Singapore real estate company City Developments Ltd. (CDL), through its wholly owned subsidiary Chenghong (Shanghai) Investment Co., and People’s Republic of China partner Lianfa Group have secured the tender for a rare mixed-use development site in downtown Shanghai for RMB 8.94 billion ($1.25 billion).
The mixed-use development site, located in Shanghai’s Huangpu District, spans 27,994 square meters (301,325 square feet) and is considered an important urban renewal project. The site is earmarked for upscale development and will consist of 102 high-rise residential units, 92 luxury villas, a 100-room boutique hotel and more than 5,000 square meters (54,000 square feet) of retail space.
Construction is slated to begin in fourth quarter 2025, with estimated project completion by 2030. The sales launch for the residential component is expected in 2026, and the project aims to secure China’s Three Star green building rating.
Chenghong and Lianfa Group acquire
