The Heart of the Group, HC Global and Circle Square in Shanghai, together represent 47% of the Group’s total assets and 58% of total operating profit. They easily outperformed the general economy. In the first half of 2009, total retail sales at HC Global rose by 7% year-on-year, which was over 11 percentage points better than the 4.5% decline for that of Shanghai as a whole.

HC Global, the Group’s flagship property situated in the main commercial hub of Shanghai, usually generates some 60% of the Group’s gross rental income from its 8.4 million square feet of prime commercial space comprising offices, retail shops, serviced apartments, hotels and club, and approximately 2,000 car parking spaces. With its 700 shops including 50 restaurants and two cinemas, HC Global is home of Shanghai largest shopping, dining and entertainment centre.

Vibrant promotions at HC Global, including Canton Road Christmas Street Party held every Christmas eve and the talk-of-the-town festive mall decorations, are popular events for locals and tourists alike.

Group’s development

The Group is actively seeking investment opportunities all around the Mainland. Its development land bank and investment properties spread over key cities and new CBDs including Beijing, Shanghai, Chongqing, Wuhan, Dalian, Chengdu, Suzhou, Wuxi, Hangzhou and Changzhou. As at the end of 2008, total attributable landbank and investment properties came close to our interim target of 100 million square feet in GFA. Plans are underway for the development of quality residential, commercial and hotel properties in the next few years.

Among others, Global Understanding Centre in Chengdu, Sichuan, the Group’s next flagship, will be comparable in significance, mix and scale to HC Global in Shanghai. Chengdu is the up and coming business hub at the heart of Western China and has a population of 11 million to trail only Beijing, Shanghai and Chongqing. The project, as the top location in the city’s main commercial district, aims to quickly become the “Best of the West” as the new shopping hub for not only Chengdu but the entire Western region.

In addition, the Group currently operates prime Circle Square developments in Shanghai, Chongqing, Wuhan and Dalian.

This post is also available in: Chinese (Simplified)