REGIONAL> Development
ABP Finance Square to be completed in 2010
(chinadaily.com.cn)
Updated: 2009-04-21 17:52

A Finance Square in the Advanced Business Park (ABP), an emerging business area in southwestern Beijing’s Fengtai district, will be completed by the end of 2010.

Xu Weiping, president of the ABP China Holdings, said the ABP will shorten its construction time from scheduled 2011 to 2010.

By the end of 2010, six 100-m-plus buildings will be erected in the ABP’s Finance Square, meeting a gap in the past that southwestern Beijing has no buildings above 100 m.

A five-star hotel will also be built there next year, becoming the first five-star hotel in southwestern Beijing.

The Finance Square is a flagship project inside the 660,000-sq-m Finance Harbor in ABP, a key area in the business zone, pinpointed as one of the city’s top business hubs along with the Central Business District (CBD), Finance Street, and Beijing Economic and Development Area.

The total construction area in the Finance Square will be 130,000 sq m with an auxiliary area of 40,000 sq m.

According to Xu, several banks from cities outside of Beijing such as Hangzhou and Ningbo have promised to purchase the buildings in the square to set up their branches in the Chinese capital.

To date, some 300 enterprises have set up headquarters or regional headquarters of in the ABP.