Tag Archives: Shenzhen Bay

ZTE to cash out of Shenzhen property

Shenzhen-based telecom-equipment giant ZTE Corp is cashing out of its property assets in a creative way to address a liquidity crunch after the US$1.4 billion fine imposed last year by the US, reports Caixin Global.

ZTE acquired the land use rights of a plot in Shenzhen Bay Super Headquarters Base for RMB3.54 billion in 2017. It has reached an agreement with Shenzhen-based developer Vanke to develop it into a commercial complex as its new headquarters. Much of this land, however, is non-transferable according to the terms of the land acquisition. Where there is a will there is a way, however, and so ZTE has reportedly signed a supplementary agreement with Vanke to grant it more operational rights; in return, Vanke has agreed to bear all the costs for development and construction. 

Continue reading ZTE to cash out of Shenzhen property

Shenzhen Bay Super HQ takes shape

The Shenzhen Bay Super Headquarter Base, a zone along the city’s northern coast that is being masterplanned way, way, way into the future, has unveiled its initial designs. According to the Southern Metropolis Daily, the area will be landmarked by three iconic towers, which will serve to pull in all of the city’s leading companies.

Imagine that: three buildings where every major company in the city will have their headquarters.

The project covers an area of 117 hectares. Since its announcement in 2014, companies that have invested in land purchases there include CITIC Securities, China Merchants Bank, ZTE, Digital China, Evergrande, and Vanke.

The design plan integrated the three winning bids during an international consultation process last year which attracted architects from 76 domestic and overseas design agencies. In addition to the office space, the project will also provide conference facilities and cultural venues. Designers explains that the project will integrate the atmosphere of Shenzhen Bay with an active urban environment, like Sydney, Singapore, or Copenhagen.

Read more (in Chinese).