Based on Taiwan China Times, Taiwan’s Evergreen Group has announced that its hotel business, Evergreen Hotels will enter Shanghai soon.

The agreement has been signed between Shanghai Pudong Software Park Company and Evergreen Hotels. It will invest TWD 2.3 billion to build its first mainland Evergreen Laurel hotel in Pudong, Shanghai. The project is expected to be completed in 2013.

Located on commercial land in phase 3 of the Shanghai Pudong Software Park, the hotel will be only a ten-minute drive from the Shanghai New International EXPO center and the Shanghai Disneyland Resort, which is slated to open in 2015.

The public relations executive of Evergreen Group, Mr. Nie Guowei says that Shanghai will be an economic, trade, financial, and shopping center with frequent business travel and a huge demand for hotels. The group had chosen Shanghai as its first location in the mainland after careful assessment.