Site Work Now Underway for Mixed Use Complex in Beijing

The first phase of development for Millennium Towers in Beijing has been by New China Homes, Ltd. Millennium Towers is being built on the last site approved for residential development in Zhongguancun, an area in Beijing known as China’s Silicon Valley. “In October, the Millennium Towers mixed use complex will begin sales of Phase I, which will initially consist of 200 apartments, says Michael O’Young, president and chief executive officer. “The housing component will eventually be comprised of 840 apartment units. We believe the market for housing is extremely strong in Beijing and are hopeful that Phase I will be sold out before year end.”

The 840 apartments will be housed in “smart” buildings that include such services as direct internet access, low-cost phone service, satellite and cable TV, security services and telemedicine. Homecare and e-commerce access services will also be provided, along with amenities such as tennis courts, a swimming pool, gymnasium, meeting rooms and restaurants.

Covering over 10 acres, Millennium Towers is planned to be a mixed use complex consisting of four residential towers ranging up to 24 stories, and a number of smaller residential buildings totaling 840 apartment units with adjacent parking. Two 24 story commercial towers will be smart buildings with voice, video, and data communications technology to accommodate the high-tech companies that are expected to occupy the space.