Developer sets new trends for the retail and hospitality scene in mainland China

Changsha, the capital of Hunan province, has emerged as a leading economic and technological hub, with new developments that are helping to shape its transformation as a centre for commerce and lifestyle.

Changsha International Finance Square (IFS) is conspicuous as the tallest building on the city’s horizon and the latest addition to its skyline. The mixed-use development opened in 2018, comprising two skyscrapers that tower 93 floors over the city, connected to over 2 million sq ft of retail space. The development is comparable in scale and dominance to Harbour City in Kowloon’s Tsim Sha Tsui.

Changsha IFS is in the Furong district, the city’s political, economic and cultural heart. In the three years since it opened, the development has not only become a destination for coveted international brands making their debut in central China, but also a meeting point for locals and for people visiting from other parts of the province.

Changsha IFS was built on a site previously occupied by dilapidated houses and small, family-run shops. The retail scene was fragmented and lacked a sense of community back then, according to Wharf, the developer behind the project.

Wharf says more than 70 per cent of the brands at Changsha IFS did not have a presence in the city when pre-leasing started in 2013. Today, adds the developer, more than 100 brands have launched in Hunan at Changsha IFS, demonstrating their confidence in the development’s potential to cater to a rising middle class.

Apple is the latest international brand to debut in central China, opening in the Changsha IFS development in September. The store’s all-glass façade changes from translucent to opaque as the day progresses and is the first Apple outlet globally to feature the hi-tech design.