Swire Properties confirms the development of a substantial retail-led mixed-use project in Chaoyang District in Beijing in partnership with Sino-Ocean Land Holdings Ltd (SOL).
     Located close to East Fourth Ring Road in Chaoyang District near Jiang Tai, the project will have a GFA of over 1,890,000 sq ft (175,000 sq m) on a site of approximately 630,000 sq ft (58,000 sq m). In addition to enjoying easy accessibility to the CBD area via Fourth Ring Road, the project is within a 15-minute drive on the Airport Expressway to Beijing Capital International Airport.
     Designed to meet the requirements of local and international residents and business organisations in this well-regarded district popular with multinational corporations, the project will be an integrated development with a retail centre of approximately 921,000 sq ft (86,000 sq m), over 600,000 sq ft (56,000 sq m) of Grade-A office space and a five-star hotel with over 380 rooms. The total project investment is around RMB$4 billion.

     Developed as a 50:50 joint venture between the two companies, the project is scheduled to be completed in 2010. Benoy is the architect of this project. Upon completion, the project will be managed by Swire Properties.