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Logistics Park Transformation and Upgrading Business

BusinessLogistics BusinessLogistics Park Transformation and Upgrading Business

SZI Logistics Hubs Logistics Service Business Logistics Park Transformation and Upgrading Business

The Group firmly seizes the historic opportunity arising from the urbanization process in the PRC, vigorously promotes the transformation and upgrading of its logistics park projects located in key urban centers, and implements the long closed-loop “Investment, Construction, Operation and Transformation” development model in logistics park through the adjustment of the land use, upgrading, transformation, development and operation of its logistics park projects. Logistics park transformation and upgrading projects maximize the value of relevant assets. The investment income provides long-term support to the Group’s business development and financial performance, and generates considerable returns for the Company’s shareholders.


Qianhai Project


The Qianhai Project represents the first successful project under the long closed-loop “Investment, Construction, Operation and Transformation” development model implemented by the Group. By way of land consolidation and preparation in Qianhai, the Group obtained compensation equivalent to approximately RMB8,373 million through the swap of land with a total site area of approximately 120,000 square meters and a total gross floor area of approximately 390,000 square meters (comprising saleable residential area of approximately 190,000 square meters and saleable apartment area of approximately 25,000 square meters) under new land planning conditions. The gain from appreciation of land value represents the initial benefit of the land consolidation and preparation in Qianhai. As the swapped land parcels are being developed gradually and following the release of completed properties into the market, the project continues to unlock value from its development in a few years, which in turn is expected to provide a steady support in the growth of the Group’s financial performance.


The first phase of the Qianhai Project has a total gross floor area of approximately 110,000 square meters, comprising residential area of approximately 51,000 square meters, office area of approximately 35,000 square meters and commercial area of approximately 25,000 square meters. In the first half of 2022, the office project, Shenzhen International Yidu Building (深国际颐都大厦), successfully obtained LEED-CS Platinum certification awarded by the U.S. Green Building Council, which is a testament to the project’s status as one of the world renowned environmentally-friendly office buildings. The commercial part “Qianhai Yinli”(前海‧印里)officially commenced operation in September 2022. It is one of the rarely-found slow-paced garden-style neighborhoods that integrate high quality of life, culture and arts, social-circle interaction and digitalized lifestyle in Qianhai and Shenzhen. 


The second phase of the Qianhai Project has a plot ratio-based gross floor area of approximately 110,000 square meters in aggregate, comprising residential area of approximately 91,000 square meters. This phase will be developed in two parts. The group solely developed “Yicheng Qiwanli” with a total plot ratio-based gross floor area of approximately 65,000 square meters, including residential gross floor area of approximately 51,000 square meters and commercial gross floor area of approximately 6,000 square meters. Another residential development of the second phase of the Qianhai Project was developed jointly with Shenzhen Vanke, comprising residential area of approximately 40,000 square meters and commercial area of approximately 3,400 square meters. 


The third phase of the Qianhai Project has a plot ratio-based gross floor area of approximately 172,000 square meters in aggregate. The residential project has a plot ratio-based gross floor area of approximately 80,000 square meters and will be developed jointly with Shenzhen Vanke. The Group also owns two separate plots of land for office and commercial use with an aggregate plot ratio-based gross floor area of approximately 92,000 square meters. 


SZ South China Logistics Park


With the in-depth implementation of the nation’s “Two-region Engines” strategy, the Greater Bay Area will become one of the most open and vibrant economic zones in the PRC. However, land supply in the Greater Bay Area is limited and land resources in the core areas are particularly scarce. Covering an area of approximately 580,000 square meters, the Group’s SZ South China Logistics Park is located in the central axis and core node of Shenzhen. It is the largest traditional warehousing and logistics park of the Group in Shenzhen. Promoting the transformation of SZ South China Logistics Park is a key part in the Group’s exploration of the long closed-loop “Investment, Construction, Operation and Transformation” development model besides the Qianhai Project. 


The transformation of SZ South China Logistics Park was supported by various policies in 2022, the concept for the integration of SZ South China Logistics Park in the planning and design of southern Longhua has been preliminarily recognized by the government of Longhua District.


Shijiazhuang Zhengding Project


The Shijiazhuang Zhengding Project is a pre-eminent project of the Group in the Beijing-Tianjin-Hebei integrated development region with a site area of 310,000 square meters. The project adheres to the concepts of smart technology, green and low carbon as well as integration and sharing, this project will be developed into a modern industrial-city complex integrating pharmaceutical logistics, e-commerce and cold chain, ice and snow sports, cultural tourism, innovation and entrepreneurship platform and quality agricultural product display.


To capitalize on the favorable local business environment and sophisticated positioning of the project itself, this project has focused on leasing liaison in recent years. It has attracted a number of renowned domestic and international brands, such as Sunac Culture & Tourism, Hampton by Hilton, Shenzhen SEZ Construction Group, PH Alpha and The Jerde Partnership, with the aim of pooling their strengths and jointly developing the project into a distinctive modern integrated cultural tourism complex and micro-vacation destination in the Beijing-Tianjin-Hebei Capital Economic Circle. Going forward, this project may also become a demonstrative project in the field of comprehensive energy applications as well as the first modern urban facility in the PRC that realize deep integration between the logistics and commerce industries.


updated on 5 May 2023