Annual Report 2009 - Greentown China Holdings Limited

Valuation Report and Analysis
14. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
15. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
16. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
17. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
18. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
19. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
20. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
21. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
22. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
23. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
24. As at the date of valuation, the State-owned Land Use Rights Certificate of the property has not been obtained yet. However,
for referencing purpose, we have valued the property on the assumption that all of the valid State-owned Land Use Rights
Certificates of the property have been issued to the property, all land premium, related fees for the grant of the certificate and
costs necessary to render the site ready for immediate development have been fully settled.
Greentown China Holdings Limited Annual Report 2009 231