CBRE
The National Conference and Exhibition Centre will start construction in May 2012
Billed as one of the largest convention and exhibition centres in the world, the Tianjin National Conference and Exhibition project covers a site area of about 2.8 sq km. The exhibition area will reach 1 million sqm with the first phase reaching a total of 600,000 sqm likely to be completed in 2014. The rest of the exhibition hall will be completed in 2020. The project’s total investment is about CNY 15 billion.Â
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5 Courtyards Retail Property Market Launch
Situated in Tai’an Avenue close to the Astor Hotel is the new mixed use development known as 5 Courtyards. Comprising a mix of high-end apartments, offices, retail and hotel, the entire development is close to 510,000 sm. Some of the retail street shops have recently opened including Starbucks and Rolex, in addition to the latest Friendship Department Store that carries both international and local brands.
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Construction of Subway Lines 5 and 6 to start this yearÂ
As part of enhancing the metro network and accessibility, the government has announced that Lines 5 and 6 will link up the various districts such as Beichen, Hebei, Dongli, Hedong, Hongqiao, Nankai, Hexi and Xiqing. Upon completion in the next couple of years, commuters will be able to gain access to the railway stations in the north and west, the zoo and the Civic and Cultural centre in Hexi District.Â
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Tianjin commercial residential turnover in the first quarter fell to its lowest level in nearly four years
During the first quarter of 2012, Tianjin’s commercial residential transacted sets and transacted areas fell to 12,274 units and 1.26 million square meters, q-o-q, decreasing by 22.11% and 24.24%, respectively. This corresponds to a y-o-y decrease of 50.09% and 50.87%. These figures indicate that in the first quarter of 2012, Tianjin commercial residential turnover fell to its lowest level in nearly four years after two consecutive quarters of being down.
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The main structural body of the Tianjin Airport Terminal T2 started construction; scheduled to open in 2014
The T2 terminal has entered the main structural construction stage now, and is expected to be put into use in 2014. By then, Tianjin airport terminal will have a total area of 360,000 sqm, and the annual passenger transport capacity will reach 25 million passengers.
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Jin Yuan Bao Binhai International Shopping Centre will open in June 2012
Located within the busy thoroughfare of TEDA, the shopping centre will have a gross floor area spanning approximately 40,000 sqm. A number of international brands have been attracted to it, and it is notable that for over 70% of the brands (both local and foreign), it would be their first foray into TEDA. The shopping centre will be in trial operation at the end of June. Â
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