Wharf Holdings and China Merchants Property Development bid RMB641 million for a 511,558-square foot site in Tianjin. That was the winning bid.Wharf, 50.02% owned by Wheelock, said it plans to jointly develop the site with the Chinese developer on a 50-50 basis, into residential and commercial property.
Wall Street Journal Online said the Chinese developer is 54.1% owned by state-run China Merchants Group. Our illustration shows some of the architecture already appearing in Tianjin which is making the old town look quite snazzy. You can find a lot more on Skyscraper page that are quite amazing.
