Zhenru Town center gets under way
The Hong Kong-based Cheung Kong (Holdings) Ltd, Hutchison Whampoa Ltd and Herun Group are developing the project, which is expected to be completed in 2018.
At that time, Zhenru will become Shanghai's seventh central business center following those in Lujiazui, Huaihai Road M., Xujiahui, People's Square, Hongqiao and Nanjing Road W.
The cost of the project has not been announced.
The section that started yesterday is a key part of the southern section, according to Victor Li Tzar-kuoi, Cheung Kong's managing director and deputy chairman.
The northern section will focus on transport.
Covering a total of 20 hectares, the project will build offices, hotels, parking lots and green spaces over 1.14 million square meters, Li said.
A 300-meter-high office building to be erected in the area will become a new landmark for Puxi.
A walkway will link all the stores along Caoyang Road.
Historic buildings like the Zhenru Tower will be preserved, but the seafood wet market on Tongchuan Road will be moved and replaced by entertainment and cultural venues.
Railway stations will be built in the town for the intercity rail routes that will link Shanghai and the neighboring Yangtze River Delta area. The rail journey between Shanghai and Nanjing, capital of Jiangsu Province, will be cut to one and a half hours, compared to the current two hours.
The town will be connected to the downtown area with Metro lines 11, 14, 15 and 16.
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