Construction work on the Southern International Center began on Nov 1 with a foundation-laying ceremony held in the startup area of Guangzhou International Financial City in Tianhe.

A lion dance marks the opening of the foundation-laying ceremony for the Southern International Center. [Photo/WeChat account: tianhefabu]

The project will bring together global headquarters offices, premium retail, a high-end hotel and cross-border business facilities in one mixed-use complex. It is also set to become the Greater Bay Area's first headquarters platform devoted to multi-level economic and trade cooperation between China and Africa.

Guangzhou Yufeng Holding acquired the site in July for 2.83 billion yuan ($421.9 million), bringing in 1.8 billion yuan in overseas capital from Singapore and the Hong Kong, which accounts for 60 percent of the total. Planned investment in the project stands at 8 billion yuan.

The complex comprises twin towers and a retail podium. The north tower will house financial headquarters, fintech, TMT innovation and professional services, while the south tower will be home to a luxury hotel and serviced apartments. The design blends Lingnan cultural elements with an international perspective.

A rendering of the Southern International Center. [Photo/WeChat account: tianhefabu]

The project will focus on energy trade, fund investment and technological innovation, creating a platform for petroleum finance and cross-border settlement services that supports the Belt and Road Initiative and China-Africa cooperation.

The groundbreaking adds another landmark to the financial city, which has picked up pace this year with the opening of Guangzhou Financial Plaza and the 320-meter Grantral ONE.