Tishman Teams With Lenovo on South China Real Estate Development
The $1.35 billion project is companies’ first joint venture Lenovo’s international-business units to be based at complex
#TishmanSpeyer is teaming with #Lenovo Group Ltd., the world’s biggest personal-computer maker, on a 9 billion yuan ($1.35 billion) real estate project in Shenzhen, China, marking the developer’s first foray into the country’s southern region. The 2.2 million-square-foot (204,400-square-meter) office-and-retail development, to be built in the city’s central business district, will house the headquarters for Lenovo’s international-business units, New York-based Tishman said in a statement Wednesday. The project is scheduled to be completed in the third quarter of 2020. “We’ve had the ambition to enter into South China since our entry into the country 10 years ago,” Tishman Chief Executive Officer Rob Speyer said in an interview. “Shenzhen was the first open market in China and has one of the most mature real estate markets and some of the best infrastructure” in the country.
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