Advertisement
China property
PropertyHong Kong & China

From furniture store to co-working space: the transformation of a Beijing shopping centre

The Cofco Plaza has seen its value rise and rental income more than quadruple after its conversion

2-MIN READ2-MIN
Section-C of the Cofco Plaza in Beijing. The block used to be a retail space for furniture, but has been redeveloped into a hi-tech co-working zone which has its own app for staff. Photo: Simon Song
Zheng Yangpengin Beijing

For those familiar with Beijing’s recent history, the Cofco Plaza on Jianguomennei Avenue occupies an important place on the city’s cultural map.

Home to one of the earliest Starbucks in China – which is still in operation – it was a favourite haunt of one of China’s internet pioneers, Charles Zhang, the founder and chairman of Sohu Inc, giving it a prominent place in the rise of China’s internet industry.

Eighteen years on, one part of the plaza that used to be a luxury furniture retail areahas been overhauled, and once again finds itself at the forefront of technology. The renamed Section-C now has 36,000 square metres of office space, including 10,000 square metres of co-working space built from scratch and managed in-house and which comes with a cafeteria area called Cofco Life.
Advertisement

It also has its own digital management system, called COFFICE, that allows staff to access all its facilities from just one app.

“We invested more money but we get higher rent, not only for Section-C, but also for the A and B sections”, said the plaza’s general manager, Sun Tianli, adding that 15 per cent of the space is for public use, compared with 8 to 14 per cent in a typical office development.

Advertisement

“We have hosted about 200 visiting delegations from other companies, and what interested them most was the COFFICE system,” he said.

Advertisement
Select Voice
Select Speed
1.00x