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Old October 5th, 2010, 05:29 PM   #421
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Office rental market in Puxi heats up
4 August 2010
Copyright 2010 China Daily Information Company. All Rights Reserved.

With the increasing supply of top office buildings in Puxi, the old town area of Shanghai, a war in the rentals market in the central area is brewing, analysts say.

Since April, the central government has launched a spade of bids to curb the heating property price. The office market in Shanghai rebounded while a wait-and-see atmosphere clouds the residential market, with three major office towers, Yueda889 Plaza, Wheelock Square and Centro Mansion, all situated in the downtown area of Puxi, coming into the limelight as a number of Fortune 500 Companies move in.

Yueda 889 Plaza, Wheelock Square and Centro Mansion, the "Big-three" office buildings in the central business district of Puxi Area, will debut at almost the same time this year, gradually forming a tripartite confrontation in the office rental market.

Yueda 889, an office tower rising from a luxuriously landscaped mall after the success of the Grand Gateway Plaza and Plaza 66, has begun its office rental services, in the wake of the grand opening of its attached shopping mall in late May. By now, such world-renowned overseas retail tycoons as NOVO concept, B+E (Austria), have opened their branches in Yueda889.

The building, situated on the Wanhangdu Road and Changshou Road intersection, serves as a top integrated complex with complete facilities for business, retail and recreation. It totals a ground floor area of 100,000 sq m, 50,000 of which is top office areas.

"Currently, Yueda889 is mainly accessible to whole-storey leasers, in attempt to maintain its management quality," said a manager with Yueda889. The plan receives vibrant market response, as the renowned companies both at home and abroad like retail tycoon Novo and B+E (Austrian) have all rented a whole storey. Currently the rental price for a storey of Yueda 889 is 4.5 - 6.5 yuan (66-96 cents) per square meter per day.

Located in the Jing'an district, Wheelock Square, with a construction area of more than 100,000 square meters, has recorded many lease contracts, including some big-names such as Toshiba and Shiseido. And Centro Mansion, another 22-storey commercial complex, is situated in Huangpu district. Henderson Land acquired the site with 1.4 billion yuan in 2007. Its 36,000 square meter office tower will enter the market in the middle of 2010.

In the observation of insiders, the prospects of office buildings in Puxi Area are turning better. The delayed completion of Wheelock square and Shanghai International Commerce Centre, reduces supply and in turn pushes up the occupancy rate of grade A office place. Recently, the Puxi proprietor received an increasing number of inquiries for rentals. The property owners are becoming much more optimistic over the market in light of the falling vacancy rate.
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Old October 7th, 2010, 09:45 PM   #422
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Originally Posted by hkskyline View Post
It's actually quite a fat building!
is not "fat" is "big boned"
After Monday and Tuesday even the calendar says W T F...
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Old October 8th, 2010, 09:55 AM   #423
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i don't think it's 298m, must be shorter.
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Old October 8th, 2010, 12:58 PM   #424
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What's the other building going up in the centre of this picture? Anyone have any info or a link to a thread?

Originally Posted by Wuhy_9 View Post
I took these pics in Sept 6th

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Old November 8th, 2010, 06:16 PM   #425
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Originally Posted by hkskyline View Post
HK developers are heading north
8 November 2010
South China Morning Post

The tale of two cities and the varying fortunes of their office sectors continues unabated, with Hong Kong developers laying a stake in prime business districts across the border.

While the government and legislators in Hong Kong deliberate over whether to increase the amount of office space in Central, or let companies find new locations on the east of the island or in Kowloon, the city's developers are reaching for the sky in Shanghai.

The latest addition to the skyline of the mainland's financial capital is Wheelock Square in Puxi's Nanjing Road West. It is also the tallest premium grade-A office tower in Puxi and the brainchild of The Wharf (Holdings), whose portfolio includes Times Square in Causeway Bay and Harbour City on the Tsim Sha Tsui waterfront.

Wharf says its new 270-metre, 61-storey tower is the only top-grade office building opened in Shanghai this year. Multinational companies that have committed to take up space at Wheelock Square include Bristol-Myers Squibb, Mitsui, Shiseido, Coach, LG Chem, Conde Nast, Clarkson Asia, NBBJ, Sheppard Mullin and Poly Plastics, and Industrial and Commercial Bank of China. Four of these companies are each taking a whole floor, and a pharmaceutical company has acquired three floors (6,400 square metres).

Kohn Pedersen Fox Architects, the New York firm behind West Kowloon's ICC Tower, designed Wheelock Square which, in addition to 50 office floors, has four storeys of high-end retail stores and two floors featuring food and beverage outlets.

"It will further enhance Shanghai's dynamic skyline and redefine the landscape of this vibrant business district," says Dave Siu, general manager, estates management, Shanghai, of Wharf China Estates. The tower was completed in the second quarter of this year.

"The significant investment we have made in this landmark commercial building reaffirms our confidence in the business opportunities that exist in Shanghai, and across China."

Features include ceilings which Wharf says are the highest of any modern office tower in Shanghai, extending to 3.05 metres, and high-specification floor plates stretching to 2,100 square metres. There is a nine-metre-high marble lobby and direct-access elevator system, with 23 high-speed passenger lifts plus a VIP lift. Disabled facilities and pantries are also provided on every floor.

Serviced office providers have also been getting a foothold in Shanghai, as international business swings towards the city.

It seems, according to this report, that the tower is 270m not 298m and 61 floors not 58 floors. I always thought it didn't look tall enough to be almost 300m...
Also in the article is some technical info about the building.
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Old November 23rd, 2010, 05:12 AM   #426
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Old January 27th, 2011, 01:51 AM   #427
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Photo's by the amazing Andrew Rochfort

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Last edited by djm160190; January 27th, 2011 at 01:53 AM. Reason: used the wrong brackets
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Old January 27th, 2011, 11:01 AM   #428
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By rex8848

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I love Beijing TiananMen, Rising Sun upon it.
I love Beijing ChaoyangMen, Rising Skyscrapers beyond it!

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