Leading developer celebrates latest milestone with partners on progress made, with project on track for 2019 completion date

LOS ANGELES, CA (February 5, 2018) – Greenland USA, a leading developer of residential and commercial properties, today celebrated with Pankow PENTA Builders and other partners as the eighth and final tower crane was removed from Metropolis, signaling another major milestone for construction at the project and the progress made since its initial groundbreaking in February 2014.

“The progress we have made in such a short time at Metropolis is truly incredible, and we share this success with all those who have worked tirelessly on this project – the construction works, our partners and collaborators," said HU Gang, president and CEO, Greenland USA. “With the final tower crane removed, we can see how much Metropolis has transformed the skyline of Los Angeles, and we look forward to delivering all Metropolis has to offer L.A.’s vibrant downtown community in 2019.”

Metropolis is a more-than $1 billion, 6.3-acre, luxury, mixed-use property poised to elevate the standard of urban living in Los Angeles. Built on one of the last substantial parcels of undeveloped land in downtown Los Angeles, it is comprised of three residential towers, Hotel Indigo and retail space, all encompassed in towers reaching 18- to 56-stories high.

“Pankow PENTA Builders is currently removing the second tower crane from the Metropolis Tower 3. This is the last of eight tower cranes utilized on the Metropolis project as a whole. This marks a major milestone for the Metropolis development and is something the entire project team can be very proud of,” said Rick Schutter, project executive at Pankow PENTA Builders. “This tower crane, once erected at 650ft, is the tallest one used on the Metropolis project and was an integral part in constructing the 56-story Tower 3, the tallest building of the project. The construction of the skyscraper, started in 2015, is moving forward steadily according to the schedule. Pankow PENTA Builders in partnership with Greenland USA looks forward to the next phase of work towards completing the project.”
Located conveniently between Los Angeles’ financial district to the north and the entertainment district to the south, Metropolis will provide guests and residents with expansive views of the city, mountains and coastline. It will feature contemporary finishes and a variety of luxury amenities and desirable conveniences that are the hallmark of urban living. These include a gym, outdoor four-lane swimming pool and spa, outdoor kitchen pavilion, dog park and a children’s play area. Metropolis is currently in the second phase of construction, which includes a curated retail experience and openings of Residential Towers II and III and is slated for completion in 2019.

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About Metropolis
Metropolis is more than 6.3 acres of residential, retail and hospitality property located in downtown Los Angeles. Just two blocks from Staples Center and L.A. Live, Metropolis will span two full city blocks, and connect the financial and entertainment districts, while adding to the L.A. skyline and the vibrancy of the downtown scene. Metropolis will provide guests and residents alike with expansive views of the city, mountains and coastline, and offer a new standard for urban living. Phase II of construction is slated for completion in 2019.

About Greenland USA
Greenland USA is a leading developer of residential and commercial properties that transforms communities. Greenland USA leverages its extensive international track record, commitment to design innovation, quality and efficiency and its local market expertise to bring landmark properties to fruition. It is currently developing the $1B+ property Metropolis in Los Angeles, the $6B+ property Pacific Park Brooklyn in New York and a $1B+ property in South San Francisco.

Established in 2013, Greenland USA is a subsidiary of Greenland Group, which is publicly traded on the Shanghai Stock Exchange (SSE) and ranked 277th among the Fortune Global 500 in 2017. Visit www.greenlandusa.com for more information about Greenland USA, and www.metropolis.com for more on Metropolis. For Greenland USA’s project in New York, visit: www.pacificparkbrooklyn.com.

Contact:
Landen Zumwalt, for Greenland USA
323-202-1402
Landen.Zumwalt@Edelman.com