Luna Lu/Shanghai Daily News

After purchasing 49% of the shares of the Shanghai Xinhua Publishing Group, the Shanghai Greenland Group yesterday invested 15 hundred million yuan in two real estate businesses in Zhengzhou, in Henan Province.  Zhang Yuliang, president of the Greenland Group, told the Youth Daily that the Group was very interested in the realty market in the center of China and that this investment was just a begining.  Zhang also revealed that the total area of the project would exceed 540 thousand square meters.  The whole investment is the largest one in the center of China by a Shanghai realty company to date, and it is the first time for the Shanghai Greenland Group to enter the realty market in the center of China as well.

Also Yesterday, the two developments: a large traditional apartment block and two commercial high-rise buildings of the Group were started in the Central Business District (CBD) of Zhengdong new area in Zhengzhou.  Meanwhile, another item of a large-scale uptown built by Wanke, Wantong and other ten national developers was in the news as well.  Commenting on this situation, Zhang yuliang said that Zhengzhou was in the center of China.  It is the center of the transportation in China and also an important city in Asia.  With the development of the west and the entrance of China into the WTO, the Zhengdong new area would become a new city zone in Zhengzhou so that the potential of CBD is huge.  Zhang claimed that the Shanghai Greenland Group would compete fairly with other companies.