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It's full speed ahead for Metro and commercial construction
By Xu Wenwen |
February 21, 2012, Tuesday
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Print Edition
Print Edition
HANGZHOU is undergoing a building boom in transport and commercial development.
The city's first Metro, expected to carry 200,000 passengers daily, will begin test runs in October. Meanwhile, construction on eight commercial complexes is either underway or expected to begin in the near future.
The business plan of the Hangzhou Metro involves not only ticket sales, but also Metro business, Metro advertisement and property management.
"The core profit model is subway-plus-real estate," according to Chen Jie, vice president of Hangzhou Metro Co, adding that there will be similarities with the Shanghai and Hong Kong Metros.
The eight commercial complexes to be built range from 200,000 square meters to one million sqm. Ground has been broken for the Qibao Block commercial complex and the Wengmei commercial block. At the end of the month, work will begin on the Jiubao Bus Station.
Located at the intersection of Zhongshan Road N. and Huancheng Road N., the Wulin commercial complex will be built at the junction of Metro Lines 1 and 3, which both cross Wulin Square.
In five years the site will contain two landmark buildings, housing a luxury hotel, office building and shopping mall. The height has not been determined. A five-level underground parking garage will be built.
Qibao Block will be the "brain" of the Hangzhou Metro, containing its control center and a warehouse for Lines 1 and 4. The block will also contain a commercial complex covering more than 800,000 square meters; three-fourths will be residential buildings and the rest will be schools, hotels and offices.
Jiubao Bus Station complex will contain an indoor carbarn for buses and taxis.
Datieguan Complex will be at the intersection of Shaoxing and Dongxin roads, at the junction of Lines 1 and 5. Three residential buildings and several office buildings will be constructed; the average height will be nearly 100 meters.
Six air walkway corridors will be built in Wengmei Complex on Hanghai Road in 2014, connecting three residential buildings, one office building and one hotel. The corridors' height will be around 150 meters.
Commercial complexes
Complexes focusing on the auto industry will be built along the subway line through suburban Qiaosi South Bus Station and Qiaosi Bus Station.
The Binkang Complex will house residential and office buildings at the boundary of Binjiang and Xiaoshan districts.
The Hangzhou Metro will cross major shopping malls around the city. Hundreds of retail stores will be located at the entrances and exits of subway stations. Investment and tenants are being sought.
While construction is underway on commercial complexes above the subway lines, canvassing for business orders for more than 50 stores in the station office of Line 1 will begin next month, the local government says.
Line 1 starts from Xiaoshan District and goes through Binjiang District, including Wulin Square, and then goes through Qibao, Jiubao blocks and Xiasha District. It ends at Yuhang District.
Construction is underway on an underground shopping mall beneath Wulin Square; the mall will cover almost 100,000 square meters.
The business model of the station office and underground mall has not yet been released and the public has a range of opinions.
Entertainment business is suitable for the station office under Wulin Commercial Circle, according to Fang Fang, general manager of Hangzhou Winsome Fortune Estate Investment Consulting Co. Wulin circle has several department stores but no entertainment facilities to take advantage of the huge passenger flow from the Metro, she says. The lower-level stores should not be low-end, she emphasizes, since that would duplicate markets above ground.
Zhu Tongshen runs an accessory store in Longxiang Market in Wulin Circle that offers low-end and mid-range fashion and accessories.
"A similar market underground will cut the shopping rate above ground," she says, adding that she is considering opening a store near the new subway station office.
But Jin Yongnan who runs a fashion store in the market says that the new underground Metro stores will not affect her business because Longxiang Market has many loyal customers.
The city's first Metro, expected to carry 200,000 passengers daily, will begin test runs in October. Meanwhile, construction on eight commercial complexes is either underway or expected to begin in the near future.
The business plan of the Hangzhou Metro involves not only ticket sales, but also Metro business, Metro advertisement and property management.
"The core profit model is subway-plus-real estate," according to Chen Jie, vice president of Hangzhou Metro Co, adding that there will be similarities with the Shanghai and Hong Kong Metros.
The eight commercial complexes to be built range from 200,000 square meters to one million sqm. Ground has been broken for the Qibao Block commercial complex and the Wengmei commercial block. At the end of the month, work will begin on the Jiubao Bus Station.
Located at the intersection of Zhongshan Road N. and Huancheng Road N., the Wulin commercial complex will be built at the junction of Metro Lines 1 and 3, which both cross Wulin Square.
In five years the site will contain two landmark buildings, housing a luxury hotel, office building and shopping mall. The height has not been determined. A five-level underground parking garage will be built.
Qibao Block will be the "brain" of the Hangzhou Metro, containing its control center and a warehouse for Lines 1 and 4. The block will also contain a commercial complex covering more than 800,000 square meters; three-fourths will be residential buildings and the rest will be schools, hotels and offices.
Jiubao Bus Station complex will contain an indoor carbarn for buses and taxis.
Datieguan Complex will be at the intersection of Shaoxing and Dongxin roads, at the junction of Lines 1 and 5. Three residential buildings and several office buildings will be constructed; the average height will be nearly 100 meters.
Six air walkway corridors will be built in Wengmei Complex on Hanghai Road in 2014, connecting three residential buildings, one office building and one hotel. The corridors' height will be around 150 meters.
Commercial complexes
Complexes focusing on the auto industry will be built along the subway line through suburban Qiaosi South Bus Station and Qiaosi Bus Station.
The Binkang Complex will house residential and office buildings at the boundary of Binjiang and Xiaoshan districts.
The Hangzhou Metro will cross major shopping malls around the city. Hundreds of retail stores will be located at the entrances and exits of subway stations. Investment and tenants are being sought.
While construction is underway on commercial complexes above the subway lines, canvassing for business orders for more than 50 stores in the station office of Line 1 will begin next month, the local government says.
Line 1 starts from Xiaoshan District and goes through Binjiang District, including Wulin Square, and then goes through Qibao, Jiubao blocks and Xiasha District. It ends at Yuhang District.
Construction is underway on an underground shopping mall beneath Wulin Square; the mall will cover almost 100,000 square meters.
The business model of the station office and underground mall has not yet been released and the public has a range of opinions.
Entertainment business is suitable for the station office under Wulin Commercial Circle, according to Fang Fang, general manager of Hangzhou Winsome Fortune Estate Investment Consulting Co. Wulin circle has several department stores but no entertainment facilities to take advantage of the huge passenger flow from the Metro, she says. The lower-level stores should not be low-end, she emphasizes, since that would duplicate markets above ground.
Zhu Tongshen runs an accessory store in Longxiang Market in Wulin Circle that offers low-end and mid-range fashion and accessories.
"A similar market underground will cut the shopping rate above ground," she says, adding that she is considering opening a store near the new subway station office.
But Jin Yongnan who runs a fashion store in the market says that the new underground Metro stores will not affect her business because Longxiang Market has many loyal customers.
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