Hong Kong's big property developers are in talks with Shanghai authorities for permission to build more subway station exits for their prime Nanjing Road developments, increasing accessibility to the new buildings. Roy Ho, deputy general manager of Hang Lung (Shanghai) Properties, said the company and Hutchison Whampoa had put forward their proposals to the district government. The proposed exits could connect the subway station to the separate developments the two companies are building. It is believed Swire Properties, which is building an office-retail development with Citic (Hong Kong) nearby, is pursuing a similar idea. The companies are among some of the big-name property developers from the territory that have carved out land lots for buildings aimed at transforming the western section - Nanjing Xi Road - into another commercial centre. The city's Metro Line Two, which will run under Nanjing Road, is now being built. The station closest to Hang Lung's, Hutchison's and Swire's developments is the Shimen Yi Road Station. Analysts said more developers were likely to seek approval or co-operation agreements to link their buildings to subway stations for improved accessibility. Should approval be granted, Mr Ho said additional development costs for the exits would be borne by the developers. No cost estimates were available. He did not expect costs would go beyond the US$500 million budget they had set for Hang Lung's 3.2 million square-foot Plaza 66. The project is next door to the Shanghai Centre, which commands the highest rents in the city. The office and retail development is scheduled to be completed at the end of 1998. Chen Youhua, chief engineer of the Shanghai Urban Planning and Design Institute, said the builders' intention to link the developments would create more complications for the metro project due to the many cables and pipes underground. Nanjing Xi Road is divided into three sections. The first section, from Xichang Road to Shimen Road, is the retail and cultural area; the second, from Shimen Road to Tongren Road, is the convention and exhibition area; and the third, from Tongren Road to Jingan Temple, is the commercial centre. At least 10 projects with Hong Kong interests are spread over the three sections. Apart from Hang Lung's development, the second section includes developments by Citic and Swire, and Hutchison. Citic and Swire are jointly building Jingan City Plaza. The project, to be completed in 1998 and retained for investment, will have 870,000 sq ft of office space and 380,000 sq ft of retail space. Hutchison is developing the Westgate Mall, to be completed next year
