Shui On to invest $2.2bn in Dalian software hub

Shanghai-based developer Shui On Land will jointly invest US$2.2 billion with partners in the second phase of a software project in Dalian, Bloomberg reported. The project, Dalian Tiandi Software Hub, will include apartment blocks, shopping malls, IT training schools and R&D facilities. An initial part of the project to be opened by December 2009. Hong Kong-listed Shui On will control 40% of the development, while its sister company Shui On Construction and Materials will own 22%. Dalian-based Yida owns the remaining portion. Dalian Tiandi will be Shui On’s second IT hub project, following the development of a similar hub in Shanghai.