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Large malls arising. |
Today, commercial complexes in Zhejiang Province are arising everywhere, even in small townships where there are several commercial complexes on the drawing board.
Trade commentators point out that this sector is overheated, so there could be a rationalisation of the building sector down the line. But it hasn't happened yet.
Recently, the Intime Group announced its business development strategy at Beijing Yintai Center, saying that the group is to launch three commercial complexes.
The Yintai Center, Intime City and Intime Shopping Center are to provide a more defined metropolitan outline for the Province.
Of the three, Intime City is the key development. In Zhejiang Province alone, there are several Intime projects, including Chengxi Intime City in Hangzhou, Fenghua Intime City, Beilun Intime City and Cixi Intime City in Ningbo.
That's not to mention the Haining Intime City in Jiaxing; Wenling Intime City in Taizhou and Zhongda Intime City in Hangzhou. They are to be completed in succession.
Before Intime launched its "city building" project, a large number of shopping cities or shopping malls had already mushroomed in Zhejiang.
Last April a huge new shopping mall, MIXC, was established in Hangzhou. This mega mall, covering 240,000 sqm and occupying three levels underground and six levels above, housed international boutiques, department stores, supermarkets and a variety of gourmet eateries.
It also has a range of leisure and service facilities, including an Olympic-standard ice skating rink and a Hong Kong-style five-star multiplex cinema, a spa and a hair salon.
Various existing shopping malls in Hangzhou undertook expansions or extensions and changed their name to "city" or "centre".
Increasing numbers of commercial complexes are set to rise in the central business districts and regional centres of Hangzhou.
These offer shopping, entertainment, catering and leisure facilities under one roof. A department store company has even planned to set up a public service counter for the payment of fines in a community-based commercial setting.
Commercial complexes have now become a common sight in Zhejiang. The Wanda Group planned four Wanda Plaza commercial complexes in Ningbo, Wenzhou and Shaoxing in Zhejiang, with most of them already under construction.
Van's is a department store brand under the Wanda banner. Other entertainment facilities such as Wanda cinemas also belong to the group.
These one-stop-shop complexes are very successful. They have also pushed up the prices of property in their vicinity, with ancillary residential buildings and apartments fetching high prices.
Most commercial complexes house a well-known chain department store. They have little problem with image building, goods supply, management or shopping traffic.
from Eric Wang, Hangzhou Office
(Image courtesy of Xinhua News Agency)
