residence houses for low and medium wage earners property real estate business.
Now JuneYao Real Estate has primarily formed a professional development and management mode for affordable house property development and commercial property development. In December 2005, JuneYao Group established a Real Estate Division to suit group overall structure adjustment. Under the guidance of Board of Directors and group leaders, Real Estate Division has set up a systematic management mode to suit need of corporate development and market demand and established cooperation between each link on value chain. It exercises a strict control on core resource system of real estate development, and in the mean time, fully uses the experience and wisdom of outsource professional groups. With years of exploration, now JuneYao real estate business is stepping into a crucial period of overall development.
With its rapid development, JuneYao Real Estate also places its attention to the comprehensive strength of the Group resources. According to the Group’s development strategy in aviation industry, the Kangqiao Area was planned for the construction of JuneYao Aviation Zone in August, 2006, which would cover the office building of JuneYao Airlines Company, Pilots’ Apartment Building, Call Center of E-business, JuneYao Logistics Center and supportive facilities such as hotel, restaurant and commercial outlets. With a total investment of RMB1 billion, the program will be ready for use by 2010, implemented in three stages. Fast development of JuneYao aviation significantly enhances the opportunity for JuneYao Real Estate to enter into many different target markets. It creates a great room for future development of JuneYao Real Estate.