Shui On Land Launches Commercial Cluster Of Chongqing Tiandi

2012-04-18 20:00 810

SHANGHAI, April 18, 2012 /PRNewswire-Asia/ -- Shui On Land Limited, the Shui On Group's flagship property development company in Mainland China, launched Commercial Cluster of Chongqing Tiandi to the public, domestic and international enterprises and media, at Langham Hotel, Shanghai. Senior executives from Shui On Land introduced the features of the Commercial Cluster of Chongqing Tiandi, which is positioned to be the contemporary service centre for international commerce and world enterprises. The office space in the Commercial Cluster occupies 800,000 square metres, adequate to accommodate a thousand of large-scale companies. In the first phase, a total office space of 130,000 square metres will be leased to the enterprise tenants global wise. "We are approaching approximately a hundred companies currently, and the leasing revenue is expected to amount to hundreds of millions," says Mr. Tang Ka Wah, Executive Director of Shui On Land.

The launch of Commercial Cluster of Chongqing Tiandi is a proactive response to the trend that the manufacturing center is transferring gradually from the eastern China coast area to the inland middle and western China. A report from China Commerce Department reveals that 480 enterprises, among the Global Top 500 enterprises, have set up office or factories in China, and mostly in the eastern coast area in China. However, those international enterprises, especially the manufacturers, are facing some similar problems, such as increasing HR cost, tight producing resources, and decreasing competitiveness. As a solution to the difficulty, some of the multinational enterprises have chosen to move its offices or factories to the more inland area of China. Chongqing boasts attracting the most number of Global Top 500 enterprises in middle and western China, among them are GM, HP and Ford. "Chongqing has developed rapidly since the implementation of the go-west strategy, and its charm and potential for development is limitless," says Mr. Wei Chuanzhong, an officer from Yuzhong District of Chongqing.

The rapid development brings huge opportunities, and yet at the same time it requires the acceleration on the infrastructure and commercial environment for business practice. Observing the growing potential in the city, Shui On Land develops world-class facilities to cater to the increasing requirements in the rapidly growing municipal. The Commercial Cluster of Chongqing Tiandi, which is set to become a world-class landmark of contemporary living, consists of Grade A offices, a five star hotel, luxury serviced apartments and a shopping mall.

Occupying a site area of about 1.5 million square metres in total, the Commercial Cluster contains a total area of 800,000 square metres of Grade A office space; 300,000 square metres. of retail facilities; 400,000 square metres for a 5-star plus hotel, a serviced apartment, car parks and other amenities. With a 468-metre height, 1 Corporate Avenue, one of the three high risers in this cluster, will be one of the world's tallest buildings, exceeding the famous "TAIPEI 101" in Taiwan and the Jin Mao Tower in Shanghai. Designed by the renowned architectural practice, KPF, this iconic landmark is destined to become the most distinguished feature of the Chongqing skyline. Built to the highest international specifications, Chongqing Tiandi is quickly becoming the first choice of large corporations, leading financial and trading services companies.

Like the Chuan Opera performers changes his faces on the launch conference stage, with the rising of the Commercial Cluster and other world-class facilities Shui On Land develops, Chongqing is ambitious to transform itself dramatically from an inland city into an international financial settlement center and China's first inland offshore financial center offering settlement services.

About Shui On Land

Headquartered in Shanghai, Shui On Land (Stock Code: 272) is the flagship property development company of the Shui On Group in the Chinese Mainland with a proven track record in developing large-scale, mixed-use city-core redevelopment projects. The Company has eight projects in various stages of development in prime locations of major cities, with a landbank of 13.0 million sqm (11.1 million sq.m. of leasable and saleable GFA, and 1.9 million sq.m. of clubhouses, car parking spaces and other facilities). The Company was listed on the Hong Kong Stock Exchange on October 4, 2006, the largest Chinese real estate enterprise listed that year. Shui On Land was included in the 200-Stock Hang Seng Composite Index Series and Hang Seng Freefloat Index Series in March 2007.

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Source: Shui On Land Limited