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Work to turn Waitanyuan into hip zone
By Cao Qian |
March 17, 2010, Wednesday
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Print Edition
Print Edition
WAITANYUAN, or the headstream of the Bund, is expected to emerge as a landmark lifestyle, artistic and fashion zone in Shanghai in about two years as improved traffic and renovation of historic buildings in the Bund area will turn it into a new magnet for visitors and retailers from around the world.
The area, sited along the northern stretch of the Bund and mainly surrounded by the Huangpu River to the east, Suzhou Creek to the north, Sichuan Road M. to the west and Dianchi Road to the south, will have up to 100,000 square meters of retail space in operation by the end of next year, compared with the existing 63,000 square meters in the Bund area, according to a research released yesterday by Jones Lang LaSalle Shanghai.
"The Waitanyuan project, whose first phase mainly consists of Rock Bund, Park 33, Yi Feng Building, Bund 27 as well as the Peninsula Shanghai, will emerge as the sixth major retail clout in Shanghai by the end of 2011 following Nanjing Road E., Nanjing Road W., Xujiahui, Huaihai Road in Puxi and Lujiazui in Pudong," said Eugene Tang, head of retail for central China operations at Jones Lang LaSalle.
"With unique architectural and historic elements rooted in the Bund area, retailers from around the world have shown keen interest to expand in the future stylish zone," Tang said.
Giorgio Armani, Prada, Chanel, Piaget, Berluti, Chaumet, Ralph Lauren and Shanghai Tang are some of the retail brands in the Waitanyuan area.
The Bund has been undergoing a massive facelift to prepare for this year's Shanghai World Expo.
The area, sited along the northern stretch of the Bund and mainly surrounded by the Huangpu River to the east, Suzhou Creek to the north, Sichuan Road M. to the west and Dianchi Road to the south, will have up to 100,000 square meters of retail space in operation by the end of next year, compared with the existing 63,000 square meters in the Bund area, according to a research released yesterday by Jones Lang LaSalle Shanghai.
"The Waitanyuan project, whose first phase mainly consists of Rock Bund, Park 33, Yi Feng Building, Bund 27 as well as the Peninsula Shanghai, will emerge as the sixth major retail clout in Shanghai by the end of 2011 following Nanjing Road E., Nanjing Road W., Xujiahui, Huaihai Road in Puxi and Lujiazui in Pudong," said Eugene Tang, head of retail for central China operations at Jones Lang LaSalle.
"With unique architectural and historic elements rooted in the Bund area, retailers from around the world have shown keen interest to expand in the future stylish zone," Tang said.
Giorgio Armani, Prada, Chanel, Piaget, Berluti, Chaumet, Ralph Lauren and Shanghai Tang are some of the retail brands in the Waitanyuan area.
The Bund has been undergoing a massive facelift to prepare for this year's Shanghai World Expo.
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