SMI Said to Invest in $2.98B NYC Project

(Source: Mingtiandi) Shanghai Municipal Investment (SMI), the developer of the 128-storey Shanghai Tower, is said to be partnering with New York’s Extell Development on a $2.98 billion project in Manhattan. Documents filed in Delaware, and reported by The Real Deal, indicate that Extell’s Central Park Tower Project may be renamed the SMI Central Park Tower, with other records at the New York attorney general’s office showing further evidence of the Chinese state-owned firm’s involvement in the 1,550-foot-tall (472 metre) combined commercial and residential development. See story at http://www.mingtiandi.com/