With the end of winter construction work will also resume on the Noble Mansion project. Two of the construction companies contracted by ESI and also the construction supervision have been operating on site again since the end of February in order to carry out preparatory work for the speedy resumption of construction work and monitoring.
Due to the harsh winter several preventive measures had to be taken to best counter any problems with quality and safety. An example: on all exposed steel surfaces several layers of insulation had been applied, which must now be removed.
In the meantime the internal fitting out of the Sales Centre of the Noble Mansion project, which is important for the marketing of the apartments, is progressing strictly according to plan. Currently the special foundations for the large staircase are being laid. In its January 2012 issue the Euro Sino Investment Newsletter introduced the sales office and showed in an animation the impressive foyer with its generously designed stairs.
The resumption of construction activities is remarkable as the month of March is known for greatly varying temperatures. Short term fluctuations between -20 and +10 °C are not unusual, making construction activity difficult. Rigorous construction supervision is required to avoid endangering the scheduled construction progress.
In the meantime the auction for the Noble Family project has been delayed slightly - the exact date has still to be announced by the local government. At the moment we are assuming the auction will take place in 3-4 weeks. We still rate our chances of being successful as very good.
Regarding residential space, especially in the highly upwardly mobile Hunnan district where the ESI project is situated, the demand should continue to increase. This was confirmed by Yang Yazhou, Deputy Mayor of Shenyang, which in the meantime has become a metropolis of eight million inhabitants, in a meeting with Florian von Tucher, MD of ESI. Also the second ESI project as well will profit from the 2013 Chinese National Games (hosted by Shenyang) and the good location.