A rendering of the MAX Technology Park project in Shanghai's Hongqiao. [Photo/WeChat account: hongqiaoshangwuqu]
The MAX Technology Park in the Hongqiao Xinhui Headquarters Bay is on track for completion by late September and will be operational in mid-to-late November, according to official news.
The project, with an investment of about 270 million yuan ($36.86 million), spans 33,600 square meters and has two research and development (R&D) office headquarters, according to Deng Yiqiang, the project's general manager.
A space of 4,000 sq m has been designated to serve as the East China headquarters for Beijing Gold Concord Group and the national headquarters for Beijing Tongruian Group. This space will function as the business settlement hub for both conglomerates' operations, and the project is expected to generate 1 billion yuan ($136.5 million) in annual revenue and contribute nearly 100 million yuan in tax revenue per year.
The MAX Technology Park has extensive ancillary facilities, including an aerial sports park, sunken commercial plaza, recreation center and executive business clubs, accounting for 35 percent of the total area. Major brands like Starbucks and McDonald's have already signed on as tenants.
Deng said that the development aims to establish a national high-tech corporate headquarters cluster, collaborating with neighboring companies in the Hongqiao Xinhui Headquarters Bay. This synergy will cement North Hongqiao as the innovation hub of Hongqiao's International Central Business District.