The reporter learned from Hongkou District on the 26th that in the first three quarters of this year, the net absorption of Grade A office buildings in the North Bund area continued to achieve net growth. By 2024, the stock of Grade A office buildings in North Bund will expand to

reporter learned from Hongkou District on the 26th that in the first three quarters of this year, the net absorption of Grade A office buildings in North Bund area continued to achieve net growth. By 2024, the stock of Grade A office buildings in North Bund will expand to 1.4 times the current level, and many landmark projects will re-energize regional development.

In the next two years, with the 480-meter landmark building of 91 neighborhoods and landmark projects developed by Shanghai Industrial (Group) Co., Ltd., China Jinmao (Group) Co., Ltd., and Guohua Life Insurance Co., Ltd. , the stock of Grade A office buildings in the North Bund will reach about 1.4 million square meters based on the existing approximately 1 million square meters.

"In the long run, the stock of Grade A office buildings in North Bund will continue to grow, and the region will usher in high-quality sustainable development." A relevant person in charge of the Market Research Department of Savills China said. Data shows that since 2016, a number of Grade A office buildings such as Guotou Building, Xinghui Center, Magnolia Square , Raffles North Bund, and Sino-US Financial Building in the North Bund area have been completed and put into use. The investment promotion capacity has been further strengthened, well-known companies have arrived one after another, and the building occupancy rate has increased significantly.

Compared with other regions, North Bund has its own advantages - it is located at the intersection of "one river and one river" and is a corner of Shanghai's "golden triangle". Especially with the integration and opening of the waterfront public space of "one river and one river", the location advantages of North Bund are becoming increasingly obvious. At the same time, the expropriation and renovation of large-scale second-level old houses below the North Bund was fully completed in June last year, becoming the only area in Shanghai that can be developed in a large-scale manner. New plots and new projects are full of expectations.

In addition, from the perspective of tenant structure, the North Bund companies have developed from around 2000 to 2010 to mainly shipping services, to around 2010 to mainly shipping and finance, and to now, more diversified industry ratios, and have positively transformed into a business district with a complex function, showing strong "magnetic suction". In accordance with the requirements of high-level planning, the longest urban corridor will be built in the future, the largest integrated underground space development in the central urban area, and the largest Central Park in Shanghai's core business district. With high-quality environment and high-efficiency transportation, North Bund will be misaligned with Bund and Lujiazui to form a new era central activity area that integrates jobs and incubates innovative thinking.

"If Lujiazui is a microcosm of the 30 years of development and opening up of Pudong , the North Bund will become a benchmark for the reform and opening up of in the new era of Shanghai reform and opening up." A relevant person in charge of Hongkou District said that the district Hongkou will be led by North Bund to promote the high-quality development of , and forge high-quality life with the people-centered development idea, and achieve high-efficiency governance with the concept of overall planning and balance, and strive to create a vivid practice place for Chinese modernization.

Author: Shan Yingwen

Picture: Photo by Yang Borong, Photo provided by the interviewee

Editor: Zhou Chen