A newly-minted construction plan said 18 residential buildings and four hotels will be built up on a land plot to the east of SIP Sports Park and west of Zhongnan Street, with an estimated basic selling price of RMB 42,000/m2.

The land plot is surrounded by excellent living and commercial facilities like shopping malls, supermarkets, schools, hospitals and a neighborhood center. China Overseas Property Development Co Ltd, a member of China State Construction Engineering Corporation Ltd which is the country's largest construction and real estate conglomerate, won the bid for the project last September at a price of RMB 3.55 billion.

The overall floor area of the residential buildings is expected to reach nearly 160,000 sqm, while that of the hotels will be 50,000 sqm. The design drawings for four residential buildings were released together with the plan.