What developers are describing as a ‘Second Lujiazui Financial Zone’ will be taking over the former World Expo 2010 site in the New Pudong Area, according to the Shanghai Daily.
Already, half of the development is complete, and 10 state-owned enterprises have set up in bases in the former Zone B area, Ding Hao, president of the Expo Development Group, told the Daily.
Enterprises will soon be invited to set up bases in Zone C, the former European pavilion zone and the Houtan area — reserved city government land that has remained untouched since the end of the Expo, he said.
“The area will drive the city’s fast development for another 20 years, in the same way as the Lujiazui financial zone has done,” Ding predicted.
This was the first time that senior Expo officials have announced plans for the zone that featured the France, Spain, United Kingdom and other popular national pavilions at the Expo.
Buildings will all have size restrictions as so riverside scenery isn’t obstructed and some foreign pavilions, include France and Russia, will stay.
The Daily reports that around 28 new buildings will be added, including bases for Beijing-based Sinochem Group, China Changjiang National Shipping Group, and the Commercial Aircraft Corp of China, construction of which is already underway.
The buildings and headquarters will also be connected to a 770,000-square-meter underground complex with an attached pedestrian passageway, ‘cutting-edge’ parking area, shopping malls and entertainment venues.
Developers would like to point out that the buildings will all be made using environmentally friendly materials, and also they’re throwing in a large square of trees covering 210,000 square meters and calling it Green Valley (the first living organisms to inhabit the area in recent years).