Zall Development (Cayman) Holding Co Ltd announced it has won a bid for a plot of land in Dingxiang Lake New Town, Yuhong District, Shenyang at a consideration of RMB827 million. The land use rights of the site, which has a total area of about 150,000 sq m, will be signed over to the group shortly.
     The group plans to develop a high-end integrated complex "Shenyang Salon" on the site. The complex will offer green housing, small office home office facilities (SOHO), hotel, shopping, arts and culture, theatre and parks under one roof. When completed, Shenyang Salon is set to be a landmark in north-eastern China, representing the best that Shenyang has to offer in arts and culture. The project will be developed in two phases. Construction of the first phase is expected to start in March next year and to be completed in December, offering a total gross floor area of about 300,000 sq m.
     Mr Yan Zhi, Chairman and CEO of Zall Development, said, "The Chinese government's plan to revitalize north-eastern China has been in place for more than seven years. The region's development in commerce and logistics has flourished and is now in an important phase.
     The planned "Shenyang Salon" is adjacent to the Shenyang City No 2 Ring Line in Yuhong District, Shenyang, close to the downtown area. It will be located next to the largest man-made lake in China, the Dingxiang Lake, which boasts an excellent ecological environment. The area is regarded as one of the "golden sites" in Shenyang with huge development potential. The local government is actively developing the Dingxiang Lake New Town into an eco-urban area, providing strong support on its commercial development and supporting infrastructure.