Shanghai developer focuses on ‘customer experience’ in mixed-use retailing

Henry Cheng Bing-chark, chief executive and co-founder of Shanghai-based Chongbang Group, believes mixed-use retail spaces will play a bigger role in meeting the shifting preferences of mainland consumers.

Drawing on a diverse real estate development background in China, Cheng envisions the continuing development of retailing based on leisure and social interaction in bringing shoppers out to the mall.

“We believe shopping malls should be an extension of the home,” he said. “Our focus at Chongbang is the customer experience, rather than just consumption.”

Cheng founded the company in 2003, with the help of investors from Hong Kong and Singapore, to focus on the development of mixed-use projects oriented towards retailing. He said the new retail concept became popular in Shanghai around 2000.

Cheng worked previously for Hong Kong-listed Shui On Land where he helped oversee the development of the Xintiandi entertainment district in Shanghai, a fusion of retailing, office and entertainment amenities.

His two decades with Shui On included roles spanning building material production and project management.

“I learned from the Xintiandi project that there is a market in Shanghai for open-plan retail and lifestyle related facilities,” he said.