Mainland China Properties
Projected completion schedule
ZHUJIAJIAO NEW TOWN, QINGPU
Zhujiajiao New Town is located in Qingpu District, Shanghai close to Zhujiajiao Old Village, a renowned scenic spot. The project comprises villas, apartments and a hotel, and is fully equipped with residential, business, recreational and healthcare facilities. Metro Line No. 17, which will have a station close to our project, started construction in 2013.
THE CENTRE, JIADING
The Centre in north-western Shanghai is situated at Jiading New Town Station of Metro Line No. 11. Access is also available via the Shanghai-Nanjing Expressway, Shanghai-Hangzhou Expressway and Shanghai-Qingpu Highway, all within the area. The project comprises high-rise residential buildings, serviced apartments and hotel, office buildings and shopping malls.
LUJIAZUI HARBOUR CITY
Lujiazui Harbour City, previously used as a shipyard by Shanghai Shipyard Co., is the last prime development area on the south shore of the Huangpu River in central Shanghai. Jointly developed by CITIC Pacific and the China State Shipbuilding Corporation, this project comprises high-end office buildings; a five-star hotel and serviced apartments; recreational, commercial, dining and entertainment facilities; and luxury residential properties.
In Lujiazui Harbour City, two office towers were already built and handed over to the buyers. The Mandarin Oriental hotel and serviced apartments are in operation. Currently, three office buildings for three financial institutions are under construction.
SHANGHAI WORLD EXPO SITE PROJECT
The project is located on the former Shanghai World Expo site, with the Huangpu River on the north and World Expo Boulevard on the east. Two office buildings will be built on the site, one of which has been sold to the Shanghai Branch of CITIC Bank in 2013.
SHENZHOU PENINSULA, HAINAN ISLAND
Shenzhou Peninsula is located in Wanning, Hainan Province, on the Eastern Coast between Sanya and Boao. The project comprises high-end residential buildings, hotels and resorts, shopping arcades, an international golf course and yacht club. Additional recreational, conferencing, exhibition and cultural facilities are also planned.
On the peninsula, we currently have two hotels – the Sheraton and Four Points – a golf complex and beach club. Together with the shopping arcades that opened at the end of 2013, the peninsula provides recreational and entertainment activities for tourists and residents.
Sales progress of residential projects
CITIC Pacific’s property investments in mainland China continued to enjoy steady rental income, with an overall occupancy rate of approximately 88% at the end of 2013. The main contribution to rental income was from CITIC Square, located on Nanjing Xilu, Shanghai, which enjoyed an occupancy rate of 98% at the end of the year.