With the background of ChinaĄŻs open-up policy to the foreign retailer, Grandview Plaza seems more eye-catching as it emerges. ----photographed by Xiao Guan
The musical fountain on the north square of Grandview Plaza. -----photographed by Huang Dan
From December 11 this year, China will completely open up its retail market to international players. Foreign retailers will no longer be subject to any limitations on share-holding ratios, or the number or location of their stores in China. Many foreign commercial brands rushed in the marked, and the demanding of shops in Guangzhou is therefore increasing, marking a great spur to the shop leasing and investment. Meanwhile, there are lots of large-scaled business properties & housing now in the market. The business properties in full swing will bring about more opportunities and challenges in Guangzhou.
The Commercial Giant of Guangzhou Set Out
When Grandview Plaza, the largest business property with construction area about 4 million square meters, is about to open, it happens to come our countryĄŻs Open-up policy to all the foreign retailers, so attentions are bound to cram on this hyper shopping mall.
As we know that the 4th generation of the flagship shop of ParknShop has begun its trial running in Grandview Plaza since November 5, while over 95% shops of Grandview have been occupied at present. The flagship shop of WatsonĄŻs of HWL and its major rival Mannings, both are from Hong Kong and concentrating on personal care products, are said to be signing in Grandview Plaza. WhatĄŻs more, the in coming brands include Guangzhou Friendship Store, Yong-Le Household Appliances, Starbuck Caf¡§Ś, KFC, McDonaldĄŻs, Häagen-Dazs and PizzaHut.
Associates Are Pressing On With Shop-Decoration
For the time being varied brand-owners are coming one after another into Grandview Plaza, busy decorating their shops, while the PlazaĄŻs decorating is going on for 24 hours a day. The progressĄŻs quite satisfying and the PlazaĄŻs outline of appearance and some inner ornaments can be seen now. Standing on the site, you can see the whole exterior, with also some signs like Ą¡ãFlying Sparks & Silver LightsĄą or Ą¡ãWest Han DynastyĄŻs Sculptures With Eruptive Dragon TotemĄą on the Hawaiian Palmolive Square, 6000 square meters, which is at the North Exit of the Plaza. And the highest Musical Fountain Spring of the world is to be tested. At the same time, the underground tunnel on the northeast, width 13 meters, connecting to the Subway No. 1, is now under construction too, with a conveyor especially designed to make it more convenient for the consumers. Inside the Plaza, the rudiment of the inner look is shown, seemingly magnificent majestic. There are 92 escalators, 14 vertical lifts, 7 sightseeing lifts and 11 decorative lamp sets in the atrium, all ready for used; a 2-floor-height aquarium, indoors waterfalls and an Indoor genuine ice skating rink on the 5/F are still under decoration.
Overall Adjustment and Upgrading of Teem Plaza
Facing the impact from Grandview Plaza, Teem Plaza started its own inner adjustment in brands selecting and associates assembling as well as the overall reconstruction, doing their utmost to get ready for the competition. According to most of insiders, Grandview Plaza could be an engine of constant self-adjusting and development for the Tianhe Commercial Circle, adding up to its popularity and influence in Guangzhou and even within the country.
Exposition of Guangzhou Business Property
The Business Property Exposition of China (Guangzhou), 2004, is to be opened on Dec. 10. According to the holder of the exposition, everythingĄŻs ready and till Nov. 23 over 90% of the stalls have been preserved and the B Zone is already full; famous real estates like Grandview Plaza, Pearl River Real Estate, Li-Xun Enterprise, Fang-Yuan Group, TimeĄŻs Development Group, ect. Will take part in and the tribune guests are including director of the Business Property Union of China, chairman & president of Da-Lian Wan-Da group, president of Causeway Bay Group, chairman of Tai-Mao Plaza, the No. 1 Mall of Taiwan, director of Hong Kong Starry Light Broadway Management Ltd, general designer of Central Group, the No. 1 retailer of Thailand, ect.
Newsmen divulged that the merchants conference and the tribune of site-selecting are specially designed for the exposition, which will be held during Dec. 10 ~ 12, with 26 rounds of merchants conferences and site-selecting news release conferences.
Plenitudinous Supply for Business Property
As retailers flooding in and seizing on the market, many large-scaled business properties in Guangzhou are just on launch recently. For example, Grandview Plaza, the largest mall of the city, covering 4 million square meters, is also about to open. Besides, the May Flower Plaza, Guang-Ming Plaza and Ming-Sheng Plaza on Beijing Road are seeking associates and pushing their leasing business as well. Two commercial centers of Baiyuan District, the Commercial Street on Yuan-Jing Road and Bai-Xin Plaza in the New Town, are just put into service. And Tianhe Urban Plaza, the first large-scaled community mall is now seeking associates.
Moreover, the new residential communities in Dong-Pu and on the South China plate are going to be the key battlefields for varied brands. It is said that many real estate giants are planning to set up their projects of large scale on the South China plate.
Can We Match the Market?
In fact, many developers of business property now used to be handling housing originally. With little knowledge about the rules of business property market, they tend to follow the pattern of housing property development, which is more familiar to them, thus resulting in cases that some architectural designs fail matching the requirements of the merchantsĄŻ.
Numerous developers have not given considerations to what kind of business associates theyĄŻd like to cooperate with when they begin the project construction, so usually the original design of the area, layout, parking lot and some other facilities could not match the operatorsĄŻ needs.
Simultaneously, some developers point out that information from developers and operators are not complying with each other, for instance, some merchants have demands to lease while cannot find the suitable place they want.
According to the previous 3 quartersĄŻ Real Estate Market Analysis of GuangDong this year, the general number of empty properties began dropping, with the area on sales sharply falling, despite the fact that the market structure is still to be rationed. But it is concern-worthy that the number of empty business properties has increased by 22.9%, among which the unmarketable and backlog area got a 42.7% raise, higher than other property types.
To avoid the flat sales and emptiness, potential associatesĄŻ requirements need to be considered for the sake of a more reasonable and rational layout when one starts a project construction. If you intend to cooperate with a hypermarket, it will be necessary to make a careful proportion design as well as to take into considerations of the areas for storage and other supplementary use. Generally the maximum of permissible load for the ground should not be lower than 500kg, other floorsĄŻ not lower then 350kg, while goods elevatorĄŻs not lower than 2 metric tons.
