London’s Crystal Palace to be restored by China-based tycoon

London’s Crystal Palace to be restored by China-based tycoon

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China-based real estate giant Zhongrong Group has announced its plan to restore the popular Crystal Palace Park in London. The Crystal Palace is home to the Victorian Crystal Palace, which accommodated the 1851's Great Exhibition.

crystal palace

The new project was announced on October 3, 2013 and will be supported by a hefty investment of 500 million pounds. The project has an aim to replicate the palace's 900,000 square foot glass halls, which burned down in a fire which occurred in 1936. In addition to that, the 180-acre Crystal Palace Park will be renovated as part of the ambitious project.

Ni Zhaoxing, the Zhongrong Chairman said that he wants to renovate the palace into a fine-arts exhibition and trading center. The new plan states that a three-lined boulevard in the park will be made, along with an improved park access, as well as a new cafe and a visitor’s center.

Ni said, “We want to restore Crystal Palace to its former glory, and we also want to provide a venue for art collectors from all over the world to showcase and trade their collections”. He went on to say that the goal will be to offer leisure and hospitality facilities in and around the park, in order to make tourists' and collectors' stays more appealing and comfortable.

Photo Credits: Britanica

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