Product: big-eyed building tube

Author: Sean

Wuhan Henglong Plaza officially opened on March 25, the tenth comprehensive commercial project developed by Hang Lung Properties, a national real estate company renowned in the industry, in the mainland and its first large-scale project in central China. Since the land was picked in 2013, after years of careful construction, Wuhan Hang Lung Properties will bring more diversified upgrading experience and "customer-oriented" quality service to consumers in the high-end market in Wuhan through higher-quality properties.

(opening of Henglong Square in Wuhan)

Mr. Chen Wenbo, Vice Chairman of Hang Lung Properties, said: "Wuhan is a mega-central city in central China, that is, the central city in the heart of China, so we chose the name 'Heartland66' in English. Henglong adheres to the principle of 'only choose what is right'. After eight years of careful preparation and the constant support of the Wuhan municipal government, Henglong finally ushered in Henglong's first large-scale commercial complex project in central China, Wuhan Henglong Plaza. "

The blooming of Henglong Business Model again

The site for the Henglong Plaza project in Wuhan was acquired by Hang Lung Properties in February 2013 at a transaction price of 3.3 billion yuan. The site is located on Jinghan Avenue in Dengkou District, a trade hub in Wuhan City, adjacent to the light rail and subway networks. the net land area of the site is about 82600 square meters, which is similar to that of Wuguang Business District and Zhongshan Avenue Business District.

It can be said that Wuhan Henglong Square is another excellent work under the Henglong commercial real estate model, which coincides with Chairman Chen Qizong's proposal that high-end commercial real estate must have five major genes: land selection, project planning, property design, building quality, and property and tenant management.

First, pick the land carefully.

Hang Lung Properties, a national real estate company with a history of more than 60 years, has a deep understanding of the economic and real estate cycle and has always been good at taking land at the bottom of the cycle, so that he can carefully select high-quality plots.

Data source: WInd information

As the largest transportation hub in inland China and an important strategic fulcrum for the rise of the central part of the country, Wuhan is in line with the concept of Henglong's consistent focus on core cities. So far, Henglong has expanded its territory in nine mainland cities, covering Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. The construction of Henglong Square in Wuhan will help to promote the development of Wuhan business and trade industry, inject new vitality into the urban business circle, and create a win-win situation.

Wuhan Henglong Square is located in the core area of the city's life-Jinghan Avenue, Dengkou District, adjacent to the subway network of Light Rail Line 1, Metro Line 2 and Line 6, and adjacent to Zhongshan Park. and close to the famous Wuhan-Guangzhou business circle and Zhongshan Avenue business area, is a prosperous business hub for the city center.

Second, mature project planning.

Since taking the land, the total investment of Wuhan Henglong Plaza is expected to be 13 billion yuan. Henglong has built it into a commercial complex with a total floor area of 450000 square meters, which integrates shopping malls, grade An office buildings and serviced apartments. Wuhan Henglong Square is the second largest area of mainland commerce in Henglong, second only to Shenyang Henglong Plaza. It has a huge volume and mature business system, and is expected to become a new landmark and a new shopping center in Wuhan.

(effect picture of Henglong Square in Wuhan)

The planning of Wuhan Henglong Square continues Hang Lung Properties's consistent high-end positioning, introducing many international famous products, with a total area of 177000 square meters and about 300 shops. So far, about 110 Wuhan first stores, exclusive stores and flagship stores have been introduced, which will provide Wuhan with rich and international retail options.

At present, a single shopping experience has been unable to match the current needs of multiple customer groups, consumers' higher pursuit of quality of life, to the shopping center life scene, interactive experience, multi-space and other aspects of the construction of higher requirements.

Wuhan Henglong Plaza keeps pace with the times, breaking through the traditional interactive devices covering the entire mall, integrating fashion, humanities and AR technology and other elements to create an unprecedented immersive experience. In addition, Henglong pays close attention to the consumer needs of young people and family customers in Wuhan, bringing together a diversified brand matrix such as fashion trend, international catering, taste of life, entertainment and leisure, and at the same time creating a whole floor of children's special area and mother-and-child center. it covers rich and diverse experiences such as children's shopping, entertainment, photography and education.

As Mr. Chen Wenbo, Vice Chairman of Hang Lung Properties, said: "the vision of our company is to create a premium living space. Today, Wuhan Henglong Square has turned a new page for the taste of Wuhan life." From design, construction and investment promotion to operation, service and experience, Wuhan Henglong Plaza is a world-class commercial complex, representing the pulse and power of Wuhan. "

Third, the top property design.

Hang Lung Properties has always focused on the integration of urban genes, emphasizing both internal and external studies. Wuhan Henglong Plaza integrates the humanistic spirit of Wuhan. The mall design draws inspiration from Chinese tradition and outlines the good wishes of good luck and peace throughout the year.

(a bird's-eye view of Henglong Square in Wuhan)

Henglong is committed to architectural aesthetics and has joined hands with international architecture firm Aedas to build the building and has been pre-certified by the American Green Building Association's "Energy and Environmental Design Vanguard Award (LEED)-Core and Shell Group" gold award, affirming that the project meets international environmental standards in many aspects and highlights Hang Lung Properties's core value of "sustainability".

(Wuhan Henglong Square permanent art installation "Mirror Mirror", located in the East Square)

The diversified luxury life pioneered by Henglong Plaza in Wuhan is not only reflected in the rejuvenation of the architectural space and the brand-new lineup, but also enriches the life experience by creating a characteristic space, original multiple interactive experience and the introduction of international works of art. to create a high-quality place full of living atmosphere.

From the outdoor space to the interior of the shopping mall, Wuhan Henglong Square guides the guests to the building through the sunken square; the rooftop garden has a broad field of vision, which is not only a pleasant place to live, but also a high-quality social space; and there are hipsters punching in the sacred "patio". It is available for free exploration and experience, showing an interesting "underwater world".

Fourth, high-end construction quality.

Since last year, the opening time of Henglong Square in Wuhan has attracted a lot of attention. In fact, since the acquisition of land in 2013, 450000 square meters has taken eight years, with an investment of 13 billion yuan, equivalent to a construction cost of about 30, 000 square meters per square meter. the so-called slow workers can do fine work, and Hang Lung Properties is willing to spend money on the high polishing of Henglong Square in Wuhan. Chairman Chen Qizong has a firm belief in Wuhan Henglong Square, "Henglong Square will become the first 'really good' high-end shopping mall in Wuhan."

Compared with the rhythm of some domestic commercial real estate leaders opening more than a dozen new shopping malls every year, Henglong obviously takes longer to polish its products and costs more.

In this regard, General Manager Ye Peineng also said: "We will never sacrifice high quality in order to catch up with the opening schedule, and will not lower the requirements for all aspects of the project." This also shows that Hang Lung Properties has always adhered to the concept of high standards-"only choose what is good, and only do what is right."

Fifth, high-quality property and tenant management

Hang Lung Properties has been working on both Hong Kong and the mainland since the 1990s. After many rounds of economic and real estate cycles, the company's business strategy has become more robust, which has laid the foundation for the unique "Henglong model".

The so-called "Henglong model", that is, the long-term lease model of "buying land, construction and leasing", is completely different from the high turnover strategy of real estate development companies in the mainland. By signing leases with reputable companies, you can lock in revenue for several years, thus ensuring the company's revenue and profits in the event of an economic downturn.

If we say the weight of the high turnover mode, then the long lease model must attach importance to quality. To buy the best land in cities with development potential and hire top architects to create the highest quality property with the highest quality design is the essence of the Henglong model.

(Chen Wenbo, Vice Chairman of Hang Lung Properties)

As Mr. Chen Wenbo, vice chairman of Hang Lung Properties, said, Henglong is full of confidence in the Wuhan market. With years of accumulated development and operation experience, the company will give full play to Henglong's advantages as the country's leading high-end consumer goods market operator. create Wuhan Henglong Square, a new landmark, help Wuhan and even Central China's economic development.

With the vigorous development of the mainland economy and the rapid improvement of people's consumption level, Hang Lung Properties introduced high-end commerce to the mainland, which not only met people's growing consumer demand, but also achieved rich returns. Hang Lung Properties earned HK $8.973 billion in 2020 and achieved a positive growth of 4 per cent in the year of the epidemic. Among them, Hang Lung Properties achieved an income of HK $5.277 billion in the mainland, an increase of 17% over the same period last year, and the rental rate was at a high level. Revenue in Hong Kong reached HK $3.696 billion, with the mainland accounting for 59 per cent more than Hong Kong, up from 51 per cent in 2019.

Source: company announcement

In addition, Hangzhou Henglong Plaza is expected to be completed in stages from 2024, and the piling project is currently in good progress. The project, with a total floor area of 194100 square meters, is also expected to develop into a high-end commercial complex, including a shopping mall with a total floor area of 99000 square meters, five Grade An office buildings and the first Mandarin Oriental Hotel in Hangzhou.

As Hang Lung Properties's territory in the mainland continues to expand, various projects will bring synergy to the company's business development and help Henglong realize its vision of creating a premium living space.