The Greater Bay Area’s long-running boom in commercial real estate is set to continue and expand beyond the main hubs of Shenzhen and Guangzhou, according to a latest report by international consultancy JLL.
This is despite a surge in supply coming onto the market, especially in Shenzhen, where the Grade A office market is expected to almost double, from around 7 million sqm this year to 14 million sqm over the next five years, according to JLL.
The bulk of cross-border real estate investments in the region to date have largely been restricted to Hong Kong, Guangzhou and Shenzhen. These three attracted 85% percent of the total since 2009, JLL says. However, the maturing of investments into the region’s transportation infrastructure will spread this flow to a wider catchment area going forward.
Evergrande Group, China’s largest developer, has won two residential plots at a government auction in Guangzhou for a total of RMB5.7 billion. The two parcels are less than one kilometer from the industrial site Evergrande acquired in April to build its base for new energy vehicles.
Covering an area of 51,000 square meters, the two parcels are located inside Guangzhou Nansha’s Bonded Port, which is planned for the development of a comprehensive service sector and advanced manufacturing.
Evergrande is required by the local government to build talent apartments on the plots, including a 30-class primary school and a 18-class kindergarten. Upon their completion, the talent apartments will be resold to the organization units designated by Nanshan Development Zone Administrative Committee at the price of RMB3500 per square meter.
Guangzhou has released a three-year action plan to accelerate the development of 5G, which is faster than even Shenzhen’s. By the end of the year, the provincial capital will have 20,000 base stations working, covering most of the city’s key business hubs. That compares to Shenzhen’s planned 8,500 base stations by the end of this year. Moreover, Guangzhou has set a three-year target of 65,000 base stations, compared to 45,000 in Shenzhen.
The differences are largely due to their respective geographic size – Shenzhen squeezes its 13 million residents into a smaller space than Guangzhou does with its 14 million. Both will ensure “comprehensive coverage” across their urban areas by 2021.
Continue reading Guangzhou unveils 3-year 5G plan
Sadly, in the financial markets, there is little room for sentiment. While Hong Kong struggles to get its airport back into smooth operation after days of chaos caused by protesters, investors have been pumping up the shares of regional competitors likely to gain from an overflow of demand.
Continue reading HK airport woes focus attention on regional rivals
Visionox Technology, a major Jiangsu-based developer of organic light-emitting diodes, plans to build a sixth-generation flexible active-matrix OLED(AMOLED)factory in Guangzhou’s Zengcheng Economic and Technological development zone, reports Yicai Global.The project with a total investment of RMB11.2 billion will focus on researching, developing, producing and selling various high-end AMOLED modules.
Continue reading Guangzhou gets big AMOLED plant
The special economic zone on the southern tip of Guangzhou is experimenting with some bold, innovative reforms. From the farmlands of Hengli Island, a new financial powerhouse is rising.
Continue reading World Financial Island rises in Nansha’s Hengli
The Greater Bay Area feels today like the thermostat was turned up to max. Actually, for most of the year, it’s best to get out of the sun in this region. But now, there is an alternative to going shopping or, better yet, getting on a plane: Guangzhou has an indoor park featuring all sorts of winter-wonderland attractions and activities.
Continue reading Chill out in Guangzhou’s Sunac Indoor Snow Park
Taiwanese billionaire Terry Gou, founder of the world’s biggest OEM supplier, Foxconn, has a lot on his plate. His biggest customer, Apple, has seen its smartphone share plunge in China, and he’s been making a public fuss about entering the presidential race back home. Still, headlines today suggesting that he wants to sell out of his biggest investment to date, a new RMB 60 billion factory in Guangzhou, within days of it opening, are undoubtedly turning heads in the provincial capital.
Continue reading Foxconn boss changes mind on Guangzhou LCD plant
Workaholics in the provincial capital who can never find enough time to shop, or dine, or drink as much as their friends do are about to run out of excuses. The city’s Commerce Bureau has released a “Guangzhou nighttime economy map” that lists 15 commercial clusters as landmarks of “Guangzhou by Night”. This, it says, is a blueprint for the city’s plans to “enrich and expand nighttime consumption options” and develop Guangzhou into a “sleepless city” in the Greater Bay Area.
Continue reading Guangzhou focuses on nightlife
When it comes to urban mobility, most people think of ride-sharing, whether it be by cars, bikes or, increasingly, scooters. However, advances in electric propulsion, autonomous flight technology and 5G communication will soon see the skies alive with machines that can carry things and people.
Continue reading Ehang unveils plans for Urban Air Mobility Pilot City