Brooke Hillier Parker has unveiled plans for a £226m development in Shenzhen, which is a second-tier Chinese city close to Hong Kong.
The scheme will be developed by a consortia including Bovis and Bouygues – Europe’s largest construction conglomerate and funded by an HSBC Real Estate Investment Fund.
The consortia claims the scheme will comprise 65,000 sq m (700,000 sq ft) of retail, 57,000 sq m (613,562 sq ft) of office space plus a 420-room hotel, 152 rented and serviced apartments and a 10,000 sq m (107,642 sq ft) club facility.
Completion is scheduled for 2001 and it is hoped that development will benefit from a high-speed rail link between Shenzhen’s Huangtian airport in the west and the Luohu/Hong Kong border in the east.
China is currently one of the highest yielding nations on the planet and Brooke Hiller Parker anticipates that Chinese growth will be centred on second-tier cities like Shenzhen rather than Shanghai and Beijing.
EGi News 09/06/98
