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September 5, 2013

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Home » Business » Real Estate

Qiantan set to be hive of activity after completion

Work to transform the Qiantan area into a new business and residential zone in Shanghai’s Pudong New Area is proceeding smoothly with the completion of major roads and bridges, the Lujiazui Group said yesterday.

The completed first phase of the infrastructure work on Qiantan includes 18 roads and three bridges extending a total of 12.4 kilometers, said the company, which is overseeing the construction.

Covering 2.8 square kilometers, the area nearly doubles the size of the Lujiazui Financial Zone and is expected to be home to headquarters of global and domestic multinational firms, culture and media institutes, and sports and leisure facilities. 

“It is designed to have 30,000 people living in the area and another 200,000 working there. They mainly include expats and employees of multinational firms,” said Yang Xiaoming, director of the company’s board.

Private fixed-asset investment in the area will total more than 100 billion yuan (US$16 billion). The area will be completed in three years.

“The future area will operate around the clock to work with other international financial centers like New York and London,” another official of the company said.

Qiantan, south of the former Expo site, is a 20-minute drive from downtown and has three Metro lines converging there.



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