Real Estate Development the Chinese Way (Albert Chan) - ULI fall meeting - 102811
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Transcript of Real Estate Development the Chinese Way (Albert Chan) - ULI fall meeting - 102811
Real Estate Development a Chinese way--Masterplanned Urban Redevelopment
ULI Fall Meeting 2011Los Angeles
Albert Chan
October 28, 2011
Confidential – not for distribution内容机密请勿外泄
Shui On Construction and Materials
• Founded and listed on the HK Stock
Exchange in 1997
• Focuses on asset management, construction, cement production, property development and
venture capital
Shui On Construction and Materials
• Founded and listed on the HK Stock
Exchange in 1997
• Focuses on asset management, construction, cement production, property development and
venture capital
Shui On Group
• Founded in 1971 by Vincent Lo
Shui On Group
• Founded in 1971 by Vincent Lo
Shui On Land
• Founded in 2004 and listed on the HK Stock Exchange in
2006
• Focuses on large-scale development projects on the Chinese Mainl
and
Shui On Land
• Founded in 2004 and listed on the HK Stock Exchange in
2006
• Focuses on large-scale development projects on the Chinese Mainl
and
Shui On Group
Vision of Shui On Land
Prime Location + masterplanned Community = Prime Location + masterplanned Community = competitive advantagecompetitive advantage
Prime Location + masterplanned Community = Prime Location + masterplanned Community = competitive advantagecompetitive advantage
Utilizing strengths in master planning with well-researched analyses of market trends and needs of the cities.
Work closely with the government to develop comprehensive master plans that can assist in achieving their goals and the transformation of their cities.
Create landmarks in our projects to attract visitors and buyers.
To be the premier innovative property developer in the Chinese Mainland, the most exciting property market in the world
We focus on large-scale projects, primarily of the following types:We focus on large-scale projects, primarily of the following types:
City Core Developme
nt Projects
Knowledge Community
Projects
Strategy of Shui On Land
Transit based
Development
Projects
Competitive Advantage at all Stages
City screening, site selection and master planning
Land acquisition
Procurement and construction
Project design, interior design and product positioning
Pre-sales, sales and marketing
Property management and after sales
WuhanWuhan
ChongqingChongqing
ShanghaiShanghai
DalianDalian
FoshanFoshan
Access to Land in Prime Cities
Total land bank: 13.1 mn sqm Total land bank: 13.1 mn sqm
Total GFA by CityTotal GFA by CityTotal GFA by UsageTotal GFA by Usage
Landbank is sufficient for the next 10 years of developmentLandbank is sufficient for the next 10 years of development
13.1 mn
sq.m5 cities
Landbank Breakdown
Proven expertise and successful track record in developing large-scale integrated property projects based on master plans developed in conjunction with local governments
City-Core DevelopmentKnowledge
Communities
Taipingqiao
GFA1.2m sqmShanghai
Chongqing
Tiandi
GFA3.6m sqm
Chongqing
Wuhan
Tiandi
GFA1.5m sqmWuhan
Foshan Lingnan Ti
andi
GFA1.6m sqmFoshan
Knowledge andInnovationCommunity
("KIC")
GFA0.5m sqmShanghai
DALIAN TIANDI •
software hub
GFA3.5m sqm
Dalian
Rui Hong Xin
Cheng
GFA1.2m sqmShanghai
HongqiaoTiandi
GFA0.06m sqmShanghai
Projects with Different Development Models
I. China’s urbanization
Need for Development in China – Urbanization
China is undergoing the largest urbanization effort in human history
YearUrbanized Population
(million)Urbanized Population (%)
Population Increase Compared to 1995
1995 351 29 -
2000 459 36 108
2005 562 43 211
2010 635 47 284
2020 775 52 424
2050 1,195 65 844
Sources: China Statistical Yearbook (2006), China’s “11th Five Year Plan”
Need for Development in China – Lack of land
25.9
13.110.9
2.85 2.1 1.43
Canada Russia U.S. India German China
Comparison of arable land per man in 2005
( 1 Chinese mu ~ 0.16 acre)
30
25
20
15
10
5
0
(Chinese Mu)
Economic growth drives need for city transformation and development
Average real GDP growth rate of 9.9% since the Open Door policy began in 1978
Timely and effective stimulus programme – China grew by 9.1% in 2009
Source: National Bureau of Statistics, IMF World Economic Outlook April 2010
Real GDP growth (yoy, year-to-date)
13.0%
11.1%
11.9%
6.1%
9.6% 8.7%
0%
2%
4%
6%
8%
10%
12%
14%
16%
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
Q1
Q3
2009
Q1
Q3
2010
Q1
Q3
Two basic ways to urbanize: expansion and upgrade of existing cities & the creation of new ones
China’s Urbanization
Traditional city blocks in Shanghai
walkable mixed usage inherent of culture & context
But cannot meet urbanization demand low efficiency buildings are obsolete shortage of land in cities
China’s Urbanization
Plan of Beijing City: high density suburbanization?
China’s Urbanization
Typical Residential Development: separation of land use
China’s Urbanization
China Today Number one producer and consumer of cars in the world
China’s Urbanization
Underdeveloped neighborhoods in the city core provide many vibrant growth opportunities
China’s Urbanization
Unprecedented need for urbanization
Both the expansion and creation of cities has led to similar urban issues:
Increased car traffic and pollution. Development of car-oriented cities
Loss of cultural identity
Lack of pedestrian-oriented streets and places that foster a rich civic life
Energy consumption and carbon emission are greatly increased
Urban core development stagnation is beginning to appear in cities with rapid economic growth and expansion at the edges
Newly formed residential districts are frequently isolated from work and leisure places
China’s Urbanization and Development Issues
II. Shui On’s Development Planning Principles
Community-Scaled urban development
Lifestyle Centers
Mixed Use Communities
Good Linkage To Transit
Walkable streets and blocks
Open Space Amenities
Phased development
Respect for local culture
Sustainable Development
SOL Masterplanning Principles
2 Cases of urban redevelopment
Shanghai Taipingqiao
Foshan Lingnan Tiandi
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community
办公楼 零售 酒店 住宅及服务式公寓 其他用途 合计
390,000M2 120,000M2 100,000M2 540,000M2 5,000M2 1,155,000M2
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community
To help regenerate Luwan District through redevelopment of
old residential area into mixed used community
Position to be an urban center international 24/7 community
Respect for, and linkage to the existing urban fabric
Traditional streets and blocks size
Pedestrian and public transit oriented
Include adaptive reuse of areas within the community
Phased development
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Xintiandi: Existing Context
Located at the heart of Shanghai
Part of Taipingqiao masterplan
Planning restrictions and opportunities due to First
Congress Hall
Existing traditional buildings-li long
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Xintiandi Development and Design Concepts
Utilize Shanghai tradition to create center of living culture and living lifestyle
Adaptive reuse of traditional residential buildings
Create a focal point in Shanghai
Create variety of open spaces to enjoy and mingle
Assemble a unique mix of uses to create a destination
Enhance the value of the masterplanned area
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: public space
Shanghai Taipinqiao Masterplan Community: public space
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: Xintiandi development
A lifestyle focal point for Shanghai
A development that defines the area
Brand Creation for development type and for SOL
Unique way to approach large scale urban development
Traditional buildings and districts can have value
Pedestrian friendly developments works
Recognitions : First China Development to win ULI Award of Excellence (2003), plus other international and local awards
What has Xintiandi done?
Shanghai Taipinqiao Masterplan Community: office development
Shanghai Taipinqiao Masterplan Community: mixed use development
Shanghai Taipinqiao Masterplan Community: mixed use development
Shanghai Taipinqiao Masterplan Community: mixed use development
Shanghai Taipinqiao Masterplan Community: residential development
Shanghai Taipinqiao Masterplan Community: residential development
Shanghai Taipinqiao Masterplan Community: residential development
Shanghai Taipinqiao Masterplan Community: public space
Shanghai Taipinqiao Masterplan Community: public space
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community: mixed use development
Shanghai Taipinqiao Masterplan Community: mixed use development
2008 TPQ SOP 26/F LEED-CI Silver Cert
2009 TPQ SOP 25/F LEED-CI Silver Cert
2009 TPQ Lot 126 LEED-CS Gold Pre-cert
2010 TPQ Lot 127 LEED-CS Gold Pre-cert
Shanghai Taipinqiao Masterplan Community: sustainability
Premier community in Shanghai
Become known as “Xintiandi community”
Ongoing phased development
Xintiandi is a lifestyle focal point and landmark
Vibrant urban destination day and night
Increase in values for the district and property owners
Desirable community to live, work and play
What has Taipingqiao community become?
Foshan Lingnan Tiandi
Location of Foshan
佛山 Foshan
Foshan Lingnan Tiandi
Named “Foshan” in the year 628
One of China’s “ 四大名镇” Known as“ 天下四大聚” along
with Beijing, Hankou, and Suzhou
Hometown of Cantonese Opera Hometown of traditional Chines
e medicine Hometown of martial arts Pottery art Cantonese cuisine Paper-cut
Foshan Culture
Foshan Lingnan Tiandi
Cantonese Opera Nanfeng Guzhao ( 南风古灶 )
Wang Fei Hong( 黄飞鸿 ) Ancestral Hall
Paper-cut Lion Dance Cantonese Cuisine
Foshan Culture
Foshan Lingnan Tiandi
20km
佛山Foshan
广州白云机场Guangzhou Baiyun Airport
广州 CBD
5 号线Line 5
Subway link to Guangzhou CBD
建新路祖庙Zu Miao
佛山老城Foshan Old City
东华里Donghuali
5号
线L
in
e 5
一号线Line 1
65 Ha
祖庙站祖庙站Zu Miao StationZu Miao Station
普君北路站普君北路站
Line 1 and line 5 will link Foshan to the CBD of Guangzhou and bring new development opportunities
1 号线Line 1
Metro Line 1 and line 5
Foshan Lingnan Tiandi
品字街历史文化街区Pinzi Historic and Cultural Street Block
梁园历史文化街区Liang Garden Historic and Cultural Street Block
莲花南历史文化街区Lianhuanan Historic and Cultural street Block
任围历史文化街区Renwei Historic and Cultural Block street Block
祖庙-东华里历史文化街区Zu Miao-Donghua Historic and Cultural Street Block
新安街历史文化街区Xin’an Historic and Cultural Street Block
省级保护文物单位Provincial Level and Municipal Level
国家级文物保护单位National Level
6 Historic and Culture Street Blocks of Foshan Old Town
Foshan Lingnan Tiandi
Original Site Texture and Building Fabric
Foshan Lingnan Tiandi
22 Heritage Protected Sites and Many Historic Buildings
Foshan Lingnan Tiandi
Project Location and Context
Foshan Lingnan Tiandi
Zu Miao ( 祖庙 ) Retail Corridor
Existing Commercial Center
Existing Commercial Context
Foshan Lingnan Tiandi
Donghuali ( 东华里 )
Foshan Lingnan Tiandi
Traditional Neighborhood with Unique Architecture
Foshan Lingnan Tiandi
Jianshi Mansion ( 简氏别墅 )
Foshan Lingnan Tiandi
Historic Alleys
Foshan Lingnan Tiandi
Preserve the Existing Buildings and the Special Architecture Elements
Foshan Lingnan Tiandi
Need for Building Improvements: the Structure
Upgrade the structure for 70-year usage
New utilities and infrastructure
Upgrade the fire-fighting system and modern amenities (kitchen, toilet)
Upgrade the interior to satisfy the sunlight and ventilation requirement
Car Parking (Including basement)
Foshan Lingnan Tiandi
Master Plan
Total net site area is 51.74ha., total GFA is 1.5 million square meters
Foshan Lingnan Tiandi
Land Use Plan
办公楼
Office
零售
Retail
酒店
Hotel
服务式公寓 Service Apartmen
t
居住
Residential
其他用途
Others
合计
Total
450,000M2 200,000M2 80,000M2 30,000M2 700,000M2 40,000M2 1,500,000M2
Foshan Lingnan Tiandi
“Valley” Concept to Control New Development
Foshan Lingnan Tiandi
Mixed-Use Development
Foshan Lingnan Tiandi
Master Plan Birds- Eye View
Foshan Lingnan Tiandi
Proposed scheme
Code requirement
Current situation
典型容积率
Typical FAR
典型覆盖率
Typical Coverage
老城
Old City
1.98 70%
容积率 FAR 覆盖率 Coverage
地块 14
Parcel 14
1.5
49%
地块 4
Parcel 4
2.8
43%
容积率 FAR 覆盖率 Coverage
地块 14
Parcel 14
1.6 32%
地块 4
Parcel 4
2.827%
4
14
Site Coverage
Foshan Lingnan Tiandi
Existing View Conditions from Zumiao Temple Courtyard
建新路
Jianxin Road
人民路
Renmin Road
祖庙庭院
Zumiao Temple Courtyard
可见部分visible
祖庙庭院
Zumiao Temple Courtyard
南向视线Looking South 北向视线
Looking North
Concept of “Hills and Valleys”
Foshan Lingnan Tiandi
1
2
建议道路 Proposed Roadways
1, 2 需要搬迁的传统建筑 Traditional Buildings to be Relocated
各级文物建筑
保存良好的传统建筑
需要立面和内部改造的传统建筑
保留肌理和尺度的改造
1
2
Combine New Roads and Preserved Pedestrian Pathways
Foshan Lingnan Tiandi
Underground Retail Diagram
Foshan Lingnan Tiandi
Open Space Network
Foshan Lingnan Tiandi
Open Space Network: Zumiao Temple ParkExpand the Zumiao Temple public space, restoring the traditional space, reopen the east entrance
Foshan Lingnan Tiandi
Projects under development
Lot D 酒店式公寓 Service Apartment
Lot Gos 公共绿化Public Green Space
Lot 4,14,5&15 高尚住宅区High-end Residential
Lot 1 岭南新天地 LNTD
Foshan Lingnan Tiandi
Lot E 综合体Apartment & Shopping
Mall
Lot A 综合体Mixed use develop
ment
Foshan Lingnan Tiandi
Foshan Lingnan Tiandi
The Main Development Concept
Foshan Lingnan Tiandi: Adaptive Reuse development
Original Appearance
Foshan Lingnan Tiandi: Adaptive Reuse development
Historical Building Revision – Levels of protection
Foshan Lingnan Tiandi: Adaptive Reuse development
Function
Foshan Lingnan Tiandi: Adaptive Reuse development
Sustainable Site Design
Transit based, pedestrian friendly masterplan
Mixed use, high density, walkable blocks
Landscape Design
Transportation and Circulation
Energy Strategies
Water & Wastewater Management
Solid Waste Management
Air & Indoor Environmental Quality
Social Benefits and Community Development
Third Party Certification
SOL’s Sustainable Development Framework
Foshan Lingnan Tiandi
Rendering Original
Restoration of Jian Shi Villa ( 简式别墅 )
Foshan Lingnan Tiandi: Adaptive Reuse development
Jianshi Mansion ( 简式别墅 ) Central Plaza
Foshan Lingnan Tiandi: Adaptive Reuse development
Creating Memorable Streets
Foshan Lingnan Tiandi: Adaptive Reuse development
Under Construction
Foshan Lingnan Tiandi: Adaptive Reuse development
Restoration and architectural transformation of historical buildings
Phase 1 retail street view: restoration of 4 historical buildings Restoration of a provincial-level protection unit: Jianshi Mansion
Restoration of a protection unit- Li Zong Sheng old shop Restoration of a protection unit - the Wine Club
Foshan Lingnan Tiandi: Adaptive Reuse development
Restoration and architectural transformation of historical buildings
Foshan Lingnan Tiandi: Adaptive Reuse development
Enchanting scenery of the streets
Foshan Lingnan Tiandi: Adaptive Reuse development
View from the window A vibrant space in the yard
Enchanting scenery of the streets
Foshan Lingnan Tiandi: Adaptive Reuse development
Enchanting scenery of the streets
Foshan Lingnan Tiandi: Adaptive Reuse development
Foshan Lingnan Tiandi: Public Space by historic temple
Foshan Lingnan Tiandi: Public Space at historic temple
Foshan Lingnan Tiandi: Lot Gos Public Space
Foshan Lingnan Tiandi: Lot Gos Public Space
Foshan Lingnan Tiandi: Hotel & Service Apartment
Foshan Lingnan Tiandi: Hotel & Service Apartment
Foshan Lingnan Tiandi: Hotel & Service Apartment
Foshan Lingnan Tiandi: Residential
Foshan Lingnan Tiandi: Residential
Foshan Lingnan Tiandi: Residential
Foshan Lingnan Tiandi: Residential
Lot e mixed use development exterior
Foshan Lingnan Tiandi: Residential
Foshan Lingnan Tiandi: Shopping Mall & Residential
Foshan Lingnan Tiandi: Shopping Mall & Residential
Foshan Lingnan Tiandi: Shopping Mall & Residential
Lingnan Tiandi - Awards
AIA National, Institute Honor Award for Regional and Urban Design 2009
AIA San Francisco Chapter, Urban Design Honor Award, March 2009
AIA California Council Merit Award for Urban Design 2009
AIA Hong Kong, Urban Design Merit Award 2008
MIPIM ( 国际房地产交易会 )and Architectural Review, Regeneration and Masterplanning, Commended 2009
Foshan Lingnan Tiandi
Foshan Lingnan Tiandi: sustainability
LEED-Neighborhood Development--stage two certified Gold
III. Conclusion
Perspective of a developer
To encourage the growth of sustainable development in China, we believe we need to start with encouraging a sustainable lifestyle in a broad sense:
Less car-dependent, greater emphasis on the pedestrian
Mixed use development
Enhance the economic growth of the city
Attention to and respect for the local culture and history
Need density, avoid sprawl
Urban redevelopment is important part of the solution
Create memorable places for human interaction
Search for practical sustainable techniques that can be implemented on a large scale, starting during planning stage
A sustainable lifestyle
TPQ SOP 25/F LEED-CI Silver Cert
TPQ SOP 26/F LEED-CI Silver Cert
CQ B11 LEED-CS Gold Pre-cert
CQ B3 LEED-CS Gold Pre-cert
KIC Hub II LEED-CS Silver Pre-cert
KIC Lot 5-5 , 5-7 , 5-8 LEED-CS Gold Pre-cert
TPQ Lot 126 LEED-CS Gold Pre-cert
TPQ Lot 127 LEED-CS Gold Pre-cert
WH A4 LEED-CS Gold Cert (Stage 2)
WH A5 LEED-CS Gold Cert
CQ Master Plan LEED-ND Gold Cert (Stage 2)
FS Master Plan LEED-ND Gold Cert (Stage 2)
WH Master Plan LEED-ND Gold Cert (Stage 2)
KIC Hub Office LEED-CI Gold Cert
KIC Lots 5-3, 61-B LEED-CS Platinum Pre-cert
DL D22/D14 LEED-CS Gold Pre-cert
SOL SGS
Company level project sustainability
45% of Shui On development are LEED registered, pre-cert or certified
THANK YOU
Foshan Lingnan Tiandi: Lot Gos Public Space
Foshan Lingnan Tiandi: Residential
Lot D hotel
Foshan Lingnan Tiandi: Hotel & Service Apartment
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community
Shanghai Taipinqiao Masterplan Community: Xintiandi development
Shanghai Taipinqiao Masterplan Community: office development
Shanghai Taipinqiao Masterplan Community: public space
Sustainable Technologies Being Considered for Foshan
Green Roof /Green Wall
High performance fabric
Day lighting
Central AC for CBD
Solar hot water for domestic hot water
Photovoltaic system for street and landscape lighting
Water recycling (Rain Water & Gray Water)
Ventilated & acoustic façade
Wind catcher
Cooling wall and plaza
Encourage future green building practices
Foshan Lingnan Tiandi
Foshan Lingnan Tiandi
Community Planning Strategy
Mixed use
Master planned with flexible urban design guidelines
Phased development
Sufficient and attractive open space
Rational density
Proximity to public transit
Walkable street grids with vibrant street fronts
Restoration of historical and cultural elements, if any
Foshan Lingnan Tiandi: public space at historic temple
Zumiao Temple Street after restoration
Flowers booming on a preserved ancient tree
Corner of Li Zong Sheng old shop
Restoration and architectural transformation of historical buildings
Foshan Lingnan Tiandi: Adaptive Reuse development
Foshan Lingnan Tiandi: Hotel & Service Apartment
Located in the Guangdong Province, south China and in the hinterland of Pearl River Delta;
The third biggest city in Guangdong The major modern manufacturing base in China, a regional professional logistics ce
nter, national historical and cultural city Jurisdiction over Chancheng, Nanhai, Shunde, Sanshui and Gaoming five districts,
The city has a total land area of 3848sq.km with a permanent population of more than 5.86 million, of which household population of 3.586 million.
Foshan Overview
Foshan Lingnan Tiandi
Adaptive Reuse development
Foshan Lingnan Tiandi: Adaptive Reuse development
Create public Space at historic temple
Foshan Lingnan Tiandi
Residential development
Foshan Lingnan Tiandi: Residential
Shopping Center & Residential
Foshan Lingnan Tiandi: Shopping Center & Residential
Hotel & Service Apartment
Foshan Lingnan Tiandi: Hotel & Service Apartment
Foshan Lingnan Tiandi: Adaptive Reuse development
Master Plan
Shanghai Taipinqiao Masterplan Community: hotel development
Shanghai Taipinqiao Masterplan Community