18 April 2019

China developer plans London Crystal Palace rebuild, report says

A unit of Shanghai Zhongrong Property Group Co. Ltd. has decided to invest 500 million pounds (US$810 million) rebuilding London’s Crystal Palace, a glass and iron commercial hub that burned down in 1936, Bloomberg News reported Thursday. The Chinese company plans to reconstruct the 500-meter-long former landmark and restore the surrounding 180-acre park, London Mayor Boris Johnson was quoted as saying at a press conference Thursday. Zhongrong may submit a planning application for Crystal Palace in about a year and construction would begin in the winter of 2015, the report said, citing a company statement.

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