CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 155,690	$ 308,661
Restricted cash	43,052,100	25,076,180
Accrued straight-line rents receivable, net of doubtful provision in amount of $3,333,965 and nil, respectively	1,711,639	3,462,279
Accounts receivable, net of doubtful provision in amount of $5,462,783 and 3,653,036, respectively	4,786,323	49,608,100
Trade and Rents receivable from related parties	2,749,058	4,070,994
Inventories	54,591	295,737
Deposit with property developer	28,004,243	28,293,184
Advance to suppliers, related parties	0	8,570,341
Prepayments and other receivables	17,626,294	12,364,765
Loans receivable from related parties, net of doubtful provision in amount of $1,790,659 and nil, respectively	0	496,785
Current deferred tax assets	961,761	327,145
Deferred cost	3,564,034	3,586,860
Total current assets	102,665,733	136,461,031
Non-current assets
Real estate and related assets, net	81,942,238	84,610,919
Long term prepaid lease	305,358	428,718
Deposit for acquisition of noncontrolling interest	772,730	0
Prepayment for acquisition of properties	4,692,158	4,722,209
Long-term deferred tax assets	3,587,595	2,834,285
Total non-current assets	91,300,079	92,596,131
TOTAL ASSETS	193,965,812	229,057,162
Current liabilities
Short-term loans	51,903,039	60,944,640
Accounts payable	5,053,681	37,396,108
Notes payable	71,911,200	46,978,160
Advance from customers	3,307,227	737,647
Accrued expenses and other payables	5,130,012	3,775,324
Amounts due to third parties	1,939,710	6,824,530
Taxes payable	1,178,091	613,610
Current portion of long term borrowings, related party	4,250,000	0
Loans payable to related parties	9,520,292	10,061,996
Current deferred tax liabilities	863,777	1,311,401
Total current liabilities	155,057,029	168,643,416
Non-current liabilities
Long term borrowings, related party	0	4,250,000
Long term deferred tax liabilities	12,839,922	12,982,090
Total non-current liabilities	12,839,922	17,232,090
Total liabilities	167,896,951	185,875,506
Commitment and contingencies	0	0
Stockholders' equity
Preferred Stock,$0.00001 par value 20,000,000 shares authorized, none issued at September 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 September 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	(7,734,469)	9,000,724
Accumulated other comprehensive income	2,901,766	3,259,583
Total stockholders' equity	25,366,404	42,459,414
Noncontrolling interest	702,457	722,242
Total equity	26,068,861	43,181,656
TOTAL LIABILITIES AND EQUITY	$ 193,965,812	$ 229,057,162