Redevco has entered into a strategic partnership with Chinese firm Shui On Land for the development of the shopping centre section in the Wuhan Tiandi Commercial Cluster in the Chinese city of Wuhan.
Redevco has entered into a strategic partnership with Chinese firm Shui On Land for the development of the shopping centre section in the Wuhan Tiandi Commercial Cluster in the Chinese city of Wuhan.
The cluster is a part of the Wuhan Tiandi project, which has a total gross floor area of 500,000 m2. The scheme will comprise grade-A offices, a 5-star hotel and high-end department stores, Shui On Land said.
The shopping centre that Shui On and Redevco are collaborating on will occupy 100,000 m2 of gross floor area. The estimated total investment will exceed RMB 2 bn (EUR 209 mln).
Shui On Land will be responsible for the master-plan as well as the construction management of the project, while Redevco will take up design and concept development, asset management, marketing and promotion. Construction of the joint project is scheduled to commence in the fourth quarter of 2010 and to be completed in 2012..
