Tishman Speyer forms Chinese development JV
Tishman Speyer has announced its joint venture with technology company Lenovo for the development of a 2.2 million-square-foot mixed-use project in the Houhai central business district of Shenzhen, China.
It is Tishman’s first investment in Shenzhen, which is located in Guangdongprovince. Shenzhen is situated immediately north ofthe Hong Kong Special Administrative Region. It was China’s first, and has been one of its most successful, Special Economic Zones.
The development plans call for the creation of 1.4 million square feet of office space, 780,383 square feet of retail space and 64,583 square feet of culture space. The site is directly connected to an existing subway line, along with a line under construction that will serve the Shenzhen Bao’an International Airport.
The retail center will serve approximately 1 million people within a 5-kilometer radius. It also will be convenient to the nearby Nanshan, Futian and Bao’an p