2024.11.01

Shanghai has another luxury residential land parcel announced its owner. Two diamond-grade land parcels in Huangpu District, Xintiandi & Jiefang地块, have been awarded to the consortium of Singapore's City Developments Limited and Xiamen Lianfa. On the day of the month, the Shanghai Land Market issued an announcement, disclosing the implementation entities for the historical and cultural preservation projects of the Huangpu District Unit -, - land parcels and the underground space of Ji'an Road (part). The implementation entities are the consortium of Chenghong (Shanghai) Investment Co., Ltd. and Shanghai Lianzhi Future Real Estate Development Co., Ltd.

According to the previously announced information on the candidates for the implementation subject, the candidates' price bid scores range from 1.2 billion to 1.5 billion yuan; roughly calculating based on the total floor area of the project's above-ground buildings, which is approximately 1.2 million square meters, the average floor price would be between 10,000 and 12,500 yuan per square meter.

(Approximate location of the plot)

The project includes two plots in the neighborhood, located in the central part of Huangpu District, to the east of Huaihai Middle Road Sub-district, close to the Laoximen Sub-district and Yuyuan Sub-district, adjacent to Shanghai Xintiandi, and near the Laoximen Station of Metro Line and major urban roads, offering convenient transportation and significant locational advantages. Among them, Plot - is a mixed-use commercial and residential land, with a commercial proportion of no less than % and a residential proportion of no more than %; Plot - is designated for residential use and related supporting facilities. Overall, the total residential floor area above ground for both plots does not exceed 100,000 square meters, and the commercial floor area is no less than 30,000 square meters.

At the same time, the selected plot is a protected block of Shanghai's architectural heritage. According to the relevant construction requirements, the scale of protection and renewal within the plot is no less than . million square meters. The construction requirements for this project are quite high. Overall, the design of the plot must meet the development goals of creating a world-class elegant fashion commercial district and an internationally top-tier central activity zone within the Huaihai Road-Xintiandi functional group.

In terms of residential living, the plot requirements are based on the existing high-quality residential communities in the Xintiandi area, integrating and harmonizing the unique characteristics of the plot's style and texture. The residential products have a clear positioning, aiming to create diverse and high-quality residential products. The project is adjacent to two well-known luxury residential projects in Shanghai: Phase 6 of the Green Lake World and the Zhonghai Shunchang Jiuli, Hengchang Jiuli.

Both luxury residential projects mentioned above achieved quite remarkable results this year. On a certain date, Phase VI of the Green Lake World project was launched, with a unit price of 200,000 yuan/square meter, an average total price per unit close to 100 million yuan, and a total of 110 units were subscribed by approximately 700 groups of customers, triggering a points system, ultimately achieving a "sell-out" on the same day, collecting 1.1 billion yuan in revenue. In a certain month, the Zhonghai Shunchang Jiuli project was launched, with an average sales price of 100,000 yuan/square meter, an average unit value of approximately 10 million yuan, and over 100 units created sales of 1.1 billion yuan, setting a new national record for opening sales; at the end of the month, 110 style villas within the project were put on the market, with a unit price as high as 200,000 yuan/square meter, setting a new historical high for new home prices in Shanghai, and then twice more were pushed to the market, with a total of 110 style villas sold.

Located in one of the most mature areas of Shanghai's city center, surrounded by such two projects, the future development of this block will also be high-end residential projects. Some industry insiders believe that with the planning of numerous land plots now finalized, the luxury housing blueprint of Xintiandi is gradually taking shape, and new projects within the area are expected to continuously break records in the luxury housing market.

Singapore Hong Leong Group, which has secured the project, also boasts extensive experience in luxury residential development. Founded in the year, the Singapore Hong Leong Group, under the leadership of Chinese entrepreneur Kwek Leng Beng, spans core businesses across the Asia-Pacific region, including China, the Middle East, Europe, and North America. Its scope encompasses real estate investment and development, hotel ownership and management, financial services, trade, and industry. The group's subsidiary, City Developments Limited, is one of the major players in the Singapore real estate industry, having developed numerous top-tier luxury residential projects in Singapore. Its business extends across 100 countries and regions, 100 cities, with a total area of over 100 million square feet in residential leasing, commercial, and hotel assets.

The projects currently under development in Shanghai include the Yuhu Perfume Bay Villas, Hongqiao Centre by City Developments Limited, and City Plaza. It is worth noting that in a certain month and year, Kuok Lian Neo visited Shanghai and expressed plans to increase investment, strengthen cooperation with Shanghai in urban renewal, and create more iconic projects.

In addition, the United Development Group, which forms a consortium with Hong Leong Group, is a core enterprise under Xiamen State-owned Jianguo Group, specializing in real estate development and consistently ranking among China's Top 100 Real Estate Enterprises for consecutive years.