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Singapore-based property developer GuocoLand announced on Tuesday (6 Nov) that it has started building a massive mixed-use project at Changfeng in Putuo District, Shanghai.
Dubbed Guoco Changfeng City (pictured), the integrated development will have an overall gross floor area of about 2.1 million sq ft. It will consist of two 18-storey Grade A office towers and two low-rise office blocks designed with high specifications. There will also be a retail, entertainment and cultural centre that will offer dining and lifestyle options to those living and working in the area.
While the company did not reveal how much it has invested in the mega project, its annual report for 2017 said that Guoco Changfeng City will have a potential gross development value (GDV) of around 6 billion yuan (approx. S$1.19 billion).
Targeted to be completed by 2021, the project sited next to Changfeng Park will have a direct link to a future metro station along Metro Line 15, which is expected to be ready by 2020.
The area is already well-served by public transport networks and major roads that let people travel to important areas in the city like People’s Square, Nanjing West Road, Hongqiao Transportation Hub and Shanghai Disneyland.
But when the Shanghai North Cross Passage expressway is completed by 2019, Guoco Changfeng City’s accessibility is expected to improve further as the expressway’s entrance is situated about 1km from the project and the road acts as a second link for west and east Shanghai.
Moreover, Guoco Changfeng City is the first commercial project in Shanghai’s Putuo District designed to meet the Leadership in Energy and Environmental Design (LEED) Platinum Precertification by the US Green Building Council. It is also the first commercial project in Shanghai to qualify for a WELL Gold Certification, a standard that takes into account the health and well-being of the building’s occupants.
The project’s eco-friendly and wellness features include solar panels on the roof top, shower facilities on every office level, highly-efficient water and lighting systems, electrical floor heating at the office ground floor lobby, and floor plate depth of up to 13m to let natural light in.
There will also be smart features like an intelligent car parking system, an intelligent toilet housekeeping system, and solar-powered outdoor charging stations for portable devices.
“We are pleased to commemorate the start of construction of Guoco Changfeng City, the final phase of our long development history in the Changfeng area,” said Raymond Choong, Group President and CEO of GuocoLand.
“We have leveraged on our development expertise to create a high quality, innovative and people-centric development which will meet the evolving demands of corporate tenants and their young workforce, and will enhance the attractiveness of Changfeng as a new, vibrant business district.”
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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