Shui On Land Ltd, the Shanghai-based developer controlled by billionaire Chairman Vincent Lo, will jointly invest 15 billion yuan (US$2.2 billion) with partners in a software project in Dalian, northeastern China's Liaoning Province.

Shui On, which developed the Xintiandi office and entertainment complex in Shanghai, expects the first part of the second phase of the project to be completed in 2009, Lo said yesterday.

(Shanghai Daily June 19, 2008)