RYODEN Property Development Company Limited, an off-shoot of the publicly-listed electrical-engineering firm Ryoden Development Ltd, has launched its new Shanghai mixed-used development, Gateway Plaza.
Odd-numbered apartments in tower three of the developments are being marketed at an exhibition until tomorrow at the Hyatt Regency.
Units range in size from 1,259 square feet for a two-bedroom unit to 1,56aymond L.M. Hu, managing director of Ryoden Property Development.
The development is unusual to Shanghai because of its large site area and vast range of facilities.
It is one of the biggest projects in the city centre and certainly in Xuhui, Shanghai's largely residential up-market district.
The complex comprises seven towers and an adjacent shopping centre, clubhouse and car park.
Three blocks will be office/residential, three solely residential and one for offices.
Gateway Plaza can be compared in size and facilities to Taikoo Shing and Kornhill in Hong Kong.
Ryoden Property Development is one of four Hong Kong companies involved in the project under the umbrella company, China National Enterprises Ltd.
China's Shanghai Dyestuffs Corporation and Shanghai Municipality Xuhui District Property Management Company are the joint venture partners.
The first development phase, due for completion at the end of next year, consists of three office/residential blocks.
Tower three is the first of these to be marketed; the even-numbered apartments were launched in Hong Kong earlier.
Average price is $1,340 per sq ft and the minimum price is $1,088 per sq ft. Mortgages of 70 per cent of the listed price are available from the Bank of East Asia.
3 sq ft for a three-bedroom unit, which includes servants' quarters.
''We are exhibiting the odd-numbered apartments,'' said R