China Architectural Engineering today announced that it has entered into a new agreement with Shanghai Nine Dragon Co., Ltd. (http://www.ninedragon.com.cn) to undertake the major projects located in the Nine Dragon Resort, Zhejiang, including a seven star hotel, a marine park and luxurious villas. The total project value is expected to exceed $500 million. The projects are expected to commence in the second half of 2009 and be completed within three years.
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