The project, with investment by Shanghai World Expo Development Group, marks the beginning of large-scale redevelopment at the former World Expo site, Yang Xiong, vice mayor of Shanghai, said at the foundation-laying ceremony in Pudong New Area.
Covering a site area of 47,900 square meters and with a total built-in space of more than 270,000 square meters, the development, scheduled to be completed by 2015, will mainly consist of four hotels.
Hyatt and Conrad will each have one hotel. The other two -- one in the shape of a "bowl" and the other like the letter "S" - will be boutique properties, according to Pang Jie, a spokeswoman for the company.
Nearly 30,000 square meters of retail and food and beverage space will be included in the development, which has been designed by John Portman & Associates, Inc, a renowned architectural and engineering firm.
The project is between the Expo Center and the former Expo Themed Pavilions.
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