Shanghai Greenland Group plans to invest RMB1.5 billion for the development of four hotels in the next three years.

Of the four hotels, one with a construction area of 55,000 square meters is located in Nanjing, and the

construction will close in 2009. The 35,000-square meter-hotel will be operational in Xi'an by the end of 2007.

The 13,000-square-meter hotel under construction in Putuo District, Shanghai will start business in the second half of 2006, and another one with area of 15,000 square meters in Minhang district may be unveiled at the end of this year.

The new hotels will be under the management of InterContinental Hotels Group PLC headquartered in the U.K.

Last year Greenland Group set up a unit responsible for development of commercial properties. The areas of planned commercial properties total 2.68 million square meters including 350,000 square meters in hotels.