SHENZHEN will invest 10 billion yuan (US$1.57 billion) to turn an empty land in northern Xiangmihu in Futian District into a comprehensive international conference and exchange platform.
The Shenzhen International Exchange Center project will include a hotel and a conference center in its first phase and a garden conference area in its second phase.
Shenzhen Xiangmi Lake International Exchange Center, a wholly funded subsidiary of Shenzhen Investment Share Holdings Co. Ltd., won the right at an auction Friday to develop a land parcel that was sold for 1.33 billion yuan, Shenzhen Special Zone Daily said Saturday.
The land lot is for a hotel with 153,000-square-meter floor space featuring 1,000 rooms and at least 500 sparking spots. It will be developed along with a nearby land parcel for a conference center the company purchased for 452 million yuan during an auction in December 2021. The conference project will have 60 conference rooms and various sizes of dining halls to accommodate 15,000 people, including a roundtable conference room, a 5,200-square-meter conference room and a 4,000-square-meter banquet hall.
Upon completion in four years, the Shenzhen International Exchange Center, with a total floor space of 470,000 square meters, will be a new high-end facility to host international summits, international exchange activities, and grand business conferences and gatherings.
The 4.9-square-kilometer Xiangmihu area is divided into three sections — southern, central and northern sections, separated by Hongli Road and Shennan Boulevard. Shenzhen is turning Xiangmihu into an ecologically sustainable area featuring international quality and local characteristics that integrates an international exchange convention center, and high-end finance, culture and creativity, business vitality and neighborhood facilities.
Article From: SHENZHEN DAILY