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September 28, 2020

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Building to begin on city’s latest landmark tower

Construction will start in early 2021 on Shanghai’s third-tallest skyscraper, on the North Bund waterfront in Hongkou District.

The 480-meter landmark structure will echo the Lujiazui skyscrapers across the Huangpu River.

The new building will become the tallest structure in Puxi, surpassing the 320-meter-high Sinar Mas Plaza tower and becoming the tallest on the North Bund and the third-tallest in the city, after the 632-meter Shanghai Tower and the 492-meter Shanghai World Financial Center in Lujiazui.

Over 10 companies from both home and abroad are negotiating with the North Bund to set up headquarters or offices in the new building, said Liu Jun, executive vice director of the North Bund Development Office.

Other key projects near completion on the North Bund include the city’s third Raffles City mall and the city’s first Broadway-style theater.

The mall to open to the public next year will cover 120,000 square meters of shopping area with three stories above the ground and two underground levels. It will gather the world’s trendy brands, entertainment and recreation sites, art space and boutique supermarkets, Liu said.

The theater, named North Bund SIIC Center, will finish its structure by the end of the year to cover a total of 240,000 square meters.

It will feature a 2,000-seat theater which will mainly stage Broadway musicals to locals, he added.

The new-look North Bund, listed as a “new engine” of growth for Shanghai, will include a central business district with high-density office buildings and commercial facilities.

The riverside region, covering about 4 square kilometers, will meet the same high standard already set at the Lingang Special Area and the Pudong New Area in the east of Shanghai.

About 8.4 million square meters of new construction space has been planned for the waterfront, equivalent to the total amount of urban space in Lujiazui and on both sides of Century Avenue in Pudong.

These include dozens of top-level office buildings to house about 100 headquarters of multinational firms, international organizations and functional institutes, according to the Hongkou government.

Thanks to the new round of development on the North Bund, Hongkou has managed to reverse the economic slowdown since March amid the novel coronavirus outbreak.


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