Sino-Ocean Property withdraws from Wangjing king

Property developers under the new Deal profits may be a big drop in the retreat of Sino-ocean property to exit rumors of a different "Caixin network" (Comprehensive media reports) in the face of ocean real estate may exit Beijing Grand Wangjing "King" rumors, its insiders have different opinions recently.　　Li Ming, the chief executive of ocean-going property, soon after clarifying the withdrawal, some insiders revealed that the retreat was not impossible. Recently, when asked if he would quit the 1th area of the Grand Wangjing Village, Zhang Senlin, deputy general manager of the Beijing regional division of Ocean Real Estate (03377.HK), said, "It is not impossible to retreat."　　But he also said it was inconvenient to explain too much as his position changed.　　According to the auction rules at that time, ocean real estate has paid 500 million yuan bid margin, according to the transfer notice requirements, if the deposit will be frozen, or even within a certain period of time will be canceled in Beijing to take the qualification.　　The Beijing Land Center declined to respond explicitly to media enquiries.　　On May 13, Li Ming, the chief executive of Ocean Real Estate, at the annual general Meeting held in Hong Kong, clarified the rumours of a "retreat", saying that the $4.08 billion premium payment had been fully paid and the preparatory work for the project began. March 2010, Ocean Real estate to 4.08 billion grand wangjing 1th, floor price of 27,500 yuan per square meters, become Beijing "unit price king."　　At that time, Soho China Board chairman Pan Shiyi had estimated that only 45,000 yuan per square meter sales, developers only 10% of the profit. According to Beijing Zhongyuan three market Research department statistics show that the current Wangjing of second-hand housing average price of 22,000 yuan per square metre, compared to the peak of April per square meter 25,000 yuan, house prices have fallen more than 12%, affordable housing areas and the community around the decline of more than 25%. At this price as a reference, the Wangjing area open average prices have been difficult to sell 30,000 yuan per square metre. (Caixin reporter An Shu)