Zhengzhou Erqi District Government has signed a memorandum of understanding with Kerry Properties Limited.

Under the MOU, Kerry Properties will invest a total of US$400 million in Zhengzhou, including bringing the famous Shangri-La Hotel to the city. Located in Minzhu Road area of Zhengzhou, the project will occupy about 15 acres.

Apart from the five-star chain hotel Shangri-la Hotel, the area will also consist of high-grade office buildings and commercial facilities and will make Minzhu Road area a multi-functional area that combines high class accommodation, food, leisure entertainment and offices.

Local media reports that the two sides will sign a formal contract on the project within a month.