The 420,000 square-metre Bund Finance Centre will feature two 180 metre-high office towers, alongside a mix of shops and restaurants, a boutique hotel, and an art and culture centre.
Located at the end of Shanghai's popular waterside street The Bund, the complex is intended by Foster + Partners and Heatherwick Studio to connect the Chinese city's old town with its financial district.
"Sitting at the gateway to Shanghai's old town, on the river bank where boats would arrive from the rest of the world, this is an extraordinary site which stood unoccupied for many years," said Thomas Heatherwick.
"In filling this last empty site on Shanghai's famous Bund, the concept is inspired by China's ambition not to duplicate what exists in the rest of the world but to look instead for new ways to connect with China's phenomenal architectural and landscape heritage," he added.
The art and culture centre will be located at the centre of the masterplan and will feature exhibition galleries and a performance venue based on traditional Chinese theatres. According to the designers, this structure will be "encircled by a moving veil" that can be adapted to suit changing activities inside.
Foster + Partners' head of design David Nelson commented: "The project has given us an exciting opportunity to create a glamorous new destination, as well as a new series of spaces that create a major addition to the public realm, right in the heart of historic Shanghai."
The glazed facades of the buildings will be complemented with bronze details, while the edges will be finished with strips of granite that taper as they rise.
Images are by DBOX.