THE sale of Golden Plaza in Dalian could help to ease the shortage of office space in the city, which leaders want to develop into the 'Hong Kong of the North'.
The official Dalian Real Estate Developing and Managing Office said there had been heavy demand for office space in the past two years, prompted by interest from foreign investors.
Developed by Dalian Jinzuo Estate Development Co, the 180-metre high Golden Plaza is being built on a 92,914 square foot site.
The 46-storey development with three basement levels has total floor space of 1.6 million sq ft.
It comprises a five-star hotel, office space and office-apartment units, in addition to a five-storey retail podium.
Vigers senior marketing executive Lau Tung said about 20 per cent of the space would be offered in the first phase of sales.
Average prices for office space will be $1,100 per sq ft, with $1,000 per sq ft for apartments and $3,500 per sq ft for retail space.
From levels six to 29, each floor contains about 15,069 sq ft of Grade A office space in sizes starting from 925 sq ft.
There is a central computer system and a commercial satellite reception network.
Levels 31 to 42 are designed for deluxe office accommodation. Each floor totals 10,764 sq ft, with sizes starting from 3,681 sq ft.
Partitioning and decoration are according to the client's specifications.
The building has a number of floors designed for both commercial and residential applications.
Floors eight to 46 have four to eight office-apartment units on each floor, with each ranging in size from 1,426 sq ft to 3,802 sq ft.
There will also be six levels of retail and recreational facilities, covering 271,586 sq ft of gross floor area.
For the phase one sale, 10 floors, from levels eight to 18, will be offered - four to buyers from the territory and four to buyers in Dalian. Each floor can be bought in whole or in part.
The remaining two floors will be sold in their entirety to buyers from either Hong Kong or Dalian. Apartments on those floors, in addition to those on the 33rd and 34th floors, will also be offered in the phase one sale, along with about a third of the total retail space.
The Dalian branch of the People's Construction Bank of China will provide 60 per cent mortgages to buyers.
A deluxe five-star hotel will also be incorporated into the Golden Plaza complex.
The development is scheduled for completion at the end of next year.
Golden Plaza, on busy Tianjin Street, is opposite the Holiday Inn Hotel and alongside Dalian railway station. Local government administrative offices are nearby. The area is well served by shops, hotels, shopping malls, restaurants and banks. Dalian International Airport is a 20-minute drive away and Dalian Port is five minutes away. About 20 bus line services, trams and mini-buses link the development with the rest of the city.
DEVELOPMENT: Golden Plaza, a office, commercial, residential and hotel development in Dalian. DEVELOPER: Dalian Jinzuo Estate Development Co. SIZE OF OFFICE: 925 sq ft to 15,069 sq ft. SIZE OF APARTMENTS: 1,426 to 3,802 sq ft. AVERAGE PRICE: HK$1,100 per sq ft for office, $1,000 per sq ft for apartments and $3,500 per sq ft for retail space TOTAL FLOOR AREA OF DEVELOPMENT: 1.6 million sq ft COMPLETION DATE: end of 1996 LAND USE RIGHT PERIOD: 50 years SOLE SALES AGENT: Vigers International Property Consultants. PROPERTY MANAGEMENT AGENT: Vigers China PAYMENT SCHEMES: Cash payment comes with a 10 per cent discount. People's Construction Bank of China, Dalian branch provides a 60 per cent mortgage for purchases in Dalian