REBUILDING QIANMEN #3: The new Qianmen Dajie after a 9.5 billion yuan makeover that included the restoration of an electric tram that had been discontinued since the 1960s. Iroonically, the project could not be readied in time for business in August, making it one of the few high-profile projects in Beijing to miss the Olympic deadline. Mr Tian Yun, chairman of Beijing Emperor's Avenue, the real-estate company that is redeveloping Qianmen, said his project did not destroy one single historic building or hutong. 'This is a very big misunderstanding based on untruthful rumours,' he added.