FIRST Pacific Davies has formed a joint venture with developer China Shanghai Foreign Trade Centre to manage the Jin Mao building in Shanghai. The US$440 million building in Pudong's Lujiazui Finance and Trade Development Zone will tower 88 storeys high, topped by a 38-metre spire. 'The Jin Mao building will act as a fitting symbol for continued economic liberalisation of China and the corresponding development of Shanghai,' said First Pacific Davies chairman David Davies. The 420-metre building will provide over 2.9 million square feet of floor space and the top 38 floors will house the Grand Hyatt Hotel. The remaining floor area will be used for offices. An international consortium, including Chevalier Development of Hong Kong, France's Camprenon Bernard SGE, Japan's Obayashi Corp and the Shanghai Construction Group, will construct the building.