Robert De Niro is among the investors in a new property complex in a historic area of China’s commercial hub Shanghai. Beyond US consortium, famous actor plans to transform four vacant buildings into an 850,000-square-foot (76,500-square-metre) complex. Project 179, on Shanghai’s waterfront, set to open in 2016 will include an arts centre, a boutique hotel, a cinema and global retailers.
The project will restore four vacant buildings and build a fifth, and is named after the municipally-designated blocks of land it is built on. The design will reflect 1920s Shanghai.
“By ensuring a design that reflects the vibrant history of Shanghai, Project 179 can serve as a jewel in its crown: ushering in a bright future while paying homage to its rich and storied past,” De Niro said.
He visited Shanghai to sign a deal with the property’s owner, the Shanghai Bund Investment group, as part of a US-Chinese business partnership.