[photopress:Longhuata_1.jpg,full,alignright]In Georgia, Atlanta Portman Holdings announced the formation of a joint-venture to develop Jian Ye Li, a 458,000 square-foot mixed-use, luxury project comprised of high-end residential, serviced apartments, retail and parking in a historically protected neighborhood in the Xuhui District of Shanghai at a cost of $105 million, with an opening expected in the first quarter of 2009. In addition, the company is in the early phases of a number of other projects in China.
Portman Holdings has developed some of the world’s best known real estate assets, including Embarcadero Center in San Francisco, Marina Square in Singapore, the New York Marriott Marquis in Times Square, the Westin Bonaventure in Los Angeles, Peachtree Center in Atlanta, Shanghai Centre in China which is on Nanjing Xi Lu, the Brussels Trade Mart in Belgium, and the Westin Charlotte in North Carolina.
Portman Holdings is the development division of the Portman companies, a real estate owner, developer and architectural firm, founded in 1953.
Thomas Arasi, president of Portman Holdings, said, ‘We have a long track record in China, having developed the renowned Shanghai Centre mixed-use property, which consists of luxury apartments, office, retail, and the Portman Ritz-Carlton hotel. Furthermore, John Portman and Associates has designed some of the country’s most exceptional luxury hotels, including the Portman Ritz-Carlton, The Westin Shanghai at Bund Centre and J.W. Marriott at Tomorrow Square in Shanghai, as well as the Park Hyatt at Beijing Yintai Centre and other projects in Jinan and Hangzhou.’
Source: Hotel Interactive
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