Hang Lung Properties recently held the ground-breaking ceremony for its Tianjin Hang Lung Plaza development.
The ceremony was hosted by Ronnie C. Chan, chairman of Hang Lung Properties, and attended by Li Runlan, vice chairman of the Standing Committee of Tianjin Municipal People's Congress and Xiong Jianping, vice mayor of Tianjin.
With an investment of about CNY3.2 billion, Tianjin Hang Lung Plaza is located on Heping Road, Heping District, Tianjin. The shopping mall will cover an area of 153,000 square meters and the 50 meter-high building will have six floors above ground and three underground, including parking spaces. As a comprehensive shopping mall, Tianjin Hang Lung Plaza will provide business, entertainment, leisure, and dining services to consumers. The project, which is expected to be completed in 2011, is expected to become a landmark building of the Tianjin City.
Hang Lung Properties' strategy in mainland China is to focus on building a portfolio of high quality investment properties in prime locations of major cities. Following its success in Shanghai with the commercial, office, and serviced apartment complex of Grand Gateway and the commercial and office complex of Plaza 66, the company has acquired prime sites in Shenyang, Changsha, Wuxi and Jinan development of commercial complexes.