U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 10-K

                                  (Mark One)


              [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D)
                    OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the fiscal year ended December 31, 2008

             [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D)
                    OF THE SECURITIES EXCHANGE ACT OF 1934

       For the transition period from ______________ to ______________

                       Commission File Number 000-52695

                                ---------------

                      GREATER ASIA REALTY HOLDINGS, LTD.
            (Exact name of registrant as specified in its charter)

                                ---------------

           Delaware                                       30-0477890
-------------------------------                   ---------------------------
(State or other jurisdiction of                        (I.R.S. Employer
incorporation or organization)                        Identification No.)

     c/o Tay Chong Weng, President
    M-3-19 Plaza Damas, Sri Hartamas
         Kuala Lumpur, Malaysia                              50480
----------------------------------------                  -----------
(Address of principal executive offices)                   (zip code)
`
     Registrant's telephone number, including area code:  (603) 2178-4947

                                ---------------

        Securities registered under Section 12(b) of the Exchange Act:

                                     None.

        Securities registered under Section 12(g) of the Exchange Act:

                   Common Stock, $0.0001 par value per share
                   -----------------------------------------
                               (Title of Class)


Check whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. Yes
[X] No [ ]

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-K ({section}229.405 of this chapter) contained herein, and no
disclosure will be contained, to the best of registrant's knowledge, in

<PAGE>

definitive proxy or information statements incorporated by reference in Part
III of this Form 10-K or any amendment to this Form 10-K. [X]

Check whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company.  See
definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer [ ]                               Accelerated Filer [ ]
Non-accelerated Filer   [ ]                       Smaller Reporting Company [X]
(Do not check if a smaller reporting company.)

Check whether the issuer is a shell company (as defined in Rule 12b-2 of the
Exchange Act). Yes [ ] No [X]

As of May 19, 2009, there was one (1) non-affiliate holder of an aggregate of
25,000 shares of the Company's common stock.


                   APPLICABLE ONLY TO CORPORATE REGISTRANTS

As of May 19, 2009, there were 16,415,000 shares of common stock, par value
$.0001, outstanding.

                          FORWARD-LOOKING STATEMENTS

Certain statements made in this Annual Report on Form 10-K are "forward-
looking statements" (within the meaning of the Private Securities Litigation
Reform Act of 1995) regarding the plans and objectives of management for future
operations. Such statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements of
Greater Asia Realty Holdings, Ltd. (the "Company") to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. The forward-looking statements included herein
are based on current expectations that involve numerous risks and
uncertainties. The Company's plans and objectives are based, in part, on
assumptions involving the continued expansion of business. Assumptions relating
to the foregoing involve judgments with respect to, among other things, future
economic, competitive and market conditions and future business decisions, all
of which are difficult or impossible to predict accurately and many of which
are beyond the control of the Company. Although the Company believes its
assumptions underlying the forward-looking statements are reasonable, any of
the assumptions could prove inaccurate and, therefore, there can be no
assurance the forward-looking statements included in this Report will prove to
be accurate. In light of the significant uncertainties inherent in the forward-
looking statements included herein particularly in view of the current state of
our operations, the inclusion of such information should not be regarded as a
statement by us or any other person that our objectives and plans will be
achieved. Factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements include, but are
not limited to, the factors set forth herein under the headings "Business,"
"Plan of Operation" and "Risk Factors". We undertake no obligation to revise or
update publicly any forward-looking statements for any reason.


<PAGE>
                                    PART I

Item 1. Description of Business.

We were incorporated on January 30, 2007, in the State of Delaware.  We were
formed with the stated purpose of conducting any lawful business activity.
However, our purpose is to engage in the real estate business in Malaysia.

We are considered a development stage company.  To date, our activities have
consisted of startup and organizational activities, the development of our
business plan and the raising of initial seed financing through the sale of our
securities.

On December 3, 2007, we filed with the United States Securities and Exchange
Commission ("SEC") a registration statement, on Form S-1 as amended, in
connection with a proposed US$500,000 initial public offering of 500,000 units
at US$1.00 per unit, each consisting of one share of common stock, two Class A
warrants and four Class B warrants. The registration statement was declared
effective by the SEC on January 16, 2008.

Our primary objective is to acquire, make necessary renovations and operate
real properties to generate current positive cash flow while holding such
properties for possible long-term appreciation and resell.

To date we have not purchase any property. Our plan is to acquire at least one
property within 3 months after the completion of our initial public offering.
At that point, we would anticipate acquiring residential properties in the
US$100,000 to US$500,000 range. We expect to acquire the properties using cash,
mortgage financing or our common stock or any combination thereof. We
anticipate that the majority of the properties acquired will be in Kuala
Lumpur, Malaysia. If we decide to sell a property, we will do it ourselves to
the extent deemed practical. If necessary, broker services will be used to
expedite a given sale.

The address of our principal executive office is at c/o Tay Chong Weng, M-3-19
Plaza Damas, Sri Hartamas, Kuala Lumpur 50480, Malaysia, and our telephone
number at this location is (603) 2178-4947.

We have no recent operating history and no representation is made, nor is any
intended, that we will be able to carry on future business activities
successfully.  We may not have the ability to acquire property that will be of
material value to us.  Our management plans to investigate, research, and, if
justified, attempt to acquire properties.  We currently have no commitment or
arrangement, written or oral, to participate in any property acquisition and
management cannot predict the nature of any potential property acquisition it
may ultimately consider. Management will have broad discretion in its search
and negotiations for any property acquisition.

Types of Properties We May Acquire

We intend to acquire the following types of properties:

Residential:  We will seek single-family homes, residential units in existing
buildings and residential apartment buildings.  We will seek properties in low
to middle income areas.  In general, our residential properties will be located
in Kuala Lumpur, Malaysia or elsewhere in the Malaysian Federation.  We
estimate that the range of values for our residential properties will be from
US$100,000 to US$500,000 per property.

Commercial:  We may seek offices and retail stores for acquisition as
commercial properties.  We will seek properties in commercially developed
areas, such as industrial parks and in urban centers. We will initially seek
properties located in Kuala Lumpur, Malaysia and may expand to other areas

<PAGE>

later within the Malaysian Federation.  The estimated range of value for our
commercial properties will be US$500,000 to US$1,000,000 per project.

Undeveloped Properties:  We will seek undeveloped property for resale or
development.  We will seek parcels which are in developed or developing areas
and will be likely candidates for future development.  These properties will be
sought primarily in Johor Bahru, Malaysia.  The estimated range of value for
our undeveloped properties will be US$1,000,000 to US$5,000,000 per project.

Conversion of Existing Structures:  We will seek under utilized or abandoned
commercial properties for conversion to residential use.  We will convert
buildings to achieve their highest and best use.  We do not anticipate
implementing plans for conversion of existing structures until after we have
acquired other properties and have established our business operations.  The
estimated range of value and costs for a conversion project is at least
US$2,500,000.

Our Business Policies with Respect to Acquiring and Financing Properties

The following is a discussion of our business policies with respect to
acquisition, development, financing and certain other activities.  Our policies
have been determined by our Board of Directors and, although the Board
currently does not contemplate any changes to the policies, the Board may
change these policies without a vote or other approval of stockholders.

Acquisition and Development Policies

Our business and growth strategies are designed to maximize total return to
stockholders over the medium term of approximately one to three years and the
long term of more than three years. Our current policies contemplate the
possibility of (1) direct ownership of income producing real estate properties,
including ownership through wholly-owned Malaysian subsidiaries, (2)
acquisition of unimproved property for development or resale, and (3) the
acquisition and conversion of existing structures, which will involve turning
commercial properties into residential properties.   At the present time, we
are interested in suitable properties located in Kuala Lumpur, Malaysia.
Eventually we will seek properties throughout the Malaysian Federation.
Generally, we intend to hold our properties for the long term. However, we may
sell properties when we believe the economic benefits to our stockholders
warrant such action. Our policy will be to acquire assets primarily for
possible capital gain.

Although we have no formal plan as to the allocation of assets among our
investments, we generally intend after startup to limit investment in a single
property to a maximum of 50% of our total assets. We expect to fund future
development and acquisitions utilizing funds from future offerings of our
securities, issuances of our equity securities, sale or exchange of existing
properties, borrowed funds and retained cash flow.  We believe our capital
structure is advantageous because it permits us to acquire additional
properties by issuing equity securities in whole or in part as consideration
for the acquired properties, and our equity securities may be our primary
consideration for acquisition during our startup phase.

We intend to locate suitable properties through the use of licensed real estate
brokers who will be advised of our requirements.  It is anticipated that the
sellers of the properties will pay any broker commissions or fees relating to
the sale of properties to us.

Financing Policies

We intend to make additional investments in properties and may incur
indebtedness to make those investments. We have no limitation on the number or
amount of secured indebtedness or mortgages that may be placed on any one of

<PAGE>

our future properties.

Secured indebtedness incurred by us may be in the form of purchase money
obligations to the sellers of properties, publicly or privately placed debt
instruments, or financing from banks, institutional investors or other lenders.
This indebtedness may be recourse to all or any part of our assets, or may be
limited to the particular property to which the indebtedness relates. The
proceeds from any borrowings by us may be used for refinancing existing
indebtedness, for financing development and acquisition of properties, for the
payment of dividends and for working capital.

If the Board determines to raise additional equity capital, the Board has the
authority, generally without stockholder approval, to issue additional common
stock, preferred stock or other of our capital stock in any manner (and on such
terms and for such consideration) as it deems appropriate, including in
exchange for property. Existing stockholders have no preemptive right to
purchase shares issued in any offering, and any such offering might cause a
dilution of a stockholder's investment in us.

Competition

The first competitive consideration is to locate real estate for purchase that
is within our pricing limitations and is considered to be priced right for the
market in that particular area. The competition for real estate is intense, and
includes firms as small as one person working out of their home to multi-
national conglomerates.

Once a property is acquired, the first task is to complete necessary repairs
and renovations. When the property is available for sale, the major risk factor
is to conclude a profitable sale. In this regard, a problem with some
properties is the individuals who agree to a purchase contract may not be
qualified to receive mortgage financing. The time period of removing the
property from the market and then discovering that the purchaser is not
mortgage qualified is costly in terms of reduced profits when a sale is
concluded.

Our profit potential is wholly dependent upon the ability of our officers and
employees to purchase property and resell it at a price level which will
provide profits to us. There is no assurance that these objectives will be
realized. It is reasonable to assume that any property acquired and prepared
for resale will eventually be sold. However, it may be that an eventual resale
will be at a loss.

Because of the nature of this business there are no statistics that indicate
the number of investors in the business or the financial extent of their
activities. We will basically be in the same competitive position as any other
investor seeking to purchase real estate in our anticipated price range.

Governmental Regulations, Approval, Compliance

The purchase and sale of real estate is essentially a private transaction. We
do not expect that environmental laws of Malaysia will have any impact on our
planned real estate purchases, either in terms of compliance or cost or
otherwise. We do not intend to purchase any property where environmental
concerns exist.

Foreign Ownership Regulation of Malaysia

There are three main areas of regulation of real property in Malaysia. First,
the National Land Code of 1965 is the most significant legal regulation of real
estate transactions. Second, the constitution of Malaysia gives the national
government responsibility and rights in regulating property ownership. Third,
Malaysia is subdivided into 14 states that each has their own land rules for

<PAGE>

the regulation of the ownership of land and buildings.

The National Land Code was altered in 1992 to add controls on foreign purchase
of real property. Specifically, the Code requires foreigners to obtain
permission from the government for the purchase of agricultural, residential,
or commercial land. Industrial land is excluded from this restriction.

There are other significant restrictions. For example, foreign purchase of
residential or commercial real estate for investment and not owner occupancy
must be made through the formation of a Malaysian company that has not only 70%
ownership by Malaysian citizens, but also 30% ownership by indigenous
Malaysians. In addition, in any multi-unit residential development, foreign
ownership is limited to specific percentages of overall units based on the type
of multi-unit development: 10% of attached and semi-detached homes, 30% of
multi-family or vacation homes.

In recent years, the Malaysian government has relaxed its rules restricting
foreign property ownership with the hope to stimulate the real estate market
and to clear the inventory of commercial projects constructed during the boom
years before the 1997-98 Asian financial crisis. The new rules, affected on
April 25, 2001 allow non-Malaysians to purchase all types of properties without
having to set up a company with local equity partners. Based on the rules,
foreigners can also buy into projects on which construction has not started and
borrow from local banks to finance their property purchases based on the new
rules.

Nevertheless, the rule that any property bought by non-Malaysians must be
priced at a minimum of 250,000 Ringgit (about US$78,554.60 on 03-05-2008
exchange rate) has not been changed. In the past, foreigners had to establish a
local firm with 49 percent Malaysian equity in order to buy a commercial
property. Additionally, they had to obtain approval from the Foreign Investment
Committee. To induce foreign companies, the government now let foreign firms
own offices costing 250,000 Ringgit and above without local equity partners.

Employees

It is anticipated that the only employee of this business in the near future
will be our President. All other operative functions, such as repairs and/or
renovations to the real estate will be handled by independent contractors or
consultants.

Investment Policies

The following is a discussion of our investment policies regarding real estate
and interests in real estate, real estate mortgages and securities of
businesses engaged in real estate activities.  Also included is a discussion of
our policies regarding securities, lending and borrowing money, management of
investments and related activities.

Our policies have been determined by our Board of Directors.  The Board does
not currently contemplate any changes to these policies.  However, the Board
may change the policies without a vote or other approval of shareholders.

Real Estate and Interests in Real Estate

We propose to invest in a variety of real estate properties and interests.
These investments will primarily involve personal residences (homes and units
in apartment buildings) and entire residential buildings, commercial
properties, undeveloped land and existing commercial properties for conversion
to residential use.

There are no limitations on the percentages of our assets which may be invested
in any one property or type of property.  After startup, we intend to limit

<PAGE>

investment in a single property to a maximum of 50% of our total assets.  We do
not have any policy which imposes a limitation on the number or amount of
mortgages which may be placed on any one piece of property. Our policy will be
to acquire assets primarily for possible capital gain.

Investments in Real Estate Mortgages

We do not currently propose to invest in mortgages on properties owned by
others.  We do not propose to engage in any activities relating to the
origination, servicing or warehousing of mortgages.

Item 1A. Risk Factors

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide this information.

Item 1B.  Unresolved Staff Comments

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide this information.

Item 2. Description of Property.

We do not currently own any property or real estate of any kind. Our address is
located at c/o Tay Chong Weng, M-3-19 Plaza Damas, Sri Hartamas, Kuala Lumpur
50480, Malaysia. The phone number at this location is (603) 2178-4947.

Item 3. Legal Proceedings.

To the best knowledge of our officers and directors, the Company is not a party
to any legal proceeding or litigation.

Item 4. Submission of Matters to a Vote of Security Holders.


None.

                                    PART II

Item 5. Market for Common Equity, Related Stockholder Matters and Small
Business Issuer Purchases of Equity Securities.

Common Stock

Our Certificate of Incorporation authorizes the issuance of up to 250,000,000
shares of Common Stock. Our common stock has never been publicly traded.  As of
May 19, 2009, there were two holders of record of our Common Stock. Subject
to the sponsorship of a market maker, shares of our common stock will be traded
in the over-the-counter market on the OTC Electronic Bulletin Board after our
shares become legally eligible to trade.

Preferred Stock

Our Certificate of Incorporation authorizes the issuance of up to 20,000,000
shares of Preferred Stock. The Company has not yet issued any of the Preferred
Stock.

Dividend Policy

The Company has not declared or paid any cash dividends on Common Stock and
does not intend to declare or pay any cash dividend in the foreseeable future.
The payment of dividends, if any, is within the discretion of the Board of
Directors and will depend on the Company's earnings, if any, its capital

<PAGE>

requirements and financial condition and such other factors as the Board of
Directors may consider.

Securities Authorized for Issuance Under Equity Compensation Plans

Stock Option Plan

On November 2, 2007, our shareholder and director adopted the 2007 Greater Asia
Realty Holdings, Ltd. Stock Option Plan. The plan authorizes the granting of
options to purchase up to 1,000,000 shares of our common stock. The board's
responsibility will include the selection of option recipients, as well as, the
type of option granted and the number of shares covered by the option and the
exercise price. No options have been granted under the plan as of the date of
this report.

Plan options may either qualify as non-qualified options or incentive stock
options under Section 422 of the Internal Revenue Code. Any incentive stock
option granted under the plan must provide for an exercise price of at least
100% of the fair market value on the date of such grant and a maximum term of
ten years. If the employee owns more than 10% of our stock, the exercise price
of any incentive option granted must be at least 110% of fair market value and
must be exercised within five years after the grant.

All of our officers, directors, key employees and consultants will be eligible
to receive non-qualified options under the plan. Only officers, directors and
persons who are formally employed by Greater Asia Realty Holdings, Ltd. are
eligible to receive incentive options.

All incentive options are non-assignable and non-transferable, except by will
or by the laws of descent and distribution. If an optionee's employment is
terminated for any reason other than death or disability, the stock option will
lapse on the earlier of the expiration date or three months following the date
of termination. If the optionee dies during the term of employment, the stock
option will lapse on the earlier of the expiration date of the option or the
date one-year following the date of death. If the optionee is permanently and
totally disabled within the meaning of Section 22(e)(3) of the Internal Revenue
Code, the plan option will lapse on the earlier of the expiration date of the
option or one year following the date of such disability.

Recent Sales of Unregistered Securities

We sold the following equity securities that were not registered under the
Securities Act since our incorporation on January 30, 2007 to December 31,
2007.

With our formation on January 30, 2007, we issued 1,390,000 shares to our
founder Mr. Tay Chong Weng. Mr. Tay Chong Weng paid $139 for these shares,
which were issued pursuant to an exemption from registration under Section 4(2)
of the Securities Act.

On February 12, 2007, we issued 15,000,000 shares to our founding shareholder
Mr. Tay Chong Weng. The shares were issued for the development of our business
concept and plan and valued at $1,500. The shares were issued pursuant to an
exemption from registration under Section 4(2) of the Securities Act.

On November 14, 2007, we issued 25,000 shares to our securities counsel, Gary
L. Blum, Esq. The shares were issued for legal services and valued at $2,500.
The shares were issued pursuant to an exemption from registration under Section
4(2) of the Securities Act.

The issuance of these shares was exempt from registration pursuant to Section
4(2) of the Securities Act of 1933. All of these shares were acquired for
investment purposes only and without a view to distribution. The persons who

<PAGE>

received these shares were fully informed about matters concerning the Company,
including its business, financial affairs and other matters and acquired the
securities for their own accounts.

Issuer Purchases of Equity Securities

None.

Item 6.  Selected Financial Data

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide this information.

Item 7.  Management's Discussion and Analysis of Financial Condition and
Results of Operation

Plan of Operation

The following plan of operation provides information which we believe is
relevant to an assessment and understanding of our results of operations and
financial condition. The discussion should be read along with our financial
statements and notes thereto. We are a development stage company. Because we
have not generated any revenue, we intend to report our plan of operation
below.

The following discussion and analysis contains forward-looking statements,
which involve risks and uncertainties. Our actual results may differ
significantly from the results, expectations and plans discussed in these
forward-looking statements.

Our operations have been devoted primarily to developing a business plan and
raising capital for future operations and administrative functions. Because of
uncertainties surrounding our development, we anticipate incurring development
stage losses in the foreseeable future. Our ability to achieve our business
objectives is contingent upon our success in raising additional capital until
adequate revenues are realized from operations.

During the next twelve months, we expect to take the following steps in
connection with the development of our business and the implementation of our
plan of operations:

Raising Capital - we hope to raise US$500,000 through the sale of our
securities in our initial public offering. We may find it difficult to raise
that amount of capital required of us to commence full operation, because we
are a development stage company with no history of operation.  Provided that we
are successful in raising a minimum of US$125,000 from the initial public
offering, we believe we can commence operations on a limited scale for at least
twelve months.  In this event, we will only invest in properties that generate
positive cash flow.  If only the minimum amount or an amount not substantially
in excess of the minimum amount is raised in the initial public offering, we
will need to raise additional funds from other sources to expand operations.
There can be no assurance that we will be successful in raising the capital we
require through the sale of our securities.

Acquiring Properties - we intend to notify real estate brokers operating in
geographical areas of interest to us that we are interested in acquiring
suitable developed or undeveloped properties.  When appropriate properties are
identified, we will negotiate for an acceptable purchase price and terms.  As
consideration for any acquisition, we would use our capital, our equity and
borrowed funds secured by the property acquired.

Relationships with Banks - management intends to use the startup phase to
introduce us to banks and other lending institutions that may be interested in

<PAGE>

making secured loans to us in order to pay for properties.

Development of Properties - if we acquire undeveloped properties we will try to
determine appropriate development plans for the property.  We may engage
outside consultants and property managers to assist us in developing these
plans.

Each of these steps present significant risks with respect to our ability to
implement our plan of operations, which are discussed in the "Risk Factors"
section of this report.

We intend to grow through internal development, strategic alliances, and
acquisitions of properties. Because of uncertainties surrounding our
development and limited operating history, we anticipate incurring development
stage losses in the foreseeable future. Our ability to achieve our business
objectives is contingent upon our success in raising additional capital until
adequate revenues are realized from operations.

There is intense competition in the real estate investment market with other
companies that are much larger and both national and international in scope and
which have greater financial resources than we have.  At present, we require
additional capital to make our full entrance into this industry.

We have filed a registration statement with the U.S. Securities and Exchange
Commission, in part, because we believe that an early registration of our
equity securities will minimize some of the barriers to capital formation that
otherwise exist. By having a registration statement in place, we believe that
we will be in a better position, either to conduct a future public offering of
our securities or to undertake a private placement with registration rights,
than if we were a privately held company. Registering our shares may help
minimize the liquidity discounts we may otherwise have to take in a future
financing because investors will have a high degree of confidence that the Rule
144(c)(1) public information requirement will be satisfied and a public market
may exist to effect Rule 144(g) broker transactions.

We believe that the cost of registering our securities and undertaking the
required disclosure obligations will be more than offset by being able to get
better terms for future financing efforts.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are
reasonably likely to have a current or future effect on the Company's financial
condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that is
material to investors.

Contractual Obligations

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide this information.

Item 7A.  Quantitative and Qualitative Disclosures about Market Risk.

As a "smaller reporting company" as defined by Item 10 of Regulation S-K, the
Company is not required to provide this information.

<PAGE>

Item 8.  Financial Statements and Supplementary Data.

<TABLE>
<CAPTION>
                      GREATER ASIA REALTY HOLDINGS, LTD.
                        (A DEVELOPMENT STAGE COMPANY)
                                BALANCE SHEET
                                 (UNAUDITED)

                                                                 AS AT
                                                                DECEMBER
                                                                31, 2008
                                                              ------------
<S>                                                           <C>
                                   ASSETS

    CURRENT ASSETS

          Cash                                                $         --
                                                              ------------

    TOTAL CURRENT ASSETS                                                --
                                                              ------------

          TOTAL ASSETS                                        $         --
                                                              ============


                 LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)

    CURRENT LIABILITIES

          Shareholder Advances                                $      1,127
          Accounts Payable                                           1,100
                                                              ------------

    TOTAL CURRENT LIABILITIES                                        2,227
                                                              ------------

          TOTAL LIABILITIES                                          2,227


    STOCKHOLDERS' EQUITY (DEFICIT)

         Preferred stock, ($.0001 par value, 20,000,000
          shares authorized; none issued and outstanding.)              --

         Common stock ($.0001 par value, 250,000,000
          shares authorized; 16,415,000 shares issued and
          outstanding as of December 31, 2008)                       1,642

         Additional paid-in capital                                  2,497

         Deficit accumulated during development stage               (6,366)
                                                              ------------
    TOTAL STOCKHOLDERS' EQUITY (DEFICIT)                            (2,227)

                                                              ------------

    TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)        $         --
                                                              ============
</TABLE>

                       See Notes to Financial Statements

<PAGE>
<TABLE>
<CAPTION>

                    GREATER ASIA REALTY HOLDINGS, LTD.
                      (A DEVELOPMENT STAGE COMPANY)
                        STATEMENTS OF OPERATIONS
                              (UNAUDITED)


                                                                    JANUARY 30, 2007
                                                     FOR THE          (INCEPTION)        CUMULATIVE
                                                   YEAR ENDED           THROUGH        SINCE INCEPTION
                                                   DECEMBER 31,       DECEMBER 31,     AT DECEMBER 31,
                                                      2008                2007              2008
                                                 ---------------    ---------------    ---------------
<S>                                              <C>                <C>                <C>

    REVENUES

        Revenues                                 $            --    $            --    $            --
                                                 ---------------    ---------------    ---------------

    TOTAL REVENUES                                            --                 --                 --

    GENERAL & ADMINISTRATIVE EXPENSES
        Organization and related expenses                     --                139                139
        General and admistrative expenses                     --              6,227              6,227
                                                 ---------------    ---------------    ---------------

    TOTAL GENERAL & ADMINISTRATIVE EXPENSES                   --              6,366              6,366
                                                 ---------------    ---------------    ---------------

    NET LOSS                                     $            --    $        (6,366)   $        (6,366)
                                                 ===============    ===============    ===============


    BASIC LOSS PER SHARE                                      --    $         (0.00)   $         (0.00)
                                                 ===============    ===============    ===============

    WEIGHTED AVERAGE NUMBER OF
      COMMON SHARES OUTSTANDING - BASIC AND
      DILUTED                                         16,415,000         16,415,000         16,415,000
                                                 ===============    ===============    ===============
</TABLE>

                       See Notes to Financial Statements


<PAGE>
<TABLE>
<CAPTION>

                                                GREATER ASIA REALTY HOLDINGS, LTD.
                                                  (A DEVELOPMENT STAGE COMPANY)
                                     STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
                                   FROM JANUARY 30, 2007 (INCEPTION) THROUGH DECEMBER 31, 2008
                                                           (UNAUDITED)


                                                                                                  DEFICIT
                                                                                                ACCUMULATED
                                          COMMON           COMMON           ADDITIONAL            DURING
                                           STOCK            STOCK             PAID-IN           DEVELOPMENT
                                                           AMOUNT             CAPITAL              STAGE           TOTAL
                                         ----------      ----------         ----------          -----------     ----------
<S>                                      <C>             <C>                <C>                 <C>             <C>

Shares issued for formation expenses
at $.0001 per share, January 30, 2007
(inception)                               1,390,000      $      139         $       --          $       --      $      139

Shares issued for services rendered at
$.0001 per share, February 12, 2007      15,000,000           1,500                 --                  --           1,500

Shares issued for services rendered at
$.10 per share, November 14, 2007            25,000               3              2,497                  --           2,500

Net loss, for the period ended
December 31, 2008                                --              --                 --              (6,366)         (6,366)
                                         ----------      ----------         ----------          -----------     ----------
Balance, December 31, 2008               16,415,000      $    1,642         $    2,497          $   (6,366)     $   (2,227)
                                         ==========      ==========         ==========          ===========     ==========
</TABLE>

                       See Notes to Financial Statements



<PAGE>
<TABLE>
<CAPTION>

                                 GREATER ASIA REALTY HOLDINGS, LTD.
                                   (A DEVELOPMENT STAGE COMPANY)
                                     STATEMENTS OF CASH FLOWS
                                           (UNAUDITED)

                                                                                                                  CUMULATIVE
                                                                                             JANUARY 30, 2007        SINCE
                                                                             FOR THE           (INCEPTION)        (INCEPTION)
                                                                            YEAR ENDED           THROUGH            THROUGH
                                                                            DECEMBER 31,       DECEMBER 31,       DECEMBER 31,
                                                                               2008                2007              2008
                                                                          ---------------    ---------------    ---------------
<S>                                                                                          <C>                <C>

    CASH FLOWS FROM OPERATING ACTIVITIES

        Net income (loss)                                                 $            --    $        (6,366)   $        (6,366)

        Issuance of stock for formation expenses                                       --                139                139

        Issuance of stock for services rendered                                        --              4,000              4,000
                                                                          ---------------    ---------------    ---------------

         NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES              $            --    $        (2,227)   $        (2,227)

    CASH FLOWS FROM INVESTING ACTIVITIES

         NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES              $            --    $            --    $            --
                                                                          ---------------    ---------------    ---------------

    CASH FLOWS FROM FINANCING ACTIVITIES

        Advances from stockholder                                                      --              1,127              1,127
        Accounts payable                                                               --              1,100              1,100
                                                                          ---------------    ---------------    ---------------

         NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES              $            --    $         2,227    $         2,227
                                                                          ---------------    ---------------    ---------------

        NET INCREASE (DECREASE) IN CASH                                   $            --    $            --    $            --

        CASH AT BEGINNING OF YEAR                                                      --                 --                 --
                                                                          ---------------    ---------------    ---------------

        CASH AT END OF YEAR                                               $            --    $            --    $            --
                                                                          ===============    ===============    ===============

    NONCASH INVESTING AND FINANCING ACTIVITIES:

    Common stock issued for services rendered                             $            --    $         4,139    $         4,139
                                                                          ===============    ===============    ===============

    SUPPLEMENTAL DISCLOSURES OF CASH FLOW
    INFORMATION:

    Interest paid                                                         $            --    $            --    $            --
                                                                          ===============    ===============    ===============

    Income taxes paid                                                     $            --    $            --    $            --
                                                                          ===============    ===============    ===============
</TABLE>

                       See Notes to Financial Statements



<PAGE>
                      GREATER ASIA REALTY HOLDINGS, LTD.
                         (A DEVELOPMENT STAGE COMPANY)
                         NOTES TO FINANCIAL STATEMENTS
     FOR THE PERIOD FROM JANUARY 30, 2007 (INCEPTION) TO DECEMBER 31, 2008


NOTE 1.  ORGANIZATION AND DESCRIPTION OF BUSINESS

Greater Asia Realty Holdings, Ltd. (the "Company") was incorporated in the
State of Delaware on January 30, 2007 in order to create and realize value by
identifying and making opportunistic real estate investments by the direct
acquisition, rehabilitation, financing and management of real properties in
Malaysia.

NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION - DEVELOPMENT STAGE COMPANY

The Company has not earned any revenue from operations. Accordingly, the
Company's activities have been accounted for as those of a "Development Stage
Company" as set forth in Financial Accounting Standards Board Statement No. 7
("SFAS 7"). Among the disclosures required by SFAS 7 are that the Company's
financial statements be identified as those of a development stage company, and
that the statements of operations, stockholders' equity and cash flows disclose
activity since the date of the Company's inception.

ACCOUNTING METHOD

The Company's financial statements are prepared using the accrual method of
accounting. The Company has elected a fiscal year ending on December 31.

USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and
the reported amounts of revenues and expenses during the reporting period. In
the opinion of management, all adjustments necessary in order to make the
financial statements not misleading have been included. Actual results could
differ from those estimates.

CASH EQUIVALENTS

The Company considers all highly liquid investments with maturity of three
months or less when purchased to be cash equivalents.

INCOME TAXES

Income taxes are provided in accordance with Statement of Financial Accounting
Standards No. 109 (SFAS 109), Accounting for Income Taxes. A deferred tax asset
or liability is recorded for all temporary differences between financial and
tax reporting and net operating loss carryforwards.  Deferred tax expense
(benefit) results from the net change during the year of deferred tax assets
and liabilities. Deferred tax assets are reduced by a valuation allowance when,
in the opinion of management, it is more likely than not that some portion of
all of the deferred tax assets will be realized.  Deferred tax assets and
liabilities are adjusted for the effects of changes in tax laws and rates on
the date of enactment. There were no current or deferred income tax expenses or
benefits due to the Company not having any material operations for period ended
December 31, 2008.


<PAGE>
                      GREATER ASIA REALTY HOLDINGS, LTD.
                         (A DEVELOPMENT STAGE COMPANY)
                         NOTES TO FINANCIAL STATEMENTS
     FOR THE PERIOD FROM JANUARY 30, 2007 (INCEPTION) TO DECEMBER 31, 2008


NOTE 2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

BASIC EARNINGS (LOSS) PER SHARE

In February 1997, the FASB issued SFAS No. 128, "Earnings Per Share", which
specifies the computation, presentation and disclosure requirements for
earnings (loss) per share for entities with publicly held common stock. SFAS
No. 128 supersedes the provisions of APB No. 15, and requires the presentation
of basic earnings (loss) per share and diluted earnings (loss) per share. The
Company has adopted the provisions of SFAS No. 128 effective January 30, 2007
(inception).

Basic net loss per share amounts is computed by dividing the net income by the
weighted average number of common shares outstanding.  Diluted earnings per
share are the same as basic earnings per share due to the lack of dilutive
items in the Company.

IMPACT OF NEW ACCOUNTING STANDARDS

The Company does not expect the adoption of recently issued accounting
pronouncements to have a significant impact on the Company's results of
operations, financial position, or cash flow.

NOTE 3. GOING CONCERN

The Company's financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern that contemplates the realization of assets and liquidation of
liabilities in the normal course of business. The Company has not established
any source of revenue to cover its operating costs. The Company will engage in
very limited activities without incurring any liabilities that must be
satisfied in cash until a source of funding is secured. The Company will offer
noncash consideration and seek equity lines as a means of financing its
operations. If the Company is unable to obtain revenue producing contracts or
financing or if the revenue or financing it does obtain is insufficient to
cover any operating losses it may incur, it may substantially curtail or
terminate its operations or seek other business opportunities through strategic
alliances, acquisitions or other arrangements that may dilute the interests of
existing stockholders.

NOTE 4. RELATED PARTY TRANSACTIONS

On January 30, 2007, the Company issued 1,390,000 shares of common stock for
$139 in services to the founding shareholder of the Company to fund
organizational start-up costs.

On February 12, 2007, the Company issued 15,000,000 shares of common stock to
the founding shareholder for the development of our business concept and plan.
The services were valued at $1,500.

As of December 31, 2008, the Company owed the President and CEO of the Company
an outstanding balance of $1,127 for expenses incurred on its behalf. The
advance is non-interest bearing and no interest has been accrued.


<PAGE>
                      GREATER ASIA REALTY HOLDINGS, LTD.
                         (A DEVELOPMENT STAGE COMPANY)
                         NOTES TO FINANCIAL STATEMENTS
     FOR THE PERIOD FROM JANUARY 30, 2007 (INCEPTION) TO DECEMBER 31, 2008


NOTE 5.  SHAREHOLDER'S EQUITY

Upon formation, the Board of Directors issued 1,390,000 shares of common stock
for $139 in services to the founding shareholder of the Company to fund
organizational start-up costs.

On February 12, 2007, the Company issued 15,000,000 shares of common stock to
our founding shareholder for the development of our business concept and plan.
The services were valued at $1,500.

On November 14, 2007, the Company issued 25,000 shares of common stock to Gary
L. Blum for legal services rendered in connection with the Company's proposed
public offering of securities. The services were valued at $2,500.

The stockholders' equity section of the Company contains the following classes
of capital stock as of DECEMBER 31, 2008:

       * Common stock, $0.0001 par value: 250,000,000 shares authorized;
       16,415,000 shares issued and outstanding.

       * Preferred stock, $0.0001 par value: 20,000,000 shares
       authorized; but not issued and outstanding.

NOTE 6. STOCK OPTION PLAN

On November 2, 2007, the Company adopted the 2007 Greater Asia Realty Holdings,
Ltd. Stock Option Plan ("Plan"). The Plan provides for the issuance of up to
1,000,000 shares for options over a ten-year period. Under provisions of the
Plan, the purchase price for a share of stock subject to the options shall not
be less than 100% of the fair market value of the stock at the date of grant.
As of December 31, 2008 no options had been granted under the Plan.

<PAGE>

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosure.

There are not and have not been any disagreements between the Company and its
accountants on any matter of accounting principles, practices or financial
statement disclosure.

Item 9A(T). Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company's management is responsible for establishing and maintaining a
system of disclosure controls and procedures (as defined in Rule 13a-15(e) and
15d-15(e) under the Exchange Act) that is designed to ensure that information
required to be disclosed by the Company in the reports that the Company files
or submits under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the Commission's rules and
forms.  Disclosure controls and procedures include, without limitation,
controls and procedures designed to ensure that information required to be
disclosed by an issuer in the reports that it files or submits under the
Exchange Act is accumulated and communicated to the issuer's management,
including its principal executive officer or officers and principal financial
officer or officers, or persons performing similar functions, as appropriate to
allow timely decisions regarding required disclosure.

In accordance with Exchange Act Rules 13a-15 and 15d-15, an evaluation was
completed under the supervision and with the participation of the Company's
management, including the Company's President, Principal Financial Officer and
Secretary, of the effectiveness of the design and operation of the Company's
disclosure controls and procedures as of the end of the period covered by this
Annual Report.  Based on that evaluation, the Company's sole officer concluded
that the Company's disclosure controls and procedures were effective in
providing reasonable assurance that information required to be disclosed in the
Company's reports filed or submitted under the Exchange Act was recorded,
processed, summarized, and reported within the time periods specified in the
Commission's rules and forms.

Evaluation of Internal Controls over Financial Reporting

This  annual  report  does  not  include  a  report  of management's assessment
regarding internal control over financial reporting or an attestation report of
the  company's  registered public accounting firm due to  a  transition  period
established by rules  of  the U.S. Securities and Exchange Commission for newly
public companies.

Changes in Internal Controls over Financial Reporting

There have been no significant changes to the Company's internal controls over
financial reporting that occurred during our last fiscal quarter of the year
ended December 31, 2008, that materially affected, or were reasonably likely to
materially affect, our internal controls over financial reporting.

Item 9B. Other Information.

None.

<PAGE>
                                   PART III

Item 10. Directors, Executive Officers, Promoters and Control Persons;
Compliance With Section 16(a) of the Exchange Act.

(a)  Identification of Directors and Executive Officers.  The following table
sets forth certain information regarding the Company's directors and executive
officers:


Name               Age     Position                      Term
----               ---     --------                      ----
Tay Chong Weng     71      President, Chief Executive    January 30, 2007 to
                           Officer, Chief Financial      Present
                           Officer and Director

The Company's officers and directors are elected annually for a one year term
or until their respective successors are duly elected and qualified or until
their earlier resignation or removal.

Tay Chong Weng has served as our President, Chief Executive Officer, Chief
Financial Officer and Director since our incorporation in January 30, 2007. For
the past five years, Mr. Tay Chong Weng is a private investor, devoting most of
his time managing his own investment in real estate, including residential real
estate investments as well as income producing properties. His real estate
experience involved the purchase and sale of properties, but did not include
any development of unimproved property or the conversion of existing structures
for new uses.

(b)  Significant Employees.

As of the date hereof, the Company has no significant employees.

(c)  Family Relationships.

There are no family relationships among directors, executive officers, or
persons nominated or chosen by the issuer to become directors or executive
officers.

(d)   Involvement in Certain Legal Proceedings.

There have been no events under any bankruptcy act, no criminal proceedings and
no judgments, injunctions, orders or decrees material to the evaluation of the
ability and integrity of any director, executive officer, promoter or control
person of Registrant during the past five years.

Compliance with Section 16(a) of the Exchange Act

Section 16(a) of the Exchange Act requires the Company's directors and
officers, and persons who beneficially own more than 10% of a registered class
of the Company's equity securities, to file reports of beneficial ownership and
changes in beneficial ownership of the Company's securities with the SEC on
Forms 3, 4 and 5. Officers, directors and greater than 10% stockholders are
required by SEC regulation to furnish the Company with copies of all
Section 16(a) forms they file.

Based solely on the Company's review of the copies of the forms received by it
during the fiscal year ended December 31, 2008 and written representations that
no other reports were required, the Company believes that believes that no
person who, at any time during such fiscal year, was a director, officer or
beneficial owner of more than 10% of the Company's common stock failed to
comply with all Section 16(a) filing requirements during such fiscal years.

<PAGE>

Code of Ethics

On February 18, 2008, the Company adopted a formal code of ethics statement for
senior financial officers, employees, and the principal executive officers (the
"Code of Ethics") that is designed to deter wrongdoing and to promote ethical
conduct and full, fair, accurate, timely and understandable reports that the
Company files or submits to the U.S. Securities and Exchange Commission and
others.  A form of the Code of Ethics is attached hereto as Exhibit 14.1.
Requests for copies of the Code of Ethics should be sent in writing to Greater
Asia Realty Holdings, Ltd., Attention: Mr. Tay Chong Weng, President, M-3-19
Plaza Damas, Sri Hartamas, Kuala Lumpur, Malaysia 50480.

Nominating Committee

We have not adopted any procedures by which security holders may recommend
nominees to our Board of Directors.

Audit Committee

The Board of Directors acts as the audit committee. The Company does not have a
qualified financial expert at this time because it has not been able to hire a
qualified candidate. Further, the Company believes that it has inadequate
financial resources at this time to hire such an expert.  The Company intends
to continue to search for a qualified individual for hire.

Item 11. Executive Compensation.

Executive Compensation

Our sole director does not currently receive and has never received any
compensation for serving as a director to date.  In addition, at present, there
are no ongoing plans or arrangements for compensation of any of our officers.
However, we expect to adopt a plan of reasonable compensation to our officers
and employees when and if we become operational and profitable.

Stock Option Plan

On November 2, 2007, our shareholder and director adopted the 2007 Greater Asia
Realty Holdings, Ltd. Stock Option Plan. The plan authorizes the granting of
options to purchase up to 1,000,000 shares of our common stock. The board's
responsibility will include the selection of option recipients, as well as, the
type of option granted and the number of shares covered by the option and the
exercise price. No options have been granted under the plan.

Plan options may either qualify as non-qualified options or incentive stock
options under Section 422 of the Internal Revenue Code. Any incentive stock
option granted under the plan must provide for an exercise price of at least
100% of the fair market value on the date of such grant and a maximum term of
ten years. If the employee owns more than 10% of our stock, the exercise price
of any incentive option granted must be at least 110% of fair market value and
must be exercised within five years after the grant.
All of our officers, directors, key employees and consultants will be eligible
to receive non-qualified options under the plan. Only officers, directors and
persons who are formally employed by Greater Asia Realty Holdings, Ltd. are
eligible to receive incentive options.

All incentive options are non-assignable and non-transferable, except by will
or by the laws of descent and distribution. If an optionee's employment is
terminated for any reason other than death or disability, the stock option will
lapse on the earlier of the expiration date or three months following the date
of termination. If the optionee dies during the term of employment, the stock
option will lapse on the earlier of the expiration date of the option or the
date one-year following the date of death. If the optionee is permanently and

<PAGE>

totally disabled within the meaning of Section 22(e)(3) of the Internal Revenue
Code, the plan option will lapse on the earlier of the expiration date of the
option or one year following the date of such disability.

Employment Agreements

We have not entered into any employment agreements with any of our employees,
and employment arrangements are all subject to the discretion of our board of
directors.

Item 12. Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters.

(a) The following tables set forth certain information as of May 19, 2009,
regarding (i) each person known by the Company to be the beneficial owner of
more than 5% of the outstanding shares of Common Stock, (ii) each director,
nominee and executive officer of the Company and (iii) all officers and
directors as a group.


                                Amount and Nature
Name and                        of Beneficial             Percentage
Address                         Ownership                 of Class
-------                         ---------                 --------

Tay Chong Weng (1)              16,390,000                 99.8%
M-3-19, Plaza Damas,
Sri Hartamas 50480
Kuala Lumpur, Malaysia

All Directors and               16,390,000                 99.8%
Officers as a Group
(1 individual)

----------------------
    (1) Tay Chong Weng serves as the sole officer and director of the Company.


Item 13. Certain Relationships and Related Transactions.

Except as otherwise indicated herein, there have been no related party
transactions, or any other transactions or relationships required to be
disclosed pursuant to Item 404 of Regulation S-K.

Item 14.  Principal Accounting Fees and Services

Stan J.H. Lee, CPA ("SJHL") is the Company's independent registered public
accounting firm.

Audit Fees

The aggregate fees billed by SJHL for professional services rendered for the
audit of our annual financial statements and review of financial statements
included in our quarterly reports on Form 10-Q or services that are normally
provided in connection with statutory and regulatory filings were $0 for the
fiscal year ended December 31, 2008 and $2,150 for the fiscal year ended
December 31, 2007.

Audit-Related Fees

There were no fees billed by SJHL for assurance and related services that are
reasonably related to the performance of the audit or review of the Company's
financial statements for the fiscal year ended December 31, 2008 and for the

<PAGE>

fiscal year ended December 31, 2007.

Tax Fees

There were no fees billed by SJHL for professional services for tax compliance,
tax advice, and tax planning for the fiscal year ended December 31, 2008
and for the fiscal year ended December 31, 2007.

All Other Fees

There were no fees billed by SJHL for other products and services for the
fiscal year ended December 31, 2008 and for the fiscal year ended December 31,
2007.

Audit Committee's Pre-Approval Process

The Board of Directors acts as the audit committee of the Company, and
accordingly, all services are approved by all the members of the Board of
Directors.

Item 15. Exhibits, Financial Statement Schedules

Index to Exhibits

Exhibit     Description
-------     -----------
*1.1        Form of Subscription Agreement

*3.1        Certificate of Incorporation, as filed with the Delaware Secretary
            of State on January 30, 2007

*3.2        By-laws

*3.6        Class A Redeemable Warrant Agreement including Form of Class A
            Redeemable Warrant Certificate

*3.7        Class B Redeemable Warrant Agreement including Form of Class B
            Redeemable Warrant Certificate

*4.1        Specimen Common Stock Certificate

*10.1       Letter Commitment of Mr. Tay Chong Weng to Lend Funds dated
            November 1, 2007

*10.4       2007 Greater Asia Realty Holdings, Ltd. Stock Option Plan

**14.1      Corporate Code of Ethics and Conduct, adopted February 18, 2008

31.1        Certification of the Company's Principal Executive Officer pursuant
            to Section 302 of the Sarbanes-Oxley Act of 2002, with respect to
            the registrant's Annual Report on Form 10-K for the year ended
            December 31, 2008

31.2        Certification of the Company's Principal Executive Officer and
            Principal Financial Officer pursuant to Section 302 of the
            Sarbanes-Oxley Act of 2002, with respect to the registrant's Annual
            Report on Form 10-K for the year ended December 31, 2008

32.1        Certification of the Company's Principal Executive Officer pursuant
            to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
            Sarbanes Oxley Act of 2002

<PAGE>

32.2        Certification of the Company's Principal Financial Officer pursuant
            to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
            Sarbanes Oxley Act of 2002

--------------------------------
*   Filed  as  an  exhibit  to  the  Company's  Registration  Statement on Form
    SB-2, as filed with the U.S. Securities and Exchange Commission on December
    3, 2007, and incorporated herein by this reference.

**  Filed as an exhibit to the Company's report on Form 8-K, as filed with the
    U.S. Securities and Exchange Commission on February 18, 2008, and
    incorporated herein by this reference.



                                  SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                        GREATER ASIA REALTY HOLDINGS, LTD.


                                        By: /s/ Tay Chong Weng
                                            ----------------------------------
                                            Tay Chong Weng
                                            President and Director
                                            Principal Executive Officer
                                            Principal Financial Officer

Dated: May 19, 2009


In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.


NAME                           OFFICE                      DATE
----                           ------                      ----

/s/ Tay Chong Weng             President, Secretary,       May 19, 2009
----------------------         Treasurer, Chief
Tay Chong Weng                 Accounting Officer,
                               and Director