Agreements were signed by a group of companies and institutions to invest more than RMB700 million in developing a high-tech industrial zone in Nanhui, a new development area in Pudong, Shanghai.
     The new high-tech industrial zone will cover a site area of 380,000 sq m and will be completed by the end of 2013. The new high-tech zone is strategically located near the Jinqiao Export Processing Zone, which focuses on manufacturing and exports. The new development will also be home to a new research centre for airplane technology, new materials and telecommunication equipment as well as a base for related training.
     Also in Shanghai, the Shui On Group is offering high-end residential units at Four Seasons Place in Pudong. According to news report, the units offered are sized from 143 sq m to 360 sq m and priced at approximately RMB20 million each or RMB175,000 to 180,000 per sq m. There are 73 units in the development and the first batch of some 20% was sold in August. Managed by the Four Seasons Hotel and Resorts, its private residences are located above the Four Seasons Hotel on the 42nd to 55th storeys of the tower. The property was developed by Shui On Group in partnership with HPL and PGR Real Estate. Analysis said it is one of the most expensive residential properties on sale in Shanghai.