Mitsubishi Estate, CapitaLand complete China office building project

© Kyodo News

Japan's Mitsubishi Estate Co. has completed a major office building project in Hangzhou, China, undertaken jointly with Singapore-based CapitaLand, one of Asia's largest real estate groups.

The Alpha Park project, which costs more than 23 billion yen ($202 million), is the major Japanese developer's third office building project in China, according to Mitsubishi Estate's announcement Thursday.

It comprises four high-rise office buildings, already in operation, including a 23-story tower, with a combined floor space of more than 230,000 square meters, and some 17,000 people are expected to work inside them.

Lower portions of the buildings have restaurants, retail shops and other commercial establishments as well as an exhibition space for corporate use and large halls.

The developers plan to link the "Bridge+" coworking space program operated mainly in China by CapitaLand and the "EGG JAPAN" incubation scheme undertaken in Tokyo by Mitsubishi Estate by opening facilities combining both programs in lower parts of the buildings, starting as soon as next spring.

Alpha Park is the third phase of the "Singapore-Hangzhou Science & Technology Park" project underway in the capital of Zhejiang Province. (NNA/Kyodo)