SHANGHAI, China: Japan's Rockefeller Group says it will direct the development of a choice property project near Shanghai's famous Bund waterfront neighborhood, part of a rush by foreign real estate companies into the commercial market despite efforts to cool prices.
The deal, announced Wednesday, involves construction of commercial and cultural buildings, serviced apartments and public spaces in an area now occupied by older housing near the city's Bund and Suzhou Creeks.
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