ZHONGFA DEVELOPMENT, INC.

Zhongfa Development Inc. or ZFDI, is the Philippines branch of Beijing Zhongfa Group Company; it was founded and registered in Manila in December, 2010. Since its foundation, ZFDI has been dedicated to providing all clients with high-quality, comfortable and energy-saving properties. Under this vision, we are consistently working on user-friendly products for the Philippines market. Beijing Zhongfa Group Company, holding company of ZFDI, was based in Beijing, capital city of China. Since its establishment in 1993, the company has been a leading company specializing in trading of electronic/communication products and development of commercial properties. Renowned properties include Beijing Zhongfa Electronics Building, Zhichun Electronics Mall, Zhongfa Baiwang Shopping Mall, Zhongfa Security Products Mall, Xiyuan Outdoor Products Mall, Amboseli Resort & Hotel (Kenya), Masai Mara Resort & Hotel(Kenya), etc. The group company comprises Development & Planning Department, Property Management Department, Business Operation Department and Capital Operation & Utilization Department, with a total of 500 elite workforce. As of now, the total assets are well above RMB3.8 billion. The group company entered the Philippines in 2007 and started the building and operation of the 6,000 sqm Golden Phoenix Hotel in Boracay Island. In 2011, ZFDI and Dr. Alfonso G. Siy, president of FFCCCII decided to jointly develop Oceanaire project, a high-end property located in the center of the future PAGCOR City, one of the most promising cities in Metro Manila. In 2011, Oceanaire project was launched and would be turned over to clients in the end of 2014. It is going to be one of the top properties with its unique features.