The 220-meter-tall tower A of the ITC in Xujiahui — the most bustling area of Shanghai's Xuhui district — has to date attracted a slew of multinationals to move their offices in the city into it.

These include Germany-headquartered Fresenius Medical Care AG and Japanese casual wear retailer Uniqlo Co Ltd.

Tower B of the complex — set to be completed by the end of this year — is currently engaged in global investment attraction in collaboration with Xuhui.

The latest details were revealed during a recent signing ceremony for the second batch of key investment projects in Xuhui in 2025.

It's part of a larger initiative that will see nearly 2 million square meters of new office space enter the market in Xuhui over the next three years.

The rise of the building economy in the district has become a cornerstone of its high-quality economic development.

The establishment of Xuhui's alliance for the high-quality development of buildings during the event further underscored this growth.

Twelve professional institutions and key enterprises — including the Shanghai branch of UK accounting firm Ernst & Young Global Limited — became founding members of the alliance.

According to Zhou Mi, senior manager for office building sales and leasing at Sun Hung Kai Properties Limited — ITC's developer, the complex in the heart of Xujiahui is one of the biggest ongoing projects in downtown Shanghai.

Boasting a total floor space of 700,000 sq m, the project will connect to existing metro lines 1, 9 and 11 underground and integrate with nearby commercial buildings through pedestrian walkways, Zhou noted.

With a blend of high-end offices, quality retail spaces and boutique hotels, the development aims to become a multifaceted urban hub catering to diverse needs, Zhou added.

Other buildings highlighted during the event include the Beiyang AI Town. Known as the city's first AI town, it features AI firms, labs and a residential community.

With its booming building economy and the strong momentum in investment benefitting each other, Xuhui is continuing to attract major players.

A total of 20 key projects were signed during the event — covering various sectors such as artificial intelligence, services for trade and commerce, digital energy and digital technology.

The agreement inked by Xuhui and Shanghai Inspection, Testing and Certification Co Ltd aims to establish a globally influential comprehensive inspection, testing and certification institution rooted in Shanghai and deeply engaged in Xuhui.

Looking ahead, the district remains dedicated to strengthening its industrial ecosystem, promoting the deep integration of sci-tech and industrial innovation and to expanding its development opportunities.

Source: Xuhui district government