The opening of the Light Rail No 1 Line in Wuhan in July last year is expected to speed the development of the city's new riverside business district by the Yangtze River, which is now directly connected to the downtown area of Hankou.
A key part of the riverside business district is the Corporate Zone of Wuhan Tiandi developed by Shui On Land, a mixed-use development comprising residential, office, hotel, retail and food and beverage and entertainment facilities.
Upon completion, the Wuhan Tiandi's Corporate Zone will have a gross floor area of 500,000 square metres and feature grade A offices, a 5-star hotel and high-end department stores.
Construction of phases one to three of Wuhan Tiandi's Commercial A4 Parcel of the Corporate Zone has been completed offering retail space with a gross floor area of 57,000 square metres and 25,000 square metres of underground car parking. A spokesman for Shui On Land says 91.4 per cent of the retail space in Commercial Parcel A4 has already been leased.
The Corporate Centre No 5 at Wuhan Tiandi became available for leasing in May. The 30-storey grade A office building has a gross floor area of 59,000 square metres.
Another Hong Kong real estate developer, New World Development, has also been active in developing commercial and residential projects in Wuhan. Its subsidiary New World China Land has several grade A office buildings in Hankou.
Situated on Jiangshe Avenue, the 57-storey New World International Trade Tower is a grade A office building featuring a floor plate of 2,400 square metres. Occupancy at the tower is 99 per cent, according to a spokesman for New World China Land. 'Many renowned international companies are the tenants of New World International Trade Tower,' he says. 'They are mainly in manufacturing and financial sectors. Some embassies and government agencies are also located in the building.'
New World China Land plans to upgrade and modernise the facilities and fittings in the public areas, and the overall property management services of New World International Trade Tower, the spokesman adds.
The Wuhan New World Centre Office Towers A and B are located on Jiefang Road in Hankou. Both 25-storey towers have an occupancy rate of 99 per cent, says the spokesman for New World. 'Some leading international companies lease offices in the New World Centre.'
The mixed-use development of Wuhan Tiandi is a key part of the riverside business district.