The expansion of the Shanghai New International Expo Centre (SNIEC) kicked off this summer after an additional $25 million investment by the project’s partners. A joint venture between the German exhibition companies Messe Dusseldorf, Messe Hannover, and Messe Munchen, along with the Chinese Lujiazui Exhibition Development Corp. (owned by the Shanghai Municipal Government), SNIEC will complete its expansion by the end of 2010.
At that time, the exhibition center will offer more than 2 million square feet of space in 17 exhibit halls and a 1.4-million-square-foot outdoor exhibition area. The recent investment brings the total construction cost to $320 million.
On behalf of the Chinese joint venture partner, Yang Xiaoming, chairman of SNIEC, stated: “SNIEC’s success stands for 10 years of constructive cooperation between the Chinese and German partners, resulting in creating Shanghai as the leading exhibition hub in China.”
In consideration of the worldwide economic slowdown, SNIEC has announced a rate freeze through 2010. In 2008, the center hosted 81 events, 68,000 exhibitors, and 2.7 million visitors.