The Chinese developer behind an eight-storey clubhouse with a billion-dollar view over Shanghai's Huangphu River is turning to lower-end coffee shops and restaurants to fill the space, as a broad anti-graft campaign puts the brakes on conspicuous spending. The state-of-the-art, steel and glass building was originally designed as a playground for China's elite, including space to mix and mingle with officials from state-owned enterprises based in offices nearby. "Last year, we originally planned to open a clubhouse in the building, but it became too sensitive," said Vincent Zuo, a manager of research and development at Franshion Properties , which has a market value of $2.7 billion. "We are now looking to open restaurants and coffee shops," said Zuo, adding that an art museum was another option for the arch-shaped building which sits in the middle of the company's 30 billion yuan ($4.8 billion) cruise terminal complex.
via Business News - Yahoo Finance http://ift.tt/1h3wwNN
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