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Old January 4th, 2010, 05:10 PM   #1301
hkskyline
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Twin hotel towers work to restart
1 January 2010
Shanghai Daily

CONSTRUCTION of two uncompleted hotel towers in Shanghai's Xintiandi will finally resume next week after being suspended for nearly a year and the two hotels will hopefully be able to welcome guests during the Shanghai Expo, a senior government official said.

Work will be able to resume after Hong Kong's Shui On Group, which originally held a 15 percent stake in the development, agreed to acquire the remaining 85 percent from Leo Investment, an industry source confirmed yesterday, without elaborating.

The acquisition for an undisclosed price will enable the Hong Kong developer to become the sole owner of the project, whose suspension has made it an eyesore for the local government due to its prime location.

Construction is scheduled to be completed before the opening of the Shanghai World Expo, Xu Jinguo, deputy director of Luwan District, told local media during an interview on Wednesday.

Rumors that Leo Investment was running out of money caused work on the almost-completed twin towers, which will be operated under the luxury Jumeriah and Conrad brands, to stop early last year.

Both hotel companies told Shanghai Daily yesterday that they could not provide any updated information regarding their management contracts with the project owner.

In December, HNA Group, the parent of Hainan Airlines, said it had initially agreed with Leo Investment to acquire the 85 percent stake for more than 2 billion yuan (US$293 million).
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Old January 5th, 2010, 12:48 PM   #1302
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Great news! It would be a shame that such great architecture can go to waste.
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Old January 6th, 2010, 12:22 AM   #1303
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here is some information about that building.
it's almost done.
image hosted on flickr
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Old January 8th, 2010, 01:48 PM   #1304
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Idle plots further compound realty crunch in Shanghai
8 January 2010
Copyright 2010 China Daily Information Company. All Rights Reserved.

Listed property developers have been cornering huge plots and often leaving them undeveloped, further compounding the land shortage in Shanghai, said a new report.

Over 330 plots earmarked for residential development are lying idle due to various reasons, said the report released by E-House (China) Holdings Ltd, a leading property service provider.

Prominent among the names in the list are biggies like Cheung Kong (Holdings) Ltd, Hutchison Whampoa Ltd, Shui On Land Ltd, Vanke and Shanghai Industrial Development Co Ltd.

What has been surprising is that realtors often ignore the regulations, even though it is mandatory to develop such plots within two years of getting approval. The rules stipulate that if the owners fail to comply with the regulations, the plot should be reclaimed and fines imposed, said Xue Jianxiong, a senior analyst with E-House.

Vanke did not develop its Binjiang plot in Pudong district as the local government has changed the planning for the area. The company postponed development of another plot in Qibao Town in Minhang district citing relocation problems, said an analyst on condition of anonymity.

In addition, there are many other loopholes in the existing regulations that developers take advantage of, the analyst said.

"There is no strict definition of what is developed or idle land," he said, adding some developers just dig holes in the land to show that it is under development.

One of the main reasons behind the idle land is the soaring value. Cheung Kong purchased a piece of land in Maqiao of Minhang district for 2,667 yuan ($390.62) per sq m in terms of gross floor area in 2006. The developer is expected to start the pre-sales of high-end villas after the Lunar New Year, and intends to charge between 60,000 yuan and 120,000 yuan per sq m.

"As the land shortage continues and may even worsen, developers will take more time to launch projects," said the analyst.

According to Xue, land is the prime asset for listed companies, and abundant land reserves would bolster their share performance.

Soaring property prices and explosive transaction volumes saw many major developers increasing their land reserves last year.

The latest record was set by a site in Yangpu district, which was sold to China State Construction Property Co Ltd for 3.72 billion yuan at a floor price of 32,484 yuan per sq m.

According to the E-House report, the 330 idle plots alone can generate nearly 43.57 million sq m of gross floor area, twice the volume of the housing supply in the city during 2008.

The key reason behind the idle land is the mild punishment, according to Albert Lau, managing director with Savills Shanghai.

"Such cases exist in Singapore and Hong Kong, but they have effective regulations to counter such behavior. Developers have to pay the full price of the land within two months, and all the related procedures should be completed and the plot developed within two years," Lau said.

In an effort to dissuade developers, the housing regulator has increased the cost of keeping land idle. The new regulations stipulate that the initial down payment for land purchase should not be lower than 50 percent of the total cost, and the entire amount has to be paid within a year.

"Such policies would help prevent land hoarding to some extent," said Hingyin Lee, director of research and advisory at Colliers International.
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Old January 9th, 2010, 05:46 PM   #1305
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News?
http://news.cens.com/cens/html/en/ne...ner_30402.html
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Old January 10th, 2010, 01:17 AM   #1306
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It is news to me.
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Old January 11th, 2010, 01:23 PM   #1307
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Shanghai hotels back on track
8 January 2010
The Wall Street Journal Europe

SHANGHAI -- More than a year after a twin tower hotel project here got snagged on a web of problems more complex than its iconic, honeycombed exterior, construction is finally about to restart.

The 30-floor project was designed as the gateway to Xintiandi, a faux-historic section of central Shanghai that boasts some of China's priciest real estate. But since construction mysteriously stopped in mid-2008, the off-white towers have looked more like question marks about Shanghai's ability to sustain the development that has marked its recent years.

Now, a white knight has stepped up to revive the project: Xintiandi's developer, Vincent Lo. The Hong Kong billionaire originally owned 15% of the towers and has now agreed to take full control of the project through his private business group, according to his spokeswoman.

Mr. Lo is buying out the 85% owned by Leo KoGuan, an Indonesian-American software mogul who conceived the glitzy plaza. Terms weren't made public.

What prompted the construction halt has never been clear. But it involved a dispute between Mr. Lo and Mr. Leo, two wealthy and colorful characters. Neither has spoken about it.

The work stoppage coincided almost exactly with the global financial meltdown and sparked talk in Shanghai real-estate circles that Mr. Leo was rethinking his financial commitment. Well known until then for cruising through town in his Bentley, Mr. Leo appeared to drop out of sight.

In fact, money was never Mr. Leo's problem, according to people close to him. They cited as evidence his big stake in one of the U.S.'s largest and most successful private businesses, SHI International Corp., a major software distributor he founded. Instead, these people said, Mr. Leo merely wanted a fair deal in Shanghai.

A person who spoke recently with Mr. Leo about his decision to leave the project repeated that view this week. Mr. Leo didn't respond to requests for comment.

A publicly available U.S. tax filing by Mr. Leo's charitable foundation suggests he still had deep pockets in 2008. The Leo KoGuan Foundation, already one of the largest single contributors to Chinese universities, boosted its giving, the filing shows.

For Shanghai, completion of the project would erase skyline blight.

The two buildings appear to lurk over the entrance of the Xintiandi neighborhood. Over the past year, people familiar with the matter say, Shanghai's government pressed the parties to reconcile or find a third-party buyer; officials were apparently concerned that visitors might get a bad impression during an upcoming World Expo.

This week's statement said Mr. Lo's privately owned Shui On Group will restart work immediately and complete it before the Expo opens in May.

All along, two hotel-management companies have remained publicly committed to operating properties on the site, including one to be managed by Dubai's Jumeirah LLC. A company Web site shows it will feature a wedding-cake-shaped glass enclosure for parties. Another hotel, under the Hilton Hotels Corp. brand Conrad, promises a design that pays homage to China's Han Dynasty.
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Old January 13th, 2010, 02:36 PM   #1308
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Good renders of Henderson Land project in NJXL


Shanghai Nanjing Xi Lu Project

Shanghai, China 2005-

Site area: 10,047.00㎡

Building area: 3,858.00㎡

Total floor area: 60,371.00㎡

Number of stories: 24

Height: 105.00m

From http://www.tangeweb.com



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Old January 15th, 2010, 01:52 PM   #1309
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Seems like they're planning another 200m~ cluster in Xuhui. This is opposite the Expo area, and next to Lupu Bridge. There is (or it used to be) a tiny railway terminal on the huge plot.
http://www.sba-consulting.eu/2890-Xu...-Shanghai.html
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Old January 16th, 2010, 01:58 AM   #1310
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Nice find z0rg, man you know all these random sites where you find reference to Chinese projects XD
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Old January 16th, 2010, 03:48 PM   #1311
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Magic architecture. !!
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Old January 18th, 2010, 05:17 AM   #1312
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Quote:
Originally Posted by napalm_napalm View Post
here is some information about that building.
it's almost done.
No, I'm refering to another building. This building is not viewable from that point, it's behind the China Fortune tower.

But it seems it's not going to become any higher. It has about 17 floors right know.
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Old January 19th, 2010, 10:58 AM   #1313
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Home transactions plunge in Shanghai
19 January 2010
Shanghai Daily

HOME sales plunged more than 50 percent in Shanghai in the first half of this month amid growing wait-and-see sentiment among buyers.

Sales of new homes, excluding those designated for relocated residents under urban redevelopment projects, totaled 334,200 square meters between January 1 and 15, compared with 689,300 square meters in the first 15 days of December, according to statistics released yesterday by Shanghai Uwin Real Estate Information Services Co.

"Buyers turned cautious after a series of measures were introduced recently to curb speculation and cool down the overheated market," said Lu Qilin, a researcher at Uwin. "Transactions will continue to remain at low levels, and a notable rebound will not occur until after the Spring Festival."

The price of new homes averaged 19,993 yuan (US$2,927) per square meter in the first half of January, compared with 21,112 yuan per square meter during the same period a month earlier.

New home transactions have now dropped four straight weeks since December 21, Uwin data showed.

A similar contraction occurred in existing home transactions.

Existing home sales dropped about 50 percent in the first half of January at Century 21 China Real Estate, operator of the city's second-largest property agency chain.

"We expect slack buyer momentum to last at least through the end of next month as a series of cooling measures introduced by the government has started taking effect," said Huang Hetao, a researcher at Century 21. "Hopefully, more home owners will lower their asking prices to help conclude deals."

At Century 21 outlets, about 20 percent of home owners are now negotiating price cuts while 50 percent still seek their original list price.

Last month, the State Council said that people who sell homes less than five years after purchase must once again pay a 5.55 percent tax starting January 1. The previous lock-up period was two years.
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Old January 19th, 2010, 12:40 PM   #1314
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Has the construction on the Xujiahui Center begun? The information we had last year is, that construction should start by the end of 2009, am just curious if they really started! Furthermore i am interested to not just know what skyscrapers they are building, what cultural stuff like thaters, museums, opera houses, parks etc are they planing and or constructing and how does the Bund beautification development progress?
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Old January 20th, 2010, 01:13 PM   #1315
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New 180m project in Beiwaitan. It's supposed to be u/c. 长江国际金融中心/ Changjiang IFC. As tall as Aurora Tower!
40 floors, 75,000 sqm, completion expected for December 2010. Design by Gensler. Isn't it impossible? Unless it's been growing for a while already...

http://office.sh.soufun.com/2009-02-18/2402483.htm
http://p.tgnet.cn/SHCJGJ/

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Old January 22nd, 2010, 01:06 PM   #1316
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Pingan Building in Lujiazui - seen from the Bank of China Tower:




The footbridge circle in front of the pearl tower is nearly finished:



Is there a separate thread for the Pingan? Couldn't find anything.
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Old January 22nd, 2010, 10:13 PM   #1317
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Dont worry about the Pingan thread. It doesnt deserve one. I can not tell from that pic, is the skywalk extending an exit right into the superbrand mall?
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Old January 23rd, 2010, 04:45 AM   #1318
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There is no direct link to the Superbrandmall, the stairs end right in front of the main entrance.

I think the Pingan is not so bad, fits quite well with other "strange" constructions in Lujiazui like the Pearl Tower and is a nice contrast to boring buildungs like the Azia Center next to it :-).
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Old January 27th, 2010, 12:30 AM   #1319
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Pics by cohen
Himalayan Center






Pudong Kerry Center


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Old January 27th, 2010, 04:24 AM   #1320
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Quote:
Originally Posted by waiguoren View Post
Pingan Building in Lujiazui - seen from the Bank of China Tower:

http://data6.blog.de/media/118/4304118_bbb7bbd135_l.jpg
I like the Ping'an tower in the skyline simply because it's something different. It's not yet another smooth shining glass, which LJZ has plenty of already. Besides, the architecture brings a bit of Waitan flavour to this side of the river.
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