In May 2007, SOCAM entered into an agreement with SOL and Yida Group, an experienced developer in Northern China, to form a joint venture for the development of Dalian Tiandi • Software Hub. According to the agreement, SOCAM, SOL, and Yida took a 22%, 48%, and 30% equity interest respectively in the joint venture. This US$2 billion large-scale and multi-faceted project, which comprises about 3.6 million square metres GFA, will be constructed in six phases over an 8-10 year period. With the mission to transform the city into a major IT and software service centre in Northeast Asia, this project sets out to attract enterprises and IT professionals to Dalian from around the world. It is a mixed-use, integrated development with a "software industry theme", providing a total experience of "live-work-play". It assimilates businesses, IT and software development centres, commercial and residential properties, education and leisure facilities of multi-functional environment. The joint venture combines the strength, expertise and experience of the partners concerned and is poised to create substantial synergies. The project draws on SOCAM's expertise in project management and quality assurance as well as sales and marketing. SOL will lead the master planning and overall design of the development while Yida Group will be responsible for construction management.