On July 22, Baishizhou Urban Renewal Project, the largest, the most anticipated, and the most representative urban renewal project in Shenzhen, ushered in a significant breakthrough. Its sales halls and the Phase I sample units have been opened to the public with a grand opening ceremony, the Company’s core management group attended the ceremony and delivered speeches.
On that day, the hall attracted a large number of visitors. According to statistics, there were 2,000 visits on the day of the event, and even as many as 5,000 visits on July 22 and 23. Such popularity demonstrates the residents’ affirmation of this project’s location, supporting facilities, products and brand.
According to exhibition and marketing Center, Baishizhou Urban Renewal Project, located on Shennan Avenue in Nanshan District, Shenzhen City, is adjacent to Science Park and the sub-district of Overseas Chinese Town, and surrounded by core areas such as the Shenzhen Bay Super Headquarters Base, Houhai Headquarters Base and Shekou-Qianhai Free Trade Zone. Nanshan District, where Baishizhou project is located, is known as the “Silicon Valley of China” due to the gathering of a large number of high-tech enterprises there. The concentration of high-tech enterprises and increasing population flow provide stable demand for housing and rental market for Baishizhou Urban Renewal Project, endowing this project with obvious resilient nature.
It is reported that with a total planned gross floor area of approximately 5 million square meters and a capacity gross floor area of approximately 3.58 million square meters, the Baishizhou Project is expected to be completed in four phases within the next eight to ten years. As the saleable residential project of the first phase of the project, LVGEM Jing Ting occupies a total gross floor area of 675,800 square meters, with three 74F super high-rise residential buildings (1,257 units) and two apartment buildings (1,489 units). The buildings are divided into high and low zones with different layout designs and elevators. Properties in low zone have three kinds of layout with floor areas of 110, 118 and 125 square meters (with three bedrooms), and properties in high zone also have four-bedroom layout with a floor area of 187 square meters. Various layouts are practical to satisfy improved demand.
Meanwhile, the sales representative of the sales centre introduced the development and construction concept of Baishizhou Project. On one hand, fully considering the characteristics and market demand of large-scale urban renewal like Shenzhen, the Company has integrated all the elements of urban complexes to create an all-round living circle for residents covering various aspects, including business offices, culture and education, leisure and entertainment and community services; on the other hand, as for Baishizhou Urban Renewal Project, a super-high-rise building, LVGEM (China) aims to solve the problem of living comfort brought by the plot ratio. Aiming to build a three-dimensional city, the Company will, in the long-term planning, build a 50-meter-high sky corridor, rooftop gardens, commercial corridors, and a central green axis, which will skillfully connect different areas and form an organic urban space layout; the underground level is planned with an underground slow-moving system and an underground vehicle network to improve the traffic flow and provide residents with a more convenient way of traveling, and to avoid traffic congestion and safety hazards on ground and improve the living comfort.
In addition, the sales centre of Baishizhou Project displayed the smart operation and management platform tailored for the project. Through the large electronic screen in the hall, the operation of the entire project can be visualized in an all-round way, covering a variety of aspects such as community services, commercial services, corporate services, smart transportation, smart safety systems, smart travelling and energy consumption management.
It is reported that LVGEM (China), together with Huawei, China Unicom, Shanghai Municipal Engineering Design Institute (SMEDI) , and Shenzhen Urban Traffic Planning and Design Research Center, jointly planned the “151 blueprint” of the smart Baishizhou, focusing on the three major systems of smart urban regions, smart communities and smart family. The plan covers more than 120 core scenarios. Taking the living scenarios as an example, residents can call the elevator in advance through the APP at anytime and anywhere to avoid a long wait. All these detailed designs demonstrate LVGEM (China)’s commitment to creating a smart, green and high-quality environment for households.
With reference to the surrounding new housing in recent years for the record, the average price of Shum Yip Hetangling Garden recorded approximately RMB110,500 per square meter, the Phase Ⅲ of New Swan Castle approximately RMB125,000 per square meter, the Phase Ⅰ and Phase Ⅱ of China Resources City Runxi approximately RMB132,000 per square meter. If calculated in accordance with the average price of RMB120,000 per square meter, the project is expected to record a saleable value of nearly RMB40 billion. Once the Phase Ⅰ of the project enters the market, it will bring a lot of money back to LVGEM, and the Company’s scale and profit will usher in a leapfrog growth. Meanwhile, against the backdrop of the market’s concern over cash flow disruptions of real estate companies, LVGEM will be secured.
With the Baishizhou Project officially entering into the market, LVGEM, as a professional developer in the urban renewal segment, will be extensively recognized by the market for its strong brand influence and rich development experience. It is worth mentioning that the executive meeting of the State Council of People’s Republic of China examined and approved the ‘Guiding Opinions on Actively and Steadily Promoting the Renewal of Urban Villages in Megalopolises and Megacities’, which pointed out that the active and steady implementation of urban renewal in megalopolises and megacities was an important initiative to improve people’s livelihoods, expand domestic demand, and promote the high-quality development of cities. Supported by the new policy, urban renewal as a real estate segment will usher in new development opportunities, and LVGEM (China) will further consolidate its leading position in urban renewal.
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