Construction to resume on Shanghai's Xintiandi hotel towers

01/11/2010 | Wall Street Journal, The

Just as the global financial crisis started to hit hard in the middle of 2008, construction was halted on the twin 30-story towers of new a hotel intended to serve as the gateway to Xintiandi, Shanghai's faux-historic district. Now developer Vincent Lo has stepped in as a white knight, and work is expected to start again. Lo originally had a 15% stake in the project, but he has agreed to buy out the other investor, Leo KoGuan, and assume full control of the project.

View Full Article in:

Wall Street Journal, The

Published in Brief: