CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 2,918,901	$ 308,661
Restricted cash	38,420,730	25,076,180
Accrued straight-line rents receivable, net of doubtful provision in amount of $1,909,358 and nil, respectively	3,583,440	3,462,279
Accounts receivable, net of doubtful provision in amount of $7,423,990 and 3,653,036, respectively	9,424,877	49,608,100
Trade and Rents receivable from related parties	3,590,956	4,070,994
Inventories	56,648	295,737
Deposit with property developer	28,186,222	28,293,184
Advance to suppliers, related parties	0	8,570,341
Prepayments and other receivables	8,920,825	12,364,765
Loans receivable from related parties, net of doubtful provision in amount of $1,795,314 and nil, respectively	5,658,556	496,785
Current deferred tax assets	849,962	327,145
Deferred cost	3,573,300	3,586,860
Total current assets	105,184,417	136,461,031
Non-current assets
Real estate and related assets, net	82,665,861	84,610,919
Long term prepaid lease	330,160	428,718
Prepayment for acquisition of properties	4,704,357	4,722,209
Long-term deferred tax assets	4,297,104	2,834,285
Total non-current assets	91,997,482	92,596,131
TOTAL ASSETS	197,181,899	229,057,162
Current liabilities
Short-term loans	63,686,708	60,944,640
Accounts payable	12,892,824	37,396,108
Notes payable	59,449,360	46,978,160
Advance from customers	7,004,157	737,647
Accrued expenses and other payables	4,006,628	3,775,324
Amounts due to third parties	395,275	6,824,530
Taxes payable	1,075,744	613,610
Current portion of long term borrowings, related party	4,250,000	0
Loans payable to related parties	54,934	10,061,996
Current deferred tax liabilities	1,348,207	1,311,401
Total current liabilities	154,163,837	168,643,416
Non-current liabilities
Long term borrowings, related party	0	4,250,000
Long term deferred tax liabilities	12,993,239	12,982,090
Total liabilities	167,157,076	185,875,506
Stockholders' equity
Preferred Stock,$0.00001 par value 20,000,000 shares authorized, none issued at June 30, 2012 and December 31, 2011	0	0
Common stock (US$0.00001 par value, 480,000,000 shares authorized, 399,999,847 and 399,999,847 shares issued and outstanding as of June 30, 2012 and December 31, 2011)	4,000	4,000
Additional paid in capital	30,191,115	30,191,115
Appropriated retained earnings	3,992	3,992
Unappropriated retained earnings	(3,932,073)	9,000,724
Accumulated other comprehensive income	3,053,416	3,259,583
Total stockholders' equity	29,320,450	42,459,414
Noncontrolling interest	704,373	722,242
Total equity	30,024,823	43,181,656
TOTAL LIABILITIES AND EQUITY	$ 197,181,899	$ 229,057,162