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Pudong to have its 'People's Square'

Century Metropolis, a 6-billion-yuan (US$876.4 million) complex of shops, offices and underground parking, dubbed as Pudong's "People's Square," started construction yesterday.

 

The project is part of Pudong New Area's plan to extend the Lujiazui area to the east to develop Zhangyang Road into a commercial zone.

 

Century Metropolis boasts a good road network with three main roads leading to it and has four intersecting Metro lines.

 

The complex will be enclosed by Dongfang Road, Zhangyang Road, Fushan Road and Weifang Road. It will cover about 90,000 square meters and be divided by Shiji Avenue into two triangle-shaped sections.

 

When completed, the complex will also be connected underground to Shiji Avenue Station, a major transport hub. Presently, Metro Line 2, 4 and 6 meet at the station.

In future, Line 9 will also be extended eastbound across the Huangpu River to connect to the station.

 

Construction of the first triangle-shaped section, the Century Metropolis 2-3 Parcel, was launched yesterday and will be completed in four years.

 

Lujiazui Financial Trade Zone Development Co and Bailian Group will invest 6 billion yuan to develop this section. Lujiazui Financial will develop the office buildings and Bailian will be responsible for the development of the shops.

 

According to the plan, a retail podium, five floors and part of the sixth floor to be used for auditoriums, is located in the northern part along Zhangyang Road, the shopping street.

 

Three office towers of more than 10 floors are located in the southern part close to Fushan Road and Shiji Avenue.

 

Offices will start from the second floor and the first floor is earmarked for retail businesses.

 

The other triangle-shaped section, to be developed by Hong Kong's Hutchison Whampoa Ltd, will contain a 39-storey office building, a 23-floor hotel and will also have space for retail, restaurant, entertainment and cultural activities.

 

Pudong's gross domestic product rose 11.9 percent on year in the first half of this year, and it expected the growth rate to reach 11 percent for this year.

 

(Shanghai Daily December 17, 2008)