Shui On un­veils The Hub

Shanghai Daily - - BUSINESS - Cherry Cao

SHUI On Land Ltd, the Hong Kong de­vel­oper most renowned for its Xin­tiandi res­tau­rant and bar district in the heart of down­town Shang­hai, yes­ter­day un­veiled a busi­ness and life­style project near Shang­hai’s Hongqiao trans­port hub.

The project is called The Hub and is within walk­ing dis­tance of the city’s smaller air­port and high-speed rail sta­tion. It will cover a site area of 62,000 square me­ters with to­tal build­able space of 380,000 square me­ters in­clud­ing un­der­ground fa­cil­i­ties, ac­cord­ing to the de­vel­oper.

The de­vel­oper paid 3.2 bil­lion yuan (US$ 495 mil­lion) for the site.

Sched­uled to be com­pleted as early as 2013, The Hub will con­sist of of­fices, shops and restau­rants, a lux­ury ho­tel and some con­fer­ence, event and per­for­mance fa­cil­i­ties.

“We’re very op­ti­mistic and con­fi­dent about The Hub as Hongqiao is po­si­tioned to emerge as an­other cen­tral busi­ness district for both Shang­hai and the en­tire Yangtze River Delta re­gion,” said Vin­cent Lo, chair­man of Shui On Land.

The Hongqiao trans­port hub is one of the world’s largest of its kind, where daily foot traf­fic may reach 1.1 mil­lion to 1.4 mil­lion on av­er­age by 2015. About 75 mil­lion peo­ple live within a one-hour train ride of the trans­port hub, the com­pany said.

Shui On also said ear­lier this month that Xin­tiandi will dou­ble in size over the next few years as part of the com­pany’s plan to cre­ate a more in­te­grated com­mu­nity.

By 2016, the pop­u­lar area will be ex­tended to cover a to­tal gross floor area of more than 1.2 mil­lion square me­ters, with a school, a the­ater and some other fa­cil­i­ties be­ing added.

Shui On also has “Tiandi” projects in other Chi­nese cities.

Re­porters look at a mock- up of The Hub, a busi­ness and life­style project de­vel­oped by Shui On Land Ltd, at a press con­fer­ence in Shang­hai yes­ter­day. — Dong Jun

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