Apart from Shanghai Global Financial Center to be built as Shanghai's "world's first top skyscraper", a dozen or so landmark projects will be launched at Lujiazui operating as the only financial trade center at a state level in Shanghai.

As planned by Shanghai Municipality, these are going to cost a total of over 22 billion yuan.

Among the dozen or so large construction projects are undertakings of Singapore Government Industrial Investment Company, Tangchen Haijing condominium and Shanghai Bank Headquarters Mansion, China-Cuba Aparthotel and others, according to Vice Mayor Zhou Yupeng..

Lujiazui lies over an area of 28 square kilometers. Since the 1990s construction has turned it into a large financial trade center with about one fourth of foreign-run banks launched on the Chinese mainland and an asset up to 40 percent of those foreign. Chinese- and foreign-run service institutions in Pudong number over 4000 up to 80 percent of those in China and over 96 percent of revenue reaped.

The floorspace will come to a total of 854,000 square meters with a cost of 13.5 billion yuan., according to contracts lately signed. Tourism facilities and an exhibition convention center including Shanghai Dolphinarium at a cost of 200 million yuan, two financial projects including China Joint Banking Global Financial Center will be built. The other five are high-class residential projects, including Gangzhen Haijing condominium to be built at a high advanced level in Shanghai.

Concerned authorities lately told newsmen at a press conference that new contracts will be signed with world famous estate companies for concentrated construction of projects at Lujiazui. Among these are included five large construction projects with a floorspace totaling 415,000 square meters at a cost of 9 billion yuan.

In detailing the planned "construction wave", municipal leaders told that Lujiazui will by itself be a construction center on account of many a varied factors as market element, a high concentration of consortiums and a wide range of facilities for tourism, leisure and others backing up a life of modernity.