Beijing old sites and buildings are now funky hotels and offices as land use control tightens
The conversion pace has accelerated with the government’s halt in offering new sites extending from the city centre to the fourth ring road
An increasing number of old rundown sites in Beijing’s downtown and tourist areas is being converted into brand-new hotels and co-working spaces to meet consumer demand amid the lack of new development lots under the city’s stringent control of land use.
Vue Hotel, on the edge of lake Houhai, is one of the latest examples.
The boutique hotel was transformed from an insipid state-owned hotel, with the aim to marry Chinese traditional courtyard flavour with 21st century modernity.
“What we want to do is to provide an authentic, high-class experience that combines the best traditional Chinese culture and world-class services,” said the hotel’s owner representative Andy Mok.
In Beijing, transforming old and historical sites into modern offices, restaurants and hotels is nothing new, but the pace has accelerated because of the government’s halt in providing new sites extending from the city centre to the fourth ring road. The fourth ring road has an eight kilometre radius from the city centre.
“Under the Beijing development plan 2016-2035, new commercial real estate projects are not allowed in the downtown area. So there is really a strong interest in acquiring old sites and developing them into new properties, with offices topping the demand,” said Zhang Ping, executive director of International Federation of Finance & Real Estate.