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Property plans flourish at Metros
By Chen Ye |
December 31, 2009, Thursday
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Print Edition
Print Edition
HANGZHOU is taking a leaf out of Hong Kong's book with its new Metro system bringing conveniences to busy lives.
But it is also developing it another step by combining the transport facility with property development.
"The Metro income includes tickets, development of resources and real estate property fees," says Wen Jianxiong, vice manager of Hangzhou Metro Company's Investment Department.
"According to other world Metro systems, the real estate property aspect becomes the main income source."
The recently announced Qibao Complex on 50 hectares, located between Shanghai-Hangzhou-Ningbo Expressway and Desheng Highway, near Hangzhou East Railway Station transport hub, will be the biggest Metro complex in China.
The Metro complex will offer 630,000 square meters of residential living laid out in a design style resembling seven diamonds.
Jianhua Metro Station will link the complex and it is planned to include a business center with hotels, offices and function facilities.
"That's the real Metro house, with no noise or fumes and people enjoying their life with the convenience of Metro Line 1 and Metro Line 4," Wen says. Also he mentioned one junior school and two kindergartens will be established later.
The entire Qibao Complex project will be built in several stages over six or eight years. Metro Line 1 will start operating in 2011 and eventually there will be five Metro complexes in the city.
These will be Wulin Plaza Complex, Jiubao East Station Complex, Genshan Complex, Qibao Complex and Culture Plaza Complex.
Wulin Plaza Complex will occupy 2.33 hectares. It will be positioned as a combination of hotel, office building and shopping mall.
Genshan Complex will occupy 13.33 hectares. Jiubao East Complex occupies 3.71 hectares.
Construction of these three complexes is scheduled to start in 2010.
Further investigation will be undertaken into the future of real estate development on Culture Plaza Complex.
But it is also developing it another step by combining the transport facility with property development.
"The Metro income includes tickets, development of resources and real estate property fees," says Wen Jianxiong, vice manager of Hangzhou Metro Company's Investment Department.
"According to other world Metro systems, the real estate property aspect becomes the main income source."
The recently announced Qibao Complex on 50 hectares, located between Shanghai-Hangzhou-Ningbo Expressway and Desheng Highway, near Hangzhou East Railway Station transport hub, will be the biggest Metro complex in China.
The Metro complex will offer 630,000 square meters of residential living laid out in a design style resembling seven diamonds.
Jianhua Metro Station will link the complex and it is planned to include a business center with hotels, offices and function facilities.
"That's the real Metro house, with no noise or fumes and people enjoying their life with the convenience of Metro Line 1 and Metro Line 4," Wen says. Also he mentioned one junior school and two kindergartens will be established later.
The entire Qibao Complex project will be built in several stages over six or eight years. Metro Line 1 will start operating in 2011 and eventually there will be five Metro complexes in the city.
These will be Wulin Plaza Complex, Jiubao East Station Complex, Genshan Complex, Qibao Complex and Culture Plaza Complex.
Wulin Plaza Complex will occupy 2.33 hectares. It will be positioned as a combination of hotel, office building and shopping mall.
Genshan Complex will occupy 13.33 hectares. Jiubao East Complex occupies 3.71 hectares.
Construction of these three complexes is scheduled to start in 2010.
Further investigation will be undertaken into the future of real estate development on Culture Plaza Complex.
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