Koll, 3 Others to Build $350-Million Retail Center in Shanghai

Contracts have been finalized by Koll Real Estate Group of Newport Beach and three other California firms to build a $350-million retail and entertainment center in Shanghai. Chinese and American business leaders met Thursday in San Francisco to sign off on the deal that would create Kinghill Plaza, an 88-acre, nine-level complex of shops, hotels, cinemas, a performing arts theater and office buildings.

The 2.2-million-square-foot plaza will sit along the banks of the Huangpu River, near both the historic Bund and the landmark Shanghai TV Tower. Groundbreaking is scheduled for September. The U.S. project team is headed by Koll China Real Estate Co., which will coordinate the project’s pre-construction and development management, sales and leasing, along with marketing and property management.

Koll Asia Pacific is scheduled to provide property and operations management, and will assist in the marketing and sales effort in Asia. Koll China Real Estate is also developing a 300-acre industrial park in the Tianjin Economic Development area east of Beijing.