Shanghai Lujiazui Development Group is planning to invest about US$500 million on a hotel project in cooperation with other real estate developers and hotel management companies.

SLDG has signed a cooperation agreement with several overseas real estate company and hotel management companies, including Kerry Properties (Hong Kong) and Shangri-la (Asia) to build a hotel conference centre attached to Shanghai New International Exposition Centre.

The project will be invested by Kerry Properties (Hong Kong), Shangri-la (Asia), and SLDG. SLDG will invest US$32.6 million, accounting for 20% of the total US$ 489 million.