Numerous upscale residential and commercial projects have taken shape in Zhengzhou's property market
Upscale commercial and residential developments have taken shape around the city, writesWilson Lau
The central government's accelerated urbanisation drive has reinvigorated the real estate market in Zhengzhou, where many residential and commercial projects have been launched recently.
Projects with convenient access to the Zhengdong New District have become increasingly appealing to upscale home buyers and businesses in Zhengzhou. In the city's northeast, Zhengdong is the new economic and cultural centre, and home to the regional headquarters of many state-owned enterprises and multinational corporations, as well as exclusive residential communities.
Leading property developer Central China Real Estate (CCRE) has made great efforts in land acquisition and stepped up the pace of its real estate development in the city, unveiling several upscale residential and commercial developments in the second half of 2015.
CCRE's Sky Mansion Phase Two caters to the demand for upmarket housing near the central business district (CBD) and new municipal offices of Zhengdong. Occupying an extensive green area totalling 86,670 square metres, Sky Mansion's gross construction area reaches 430,000 square metres.
The development features 10 high-rise residential blocks, a separate clubhouse and a stand-alone greenhouse. To maximise natural light and the views of the surrounding landscaped garden in individual units, the distance between the residential blocks is around 110 metres.
Sky Mansion occupies a highly coveted location adjacent to the Dongfeng South Road and Shangding Road. One kilometre to the north is Jinshui East Road, the main commercial artery of Zhengzhou. Situated in a 3km radius are the CBD, municipal government and the Zhengzhou Metro. The project has direct access to Metro lines 1 and 5. It is also in the catchment area of many kindergartens, primary and secondary schools, and hospitals.
CCRE also offers Pingyuan City, a 573,330-square-metre low-density residential development. Upon completion, the total construction area will exceed 760,000 square metres. Located at the juncture of Pingyuan Avenue and Zhengxin Avenue, Pingyuan City is approximately a 20-minute ride to the Zhengdong CBD. It is close to some ecologically rich and diverse areas, including the 1.2 million-square-metre Fenghu Park and the Zhengzhou Yellow River National Wetland Park.
A "Southern Californian resort" style has been adopted for the landscaping and overall architectural design of Pingyuan City, CCRE says. Units in the first two phases have been on the market, occupying an area of 192,000 square metres with a gross construction area of 336,000 square metres.
Advanced technology for security and comfort has been incorporated into the upscale housing project, including an integrated digital fingerprint identification system, fresh air filtration system and extensive Wi-fi connectivity. CCRE also provides "butler-style" management services for Pingyuan City.
CCRE has also started leasing offices in its Triumph Plaza in the Jinshui CBD, the core of Zhengzhou's Garden Road commercial district. Triumph Plaza is located at the juncture of Garden Road and Nongke Road, with nearby landmarks including the Zhengzhou ITC 360 Plaza, Zhengzhou Dennis Department Store, and Nongke Road Pub Street, as well as several upscale residential developments.
On top of a station along Metro Line 2, Triumph Plaza occupies an area of 34,175 square metres, with gross construction area exceeding 270,000 square metres. The complex consists of a 50,000-square-metre shopping centre, twin grade-A office towers with a combined office space of 130,000 square metres, and street-level shops totalling 23,000 square metres.
Optimistic about the retail sales in Zhengzhou, Taubman Asia, a subsidiary of US-headquartered mall developer Taubman Centers Inc, will unveil CityOn.Zhengzhou in late 2016. The mall is strategically located in the heart of Zhengdong New District at Nongye Road and Zhongyi West Road, two main arteries of Zhengzhou, meaning it will have convenient access to downtown and nearby cities.
CityOn.Zhengzhou is a collaborative project between Taubman Asia and the renowned Wangfujing Department Store headquartered in Beijing. Wangfujing will be the anchor tenant of the mall. With a leasable area exceeding 1 million square metres, CityOn.Zhengzhou will also feature a mix of up to 200 accessible and progressive international and local fashion labels, as well as a number of unique, first-to-market brands. Together with restaurants, a supermarket, and entertainment options, this will become a new landmark in the heart of the Zhengdong CBD.