On May 27th, the land 2022-30, Baihu North Area, Cangshan District, was auctioned in Fuzhou Municipal Service Center. SM China won it at the price of 712 million yuan.
Mr. Johnson Co, General Manager of SM China, raising the board for bidding
The plot is a pure commercial land, with an area of 58,130 ㎡. It is located in the southwest of the intersection of Zexu Avenue and Gaishan Road, the geometric center of Cangshan District, Fuzhou.
Distribution of the land 2022-30
SM China plans to invest nearly 2 billion yuan in the newly picked plot to create an urban-level commercial center with gross floor area of nearly 200,000 sqms, integrating multi-functional experience space, unique social scene and colorful waterfront night-economy, focusing on the wandering experience and entertaining function.
Project facade perspective (planning display, does not represent the final effect)
According to the plan, the underground commercial space of the project will be connected to the Baihuting Station of Metro Line 1, which will vertically provide access to the north-south urban areas of Fuzhou. It is near the public transportation facilities and will also be connected to the dense living areas by nearly 30 bus lines.
Project waterfront night view perspective (planning display, does not represent the final effect)
Mr. Johnson Co, General Manager of SM China, said, "In the era of epidemic normalization, the world has witnessed the high resilience and strong potential of Chinese economy, which has strengthened SM Group's determination to invest in China. Cangshan District is the key development area of provincial capital Fuzhou's eastward and southward expansion planning. This decision is of great significance to SM China's strategic layout of strengthening the regional scale advantage of Fujian province, and we look forward to helping the new core area of Fuzhou to spark new commercial vitality."
Previously, SM China has frequently communicated with Fuzhou Municipal Government and Cangshan District Government about the investment plans and signed an investment intention agreement at China International Fair for Investment & Trade to further promote the landing of the project.
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