Guangzhou R&F Properties Co., Ltd. is engaged in development and sale of properties, property investment, hotel operations and other property development related service in the People鈥檚 Republic of China. The Company鈥檚 principal activity is the development of residential and commercial properties for sale in China. The Company also develops hotels, office buildings and shopping malls in Beijing, Guangzhou, and other cities, which are held as investment properties. It operates in three segments: property development, property investment and hotel operations. As of December 31, 2010, it had 40 projects under development in 13 major cities, including Beijing, Tianjin and Guangzhou. It is also involved in co-developing some large-scale projects. In March 2010, it acquired land in Yonghan Village, Longmen Town, Huizhou City. In December 2010, it acquired land in Hui Bo Yan Jiang Road, Luoyang Town, Bo Luo County, Huizhou.