Hangzhou: A Multi Centered Business Structure Is Gradually Taking Shape.

Hangzhou's commercial real estate has undergone changes from community shops to complexes.

Referring to the business gathering area in Hangzhou, people's minds first jumped out of the two major business circles, Wulin Road and Hubin Road.

With the Hangzhou Tower, Yintai, badian, shopping mall and Wulin Road as the main body, the commercial area of the Wulin, together with Wah Yuen, West Lake times, Li Xing and lakeside famous street, formed a deep foundation in the hearts of the old Hangzhou people. These two business circles have always been the most popular places with convenient exchanges, densely populated houses and various kinds of street shops.

Nowadays,

Commercial real estate refers not only to shops and offices.

Its scope is much larger than you think.

Speaking of commercial real estate, most people will think of shops and office buildings.

This understanding is one-sided.

According to the definition, commercial real estate in addition to the two, also includes hotel style apartments, shopping centers, commercial streets, hotels, professional markets and other forms, for retail, catering, entertainment, fitness, leisure and other business purposes.

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Commercial real estate has various forms and sizes.

Large scale commercial real estate, such as the pin Mao project, can reach hundreds of thousands of square meters of construction area, and small commercial projects are only a few hundred square meters, or even smaller.

The large scale commercial real estate is mostly managed by developers, and the project is unified management to collect rent as the mode of return on investment.

Such as the opening of the world in 1989, the world's largest selling Maotai, Canada's Syed Menton shopping center and the first largest selling product in the United States in 1992, the mall of America, is a model of super shopping centers.

Syed Menton shopping center has a total construction area of 5 million 300 thousand square feet and employs nearly 24000 people. As a shopping center, it has been recognized as an entertainment center. It has more than 800 shops and service facilities, including 9 wonderful and wonderful playgrounds, a world-class hotel, a wide range of specialty stores and more than 100 catering outlets, which can meet all kinds of needs and preferences of customers of different ages.

The mall, which is divided into 4 levels, is believed to contain two huff Pyramid. There are about 520 stores in the mall. Even if it only stays in each store for 10 minutes, it will take 86 hours to pfer all the stores.

For smaller commercial real estate, most of the projects still adopt the traditional mode to reclaim rents under the unified management mode, but many small commercial real estate, such as apartments, office buildings, and other commercial streets and commodities.

Hangzhou's commercial real estate has gone through four stages of development.

With the continuous expansion of Hangzhou's urban scale, the evolution of urban structure and the diversification of functional structure, the development of commercial real estate in Hangzhou has also ushered in a spring: from shopping malls to commercial streets, from commercial streets to business circles, from point to line, from line to surface, from single format to diversified formats.

This kind of business development from spontaneous agglomeration to government guidance has gone through four stages.

The first stage, the initial development period (before 1997): the official start of commercial real estate in Hangzhou should start with the professional market.

From 1992 to 1997, the construction of the southern section of Yanan road promoted the formation of the Wu Shan business circle, and the large department stores such as Jie Bai emerged. Along the road, the lakeside and Hefangjie Street blocks prospered on the basis of tourism development and became the first batch of commercial projects in Hangzhou.

This stage belongs to the traditional commercial development period. The commercial form of Hangzhou is mainly based on the stalls, the shops at the bottom of the community, the shops on the street, and the small and medium-sized supermarkets, etc., which mainly acts as a by-product of the residential real estate. The overall business volume is small, and the links among the various commercial projects are also relatively loose.

The second stage is the gradual growth period (1997 -2001), and the intime department store opened in:1998. In 1999, Hangzhou Tower and Hangzhou department store were reopened after adjustment.

The emergence of several major department stores marked the formal formation of Wulin business circle with department stores as the main force.

At this stage, the development of commercial real estate has directly contributed to the maturity of Commerce along Yanan road.

The third stage - the rapid development period (2002 -2010): the establishment of lakeside famous street, star famous square and Wah Yuen, promote the pformation of the lakeside business circle from the development of tourism to the high-end famous shopping and leisure entertainment business circle in the city, and establish the image of the lakeside commercial circle as the high-end consumer concentration.

Meanwhile, with the expansion of Hangzhou Tower and the expansion of Yintai department store and the continuous entry of foreign brands, the development of commercial real estate in Hangzhou also ushered in a spring.

The fourth stage, the smooth development period (since 2010): with the construction of subway and the emergence of a series of integrated Metro business brought by the subway, the status of the regional commercial center will be further consolidated.

A more diversified business structure is taking shape.

At present, the business structure of Hangzhou has shown an increasingly distinctive development feature.

The pattern of "one heart and more points" has begun to change to the pattern of "more heart and more points", and regional consumption will become the mainstream.

According to the planning of commercial outlets in Hangzhou, Hangzhou will form a commercial structure of municipal level, three municipal level sub commercial centers, four regional business centers and seven characteristic streets as the skeleton.

At present, the municipal commercial center that we know is still composed of Wulin business circle, lakeside business circle and Wu Shan business circle. In the future, the city commercial center will also increase the Qianjiang New Town business circle: in April 2010, Hangzhou the Mixc officially opened, and instantly became the shopping, dining and entertainment place that Hangzhou's "tide people" loved. Besides, the wave culture city had been built, and Raffles square had already started work.

Qianjiang New Town business circle will be formally formed shortly after.

In addition to the above-mentioned regional business circles, including Chengdong Qingchun, Chengxi Cui yuan, Binjiang, Chengbei arch bridge and so on, they are expected to become Hangzhou's mature regional commercial centers in the next few years.

In addition, Hangzhou will also form three commercial sub centers of Linping Deputy City, Xiasha Vice City and Xiaoshan Jiangnan City.