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Kerry Launches Pudong Project
13.11.2007
KERRY Properties Limited, one of Hong Kong's largest property investment and development companies, further extended its footprint in the country yesterday by launching its US$500 million Kerry Center Pudong project in Shanghai.
The company, which has developed a portfolio of more than 400,000 square meters of property in the Chinese mainland, will finish the 230,000-square-meter multi-purpose complex before the 2010 World Expo, company officials said yesterday at the project's ground-breaking ceremony.
Located close to the Shanghai New International Expo Center, the development consists of a 39-floor Grade-A office tower, a 574-room five-star hotel to be managed by Shangri-La Hotels and Resorts, a 140-unit hotel-style serviced apartment building as well as a 40,000-square-meter shopping center and an entrance hall to the exhibition center.
The Kerry Center Pudong project will be 80 percent owned by Kerry Properties Limited, Shangri-La Asia Limited and Allgreen Properties Ltd, all members of the Kerry Group, with the rest held by Shanghai Lujiazui Finance & Trade Zone Development Co Ltd.
Source URL: www.cre-china.com
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