Today, half of humanity lives in cities, and that number continues to grow. Cities are the crystallization of human civilization and the place where human beings yearn for a better life, and they are full of charm, opportunities and possibilities.
In the past 30 years, Shanghai has experienced a city-building movement that has attracted worldwide attention, from the city center centered on People's Square and Nanjing Road to the continuous expansion outward, from the four sub-centers to the two engines of Pudong and Hongqiao, and then to the construction of five new cities, the city has grown round after round, and Shanghai has led the Yangtze River Delta urban agglomeration to excellence.
Dieh Sadić, a well-known British critic of architecture and design, once said: "To understand a city, we need to know the people who live there, and the people who build it." ”
Putuo Zhenru, located in the northwest of Shanghai, was famous for the old economic formats such as temple fairs, aquatic markets, fruit markets, etc., in the urban transformation of "freeing cages for birds", Zhenru was listed as one of the four sub-centers of Shanghai, in recent years, the construction has accelerated, and the buildings represented by the 280-meter Gao Shang field landmark building have reshaped the skyline of Zhenru, which has become a new highland of commercial consumption in Shanghai, an ecological and pleasant quality residential area, and a "big city pattern" has appeared.
It is really like the leading hand behind the million-square-meter urban complex, Cheung Kong Industrial Group (hereinafter referred to as "Cheung Kong Industrial"), which is one of the "city builders".
Today, Zhenru Sub-center has a strong commercial atmosphere and trendy agglomeration, and is rapidly emerging as a new commercial landmark in Northwest Shanghai, and investors in this area will also share the dividends of urban development.
Surrounded by 5 rail lines, the super complex is becoming more and more mature.
Cheung Kong is one of the largest property developers in Hong Kong, China, with one out of every seven private residential units in Hong Kong being developed by the group.
In Shanghai, Cheung Kong has built a high-end urban complex that is its masterpiece in the mainland, and now it is emerging in scale and becoming more sophisticated.
The 1.17 million square metre complex has been built over the past decade and includes 260,000 square metres of office buildings, 220,000 square metres of commercial retail, 50,000 square metres of hotels and 140,000 square metres of residential.
The flagship Grade A office complex has refreshed the skyline of Zhenru, and several office buildings that have been launched have achieved good leasing results. At the same time, the opening of the "love@ Metropole" mall is imminent, and the Harbour Plaza Metropole opened last year.
In addition, the mid-to-high-end living atmosphere of Zhenru sub-center has also taken shape, with an occupancy rate of more than 90% in the high-end field, and many high-end communities around the area have been delivered.
In such a complex, work, play, life and leisure can be seamlessly integrated.
In terms of ecological environment, Gao Shang also deliberately introduced the concept of "High Line" in New York, and reproduced it into the Shanghai version of "Garden Corridor", with a total green area of more than 50,000 square meters, creating a life in an "urban park".
The development of a new area is inseparable from the transportation location, and the transportation advantages of the Gao Shang field can also be said to be unique, it is located in the real sub-center, which will soon become the "5-track intersection": Shanghai Rail Transit Line 7, Line 11, Line 14, Line 15 and Line 20 (under construction) form a criss-crossing rail network. Gao Shang Field is located in the core of this intersection point that reaches the whole city, where Metro Line 11 and 14 intersect, and is surrounded by Metro Line 7 and Line 20 under construction, which can quickly connect the two major transportation axes of Shanghai West Railway Station and Hongqiao.
Such unique traffic conditions will bring a huge flow of passengers. Shanghai Metro Line 11 is the world's longest through-line subway line and the first inter-provincial subway line in China, with an average daily passenger flow of nearly 800,000 passengersLine 14 runs through the five districts, and although it is a new line, it has an average daily passenger flow of more than 360,000 passengers.
The flagship Grade A office building group is rising, and the T2 office building is making its debut.
In recent years, Zhenru Sub-center has made remarkable efforts in industrial upgrading, and has become an important carrying area for emerging industries in Putuo, attracting more and more multinational companies to settle in. High-quality commercial and office projects with diversified functions, complete supporting facilities and pleasant ecology are being completed one after another, comprehensively building a growth pole for regional economic and social development.
At night, the neon is rising, and the office buildings in the core business district of the sub-center are full of light, and the office buildings in the high-end field are particularly conspicuous among them, contributing momentum to the accelerated rise of Zhenru.
It is worth mentioning that the T1 office building was designed by the world-renowned architectural design company KPF, and with a height of 280 meters, it is the tallest building in Putuo area, which is the real "gateway" of northwest Shanghai.
At present, in the high-end office building group, except for T1 and T14, which have not yet been delivered, several office buildings that have been launched have achieved good leasing results.
The T9 office building was fully leased as soon as it was launched, and the T3 office building launched last year was very popular and popular, with the main customers being IT companies, consulting services, software platforms, biotechnology and other companies, and key customers including Fenghe Information Technology, Whimsical New Era Media Company, EMG International Public Relations Consulting Company, etc. It is worth mentioning that 30% of the tenants are multinational enterprises. Whether it is a start-up enterprise or a world-renowned company that is strategizing, they all choose the high-end field.
Recently, Gao Shang Field has launched a T2 office building, with a total of 32 floors, which is close to the Zhenru subway station, with a fashionable and elegant appearance and a transcendent interior space, and you can see that the floor is about 10 when you enter the first floorThe 7-meter-high double-storey lobby space is noble and magnificent, showing a high-end business atmosphere. Floor net up to 285 meters, full floor-to-ceiling window design, light and transparent, standing in front of the window, open space, the office is the best city observation deck.
In terms of professional property management, Cheung Kong Asset Group's "Jiali Property" has specially dispatched a Hong Kong-funded professional management team to take charge of the entire high-end field and provide efficient and professional services for the settled enterprises. It has more than 30 years of management experience to meet customers' needs for boutique business, serving more than 20 major cities across the country, with a management area of more than 10 million square meters.
At present, the Grade A office building T2 is opening for global leasing, and the 1,000-square-meter exhibition hall on 30F is being opened simultaneously, and some large customers with a large area or more than half a floor can enjoy a series of negotiable privileges, including the establishment of an exclusive front desk in the lobby, the corporate logo flagpole at the main entrance, and the naming right of the office building, etc., to help the settled enterprises shape their brand image and convey their corporate value.
Commercial trends gather, and food brings fireworks.
The American critic William White, author of The City: Rediscovering the City Centre, once said, "The streets and alleys are the river of life in the city, an indispensable part of the life of the city." "This river of life is only full of vitality when the street space is in line with the function of the neighborhood and the life of the city.
In the 1.17 million square meters of high-end area, a variety of elements and innovative functions have turned it into a social complex space, where people of different ages and diverse groups can find their own social, living and experiential destinations.
As a large-scale flagship shopping mall built by Cheung Kong Industrial, the "love@love@ Metropolis" has a commercial volume of nearly 220,000 square meters, making it the largest underground commercial body in northwest Shanghai. Recently, the commercial part of the high-end field, "love@ Metropolis", has also announced a new upgrade, focusing on the two highlights of "catering and food" and "young trend" in the first phase.
The food and beverage area is a highlight of the "love@ Metropolis" shopping mall, and the well-built special food street is divided into two floors, facing diversified food theme investment, covering Hong Kong food street, family parent-child theme restaurant, Internet celebrity restaurant, night snack area tavern, etc.
The trendy living area is another highlight of the "love@ Metropolis" mall, creating a diverse social space for young consumers. The area also has a wealth of business planning, including pets and related services, online celebrity tea and coffee, sports-themed interactive experiences and clothing, two-dimensional theme experiences, etc.
It is reported that the "love@ Metropolis" adopts a rolling development and three-phase investment model, and the brands that have opened in the first phase include Hema X Membership Store, Starbucks Reserve Store, North American Legend Coffee Tim Hortons, Xinwang Tea Restaurant, Industrial and Commercial Bank of China, etc., among which Hema X Membership Store is the first store in the center of Shanghai, with an area of more than 220,000 square meters, unprecedentedly grand after the opening. The second and third phases of the business are also in the process of attracting investment, and many well-known merchants and international chain brands have confirmed their leasing intentions.
Consumer and retail sales are recovering, and the future of specialty shops is promising.
This year, after getting rid of a series of troublesome factors, China's economy has rebounded significantly, consumers' pent-up consumer demand in the past few years has been released, and the domestic consumer market has shown a recovery trend.
In the first half of 2023, the total retail sales of consumer goods will reach 227588 billion yuan, a year-on-year increase of 82%, and the retail sales of consumer goods other than automobiles 205178 billion yuan, an increase of 83%；catering revenue was 2,432.9 billion yuan, an increase of 214%。
According to the statistics of relevant institutions, Shanghai's retail traffic and consumption are recovering steadily, and in the second quarter of this year, the city's net absorption of retail properties returned to a positive value, reaching 1690,000 square meters, of which the catering format remains active, retail formats such as fashion and lifestyle have regained confidence in expanding stores, and sportswear, high-end skin care, perfume brands, niche designer brands, new energy vehicle showrooms and smart homes have shown relatively positive expansion trends.
A clear trend is that the vacancy rate of commercial properties in core business districts has dropped significantly, and many regional first stores and new brands have begun to move in. At this stage, for people with asset allocation needs, it has become a good choice to start a set of shops in the core business district.
As a key area of Shanghai's urban construction, its development has entered the fast lane in recent years. Now, in the high-end field of the large-scale complex located in the core area of Zhenru, there are still a small number of shops on the street for sale, adjacent to the Hema X Club and Sam's Club, radiating the high-end owners and urban elites in the high-end community, and has the advantages of transportation and first-class business atmosphere.
At present, the high-end field focuses on the sale of shops along the street, with 4 floors above ground and 2 floors underground (mezzanine + B1 floor), with a construction area of about 386 406 square meters, with independent door numbers and independent elevators inside, multiple commercial spaces, which can be flexibly designed, with flexible and diverse commercial spaces, to meet the needs of various business formats of shops, such as creative first stores, competitive fashion toys, brand high-end, sports and entertainment, leisure catering, beauty salons, etc.
In addition, there are still a small number of first-floor duplex characteristic households left in the Gao Shang area, which are located in the A4 plot of the community. These characteristic households are all duplexes (above ground + underground), with an above-ground construction area of about 108 164 square meters and an underground construction area of about 109 147 square meters.
These characteristic shops along the street and the first floor of the duplex characteristic households are not many units left, is a scarce product in the inner central area, all for the existing house, existing shop sales, what you see is what you get, with the rise of the sub-center of the city, investors will also share the dividends of urban development.
Interview with Kwok Ziwei, Director of Cheung Kong Real Estate:
Witnessing the changes of the real plate, the Shanghai property market will remain stable in the future.
Guo Ziwei, director of Cheung Kong Real Estate Investment*** (hereinafter referred to as "Cheung Kong"), has more than 30 years of real estate experience in Shanghai and Hong Kong, and he is one of the witnesses of the rise of the Zhenru sector.
Shanghai has determined the overall structure of the city with "one main and four subordinates" for more than 20 years, of which the "one main" is Pudong Xiaolujiazui and Puxi Bund, and the "four subordinates" are Xujiahui, Wujiaochang, Huamu and Zhenru.
Talking about the development of Zhenru, Guo Ziwei said in an exclusive interview with CBN: "At present, Zhenru has changed from a sub-center to a real urban area, and the development of Zhenru has absorbed the successful experience of the first three sub-centers, has the advantage of being a latecomer, avoiding detours, and saving a lot of resources." ”
Cheung Kong is one of the first Hong Kong-funded real estate companies to enter the mainland, having entered Shanghai in 2006 and has built a number of large-scale projects. Cheung Kong was also the first brand developer to settle in the Putuo Zhenru sector, when there were fruit markets and aquatic products markets in the area, and the whole sector presented the appearance of the "old area", and its development was in the exploration stage.
How to start pulling the old area with a complex urban interface into a sub-center with a metropolitan appearance?
Putuo District has given us support in the direction, combined with our experience in real estate development in Hong Kong for many years, we believe that we can not do pure business, nor can we do pure residential, but should use a comprehensive concept to look at the development of this land, including building a 280-meter landmark building and a number of office building combinations, shopping malls, hotels, residential and other formats, such a large-scale development trend, the surrounding area is gradually more developers to participate, the development of the entire area to pull up. Guo Ziwei recalled.
As one of the four sub-centers of the city, Zhenru is now a high-end residential community in Shanghai.
Guo Ziwei revealed that the residential sales of the Gao Shang field project have been basically completed, and from the perspective of customer portraits, the buyers are mainly middle and high-end people, with a certain economic foundation, and the buyers of apartments are more small companies and entrepreneurs, and they have diversified and flexible needs for products.
However, customers who missed the sale of the Gao Shang field project before do not regret it, and now there are still a small number of first-floor characteristic households and shops along the street for sale, which is the last "treasure" of the Gao Shang field project.
According to Guo Ziwei, the remaining small number of first-floor characteristic households in the project are atmospheric and distinctively structured, all of which are first-floor duplex structures, with an above-ground construction area of about 108 164 square meters, a basement construction area of about 109 147 square meters, and a basement floor height of up to about 415 meters, with sunken courtyard design, flexible space and high utilization.
The small number of shops along the street for sale, 4 floors above ground and 2 floors underground (mezzanine, B1 floor), with a construction area of about 386 406 square meters, with independent door numbers and independent elevators inside, can create a personalized high-quality commercial space.
Is it a good time to invest in the property market?For the judgment of the property market trend in Shanghai and Hong Kong, Mr. Guo Ziwei, who has decades of experience in the real estate industry, told the story.
The property market development cycle in Hong Kong and Shanghai is different. Although both have experienced the stage of rapid urban development, the Hong Kong property market has experienced many major fluctuations, and the Shanghai property market is also very mature, but it has not experienced great storms for a long time in the past. Because Shanghai is the economic center of the country, its real estate demand has remained stable, and relatively speaking, the real estate market has been calm. ”
Looking forward to the future of the two cities, he believes that Shanghai's market has been improving and trending positive after the recovery of the epidemic, and although it has encountered some fluctuations, on the whole, the fluctuation range is not large. This year, after the introduction of policies such as "recognising the house but not recognising the loan" and reducing the interest rate of the first home loan, the real estate market ecology has become more healthy.
The situation in Hong Kong is different, the Hong Kong dollar implements a linked exchange rate system, which is pegged to the US dollar, so the change of the US dollar and whether the Fed raises interest rates will have a certain impact on the Hong Kong real estate market. Guo Ziwei judged that the Fed's interest rate hike has reached the final stage, and it is expected that there will be a chance to cut interest rates in the second half of 2024, when the market is expected to recover.