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The Mainland IP Portfolio is poised for growth with a pipeline of International Finanical Square ("IFS") developments. The Group's IFS series in China is progressing at full speed as planned. It will strengthen the Group's recurrent income base upon completion. The Outlets sector also presents growth opportunities in China.
Investment Properties ("IP")
Chengdu IFS, modelled on Harbour City in Hong Kong, is strategically located at the intersection of three major commercial roads - Hongxing Road, Dacisi Road and Beishamao Street, the busiest pedestrian shopping area of the city. The prime location, comparable to a combination of Hong Kong's Central CBD, Causeway Bay and Tsim Sha Tsui, alongside the directly connected mass transit railway station (lines 2 and 3 intersect), puts Chengdu IFS in an unrivalled position to attract mainstream customers in the western China metropolis. With a total development area of 760,000 square metres, Chengdu IFS comprises a 206,000-square-metre mega shopping mall, 291,000-square-metre premium-grade A office towers, 72,000-square-metre serviced apartments, and a 230-room luxury hotel, Niccolo.
Chengdu IFS has rapidly become a landmark destination in western China soon after its opening in 2014. Presenting an impressive selection of nearly 300 global premium brands (over 100 debuts in western China), the mega mall affirms its dominant position with its unique advantageous elements. The 15-metre-tall outdoor giant panda art installation and the 7,700-square-metre Sculpture Garden remain popular photographic hotspots, while the entertainment offerings including a UA (IMAX) movie theatre and an ice skating rink create a euphoric atmosphere for shoppers.
Among a number of accolades received by Chengdu IFS is "2016 VIVA Best-of-the-Best Design and Development Award" (VIVA for Vision, Innovation, Value, Achievement) presented by International Council of Shopping Centers in Las Vegas in late May 2016, signifying the first Hong Kong developer and China's first-ever commercial project winning this prestigious global title.
The three premium Grade A office towers mark the ultimate 21st Century workplace and the most compelling location for multinationals, financial institutions and major corporations in western China. Raising the benchmark for future offices, they create an optimal marketplace for tenants to conduct seamless business interaction.
IFS Residences, a serviced apartment encompassing 150 luxurious residences, opened at Chengdu IFS in November 2016. It is currently accommodating elite residents who are local and overseas entrepreneurs or expatriates of multinational organisations. IFS Residences is recognized as one of the most aspirational reviewed residences in Chengdu.
Chengdu Times Outlet, conveniently located in close proximity to the Chengdu Shuangliu International Airport, has instantly become one of the most-visited outlet destinations in Chengdu since opening in late 2009. This 63,000-square-metre mall, which offers over 250 top international luxury brands, is one of the most productive outlet malls in the Mainland.
Changsha Times Outlet, mirroring the success of Chengdu Times Outlet, opened in November 2016. Located at the northwest area of Changsha, this 72,000-square-metre outlet mall which offers over 230 brands, enjoys direct access to multiple major motorways (including metro and high-speed expressway) connecting Changsha to various popular tourist attractions nationwide including Zhangjiajie and Donting Lake.
At 270 metres, Shanghai Wheelock Square is not only the tallest skyscraper, but also the most preferred office address for multinationals and major corporations in Puxi. Its convenient location, right opposite to Jing'an Temple Metro Station from where frequent trains commute to Pudong International Airport and adjacent to the Yan'an elevated expressway, provides unparalleled accessibility. It also sits between the Bund and Zhongshan Xi Road with Hongqiao International Airport further to the west.
In recognition of its provision of world-class service and management to tenants, Shanghai Wheelock Square was honoured with many accolades. These included "Luxury Attitude Award 2016" and "Quality 5C Award 2016" by Golden Key International Alliance, as well as "Shanghai Commercial Innovative Service Excellence Corporation' and "Shanghai Commercial Service Brand" by Shanghai Commercial Association.
Shanghai Times Square, strategically located on Huaihai Zong Road, is a high-end retail destination with the largest Lane Crawford store in China and a mega lifestyle specialty store City'Super. Various family-friendly events have been hosted to bolster engagement of families and to drive patronage and sales. The development also boasts a 30-storey Grade A office tower and a 26-storey deluxe serviced apartment tower.
Wuxi IFS is a 339-metre landmark tower offering world-class Grade A offices and a premium hotel. As the tallest skyscraper in Wuxi CBD, the development is overlooking Taihu Plaza which boasts the large adjacent landscaped square, a public library, the public museum and the historic Grand Canal.
Changsha IFS, capitalising on the most coveted location in Furong District's Jiefang Road in Changsha, is best-placed to be the new landmark of the core CBD. Modelled on Harbour City in Hong Kong, Changsha IFS boasts retail street frontage of exceeding 700 metres. It commands an underground linkage to a future Wuyi Plaza Station (Metro Lines 1 and 2) and is in close proximity to one of the busiest pedestrian streets (Huangxing Road) in China.
Changsha IFS is poised to become an unrivalled shopping, dining, lifestyle and leisure destination in Hunan province and home to a myriad of the world's most promising retailers. The enormous 254,000-square-metre mall will make it the ultimate multi-use development in the region. The mall is scheduled to open in late 2017. Shaping the ideal workspace for tomorrow, the premium office towers are set to be the focal point of financial institutions and major corporations based in the region. Handover to tenants is scheduled to start by the third quarter of 2017. The opening of the third Niccolo hotel at Changsha IFS, scheduled for the first quarter of 2018, will further demonstrate excellence. Full completion of the project is scheduled for 2019.
Chongqing IFS is located in Jiangbei District, Chongqing's new CBD where the Yangtze River meets the Jialing River. It enjoys a fabulous panoramic river view and convenient connectivity through three nearby bridges. With light railway lines 6 and 9 set to pass that area with respective stations nearby, the development is adjacent to the Chongqing City Grand Theatre, the Chongqing Science Museum and the Central Park. The 50%-owned development featuring an iconic 300-metre landmark tower and four other towers above a 114,000-square-metre retail podium, is the largest mixed-use development located in Jiangbei District. Positioned to be a boutique-sized Harbour City, it will feature a mega mall, Grade A offices and the second Niccolo luxury hotel. The mall and Niccolo Chongqing are scheduled to open in the third quarter of 2017.
Suzhou IFS, located in the CBD overlooking Jinji Lake, is a 450-metre landmark commercial development adjacent to Xinghu Street MTR Station (Line 1). The development comprises international Grade A offices, sky residences and a 133-room Niccolo hotel with full scenery of Suzhou. Full completion is scheduled for 2018.
The Group's IP portfolio
|Chengdu International Finance Square
|Chengdu Times Outlet
|Chongqing Times Square
|Changsha Times Outlet
|Dalian Times Square
|Shanghai Wheelock Square
|Shanghai Times Square
|Wuhan Times Square
|Wuxi International Finance Square
|Changsha International Finance Square
|Chongqing International Finance Square
|Suzhou International Finance Square
Development Properties ("DP")
The Group's DP land bank was maintained at 4.2 million square metres, spanning 15 cities. In 2016, the Group acquired three sites in Beijing, Hangzhou and Shenzhen for RMB3.7 billion (GFA: 116,500 square metres) on an attributable basis. The Group will continue its selective land purchase strategy, with a focus on first-tier and top second-tier cities
Click here for the major China Development Properties List