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400,000 Square Meters CBC to Appear by Jinji Lake

A foundation laying ceremony was held at 10:30 AM, April 23, to mark the commencement of the construction of Times Square, a major project of Suzhou for the year 2006. Wang Jinhua, Deputy Secretary of Municipal Party Committee and Secretary of SIP Party Working Committee, opened the "times gateway" at the ceremony to announce the onslaught of construction for the future CBD of Suzhou.

As is called by the municipal party committee and government to intensify efforts in service industry and according to the urban development strategy, the central urban district will be located in the east of the city, the CBD in SIP, and the future new city in the east of Jinji Lake.

Times Square is located on the eastern shores of Jinji Lake, between Suzhou International Expo Center and SIP Administrative Center, with a total area of 21 hectares and a constructed area of 400,000 square meters. An underground car park will accommodate some 3,000 cars. The estimated investment is 1.8 billion yuan RMB, and the whole project will take two years to complete.

The square will be constructed by SIP Urban Development Co., Ltd., the most influential commercial estate developer in Suzhou and the contractor for such real estate projects around the Jinji Lake, including Times Square, Lord Li Causeway International Waterfront Street, Lakeshore U-shaped Plaza, Yangcheng Gourmet Street, Tax Administration Building, International Building, etc. These facilities will cover the functions of shopping, entertainment, catering service, fitness gyms, leisure, and office buildings, and Times Square will be the landmark building in the CBD.

The overall planning, architectural designing, and deployment of commercial functions Times Square are carried out according to international concepts and practice. The cooperation partners in construction, designing, consultancy, and property management are all foremost professional institutions with international reputation. Previously, the market investigation was undertaken by the globally famous AC Nilson Office, urban and architectural designing by American Hok Company, commercial planning by HK experts, and property management consultancy by the world-famous First Pacific Davis.

The square will be composed of deluxe commercial office building areas, urban shopping arcades, leisure and living accommodation areas, deluxe F&B areas, and shopping malls. The shopping center will claim a floor space of 100,000 square meters, including general merchandise, international movie theater, ice skating rink, supermarket, and stores of well-known international and domestic brand goods. The commercial complex will eventually become the most thriving business center of new Suzhou city and a most influential congregation of brand names in east China.

The completion of the square will largely upgrade the commercial structure in Suzhou and create a new trend of life as the full embodiment of the new urbanism that integrates business with leisure and business activities.

Apr. 24, 2006

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