Wanda moves into Guangzhou,building commercial flagship
On February 10, Guangzhou Baiyun Wanda Plaza held a grand ground-breaking ceremony. This is the first Wanda Plaza that Dalian Wanda Commercial Properties Co., Ltd., the leading commercial property developer in China, has invested and constructed in the Pearl River Delta region. It marked the overall completion of Wanda Plaza's national distribution. Thus far, Wanda Plazas can be found in more than 50 cities in nearly 30 provinces across the country.
Guangzhou Baiyun Wanda Plaza is located in Guangzhou Baiyun New Town. Total investment in the project is RMB 5 billion, with a gross building area of 395,000 sq m, including about 220,000 sq m for the commercial and five-star hotel areas. The project includes the commercial centre, five-star hotel, business hotel, outdoor pedestrian street, Grade A office building, etc. Baiyun Wanda Plaza is the Company's first Category A flagship plaza among its more than 60 Wanda Plazas currently in operation or under construction. Category A plaza is the highest level among the Wanda Plazas in terms of construction standards, and there is only four at present. As the flagship among the Category A plazas, Baiyun Wanda Plaza's huge investment per unit floor area, advanced design ideas and introduction of high-end brands will enable it to become the best commercial centre in China.
First, the Van's Department Store located in Baiyun Wanda Plaza is the flagship store of Van's Department Store's Category A stores, and will bring in more than 30 international and domestic top brands to build it into one of the best department stores in Guangzhou. Second, the Company has invested nearly RMB 100 million to build South China's first high-definition giant screen in the outdoor pedestrian street. The screen is equipped with high-fidelity surround sound and can produce extremely stunning visual effects. At the same time, 2 giant LED screens, each more than 100 sq m in size, are installed on the external wall of the plaza, thus creating a unique shopping and leisure space. Third, the Wanda Hilton Hotel located in Baiyun Wanda Plaza covers an area of 45,000 sq m and has 332 rooms. In order to upgrade the rating of the hotel, Dalian Wanda Commercial Properties has taken the initiative to increase investments and build it to be the flagship hotel of the Hilton hotel brand in the country. The hotel lobby has a 15-meter high ceiling and covers an area of 1,200 sq m. The Grand Ballroom covers an area of 1,500 sq m and can accommodate 1,000 people, so it can comprehensively meet the demand of large-scale high-end business events. Fourth, Baiyun Wanda Plaza has 3 independent international Grade A office buildings which are specifically tailored for large corporate headquarters. Fifth, Baiyun Wanda Plaza has 3 pedestrian streets that are designed with the same style but different themes, i.e. commercial centre indoor pedestrian street, outdoor pedestrian street and city pedestrian street, respectively. Combined with the 5 city squares which have a total area of 25,000 sq m, they form a comprehensive featured commercial street district. Sixth, the Wanda movie theatre within the Baiyun Wanda Plaza will build the nationwide flagship theatre of Wanda Film Exhibition Company and will bring in the first digital IMAX movie hall in South China, thus filling the gap in South China.
When in operation at the end of 2010, Baiyun Wanda Plaza will greatly enhance the commercial and hotel standards in Guangzhou and promote the development of Baiyun New Town area. When put into operation, the plaza will create nearly 10 thousand stable jobs for Guangzhou City, and generate more than RMB 100 million in tax revenue as well as enormous economic and social benefits every year. In the next few years, Dalian Wanda Commercial Properties Co., Ltd. will further increase its investment in the Pearl River Delta region. It is expected to build at least 5 Wanda Plazas in the region that will become the key region in Wanda Plazas' national distribution.