Shanghai grows from paddy fields to steel towers; glittering Grand Hyatt Hotel rises in a city hit by a slumping real-estate market

Article Abstract:

Recession has resulted in a massive slump in Shanghai, China's real estate industry. Office occupancy rates have declined and vacancies are registered at 60%. To cope with the dwindling occupancy rates, rents have fallen and are expected to drop even more in 1999. One of the victims of the recession is Grand Hyatt Shanghai, the tallest building in China and the third tallest in the world. The hotel is expected to be only half-filled from 1999 to 2000 which accounts for the opening of only some rooms in its debut on Mar 19, 1999.

Real Estate, Real Estate and Rental and Leasing, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Real estate industry, Hotels and motels, Recessions

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Shanghai out of the running

Article Abstract:

Walt Disney Co's decision to build its next theme park in Hong Kong has put an end to the aspirations of Shanghai's urbanized area to be the site of the Disney park. The city had lobbied hard for the Disney park and, had it gained approval, would have elevated Shanghai city to international status. The news that Disney had finalized its deal with Hong Kong have been brushed aside by government officials saying that the talks are moving to an advanced stage but many details will still have to be worked out.

Hong Kong, Location, Parks

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Talks revived on Disney Park

Article Abstract:

Walt Disney Co's talks with Chinese officials suggest that the company's plan to set up a theme park in China is likely to push through. The Chinese government has indicated that it wants Disney to invest in the country to boost its ailing economy. The Disney investment will most probably be a theme park, which the company plans to set up in Shanghai. However, the Chinese government is strongly urging the company to put the park in Pudong.

Management, Planning, Economic policy

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