Shui On partners with Redevco on Wuhan venture

Shui On Land has found a Dutch partner for its proposed shopping center in Wuhan, the Hong Kong Standard reported. The Chinese firm and Holland’s Redevco will jointly invest US$292.7 million in the project, with Redevco contributing US$109.8 million for a 50% stake. The project is reported to include a US$219.5 million shopping center and a US$73.2 million basement area with a gross floor area of 120,000 square meters. Construction is set to start in the fourth quarter of 2010 and the project is expected to be completed some time in 2012.