Foreign Property News | Posted by Aye Myat Thu
The government of Shenzhen issued the technology giant Tencent plot of 809 124 square meters (8.7 million square feet) of reclaimed land for the development of a “future city” based on technology and innovation, according to an announcement of the Grant of the lands and real estate of the city. Centre.
The creator of the social networking application WeChat has agreed to pay the city a total of 8,52 billion RMB (1.21 billion usd) for the right to develop facilities dedicated to the cloud technology, medical technology, education technology, and the technology of the sport – as well as hotels, schools and apartments on the site 14 kilometers south of the international airport of Shenzhen Bao’an.
Tencent, which already employs 38 000 people in Shenzhen, also plans to build a mall, with a working area of 75,000 employees of Tencent, in the district of Bao’an.
With a total gross of two million square metres, the site will be home to six research facilities for new technologies, including cloud technology, medical technology, technology education and the technology of the sport, as well as hotels, schools and Apartments.
Given the premium land committed, Tencent pays 4 260 RMB per square meter of built-up area, for the rights of use on 30 years of the site. The first phase of the development is also planned to include a convention centre, a data centre, a sports centre and a clinic.
The city is extending its metro lines 9 and 15 on the rectangle recovered in the bay of Qianhai, which welcomes the new development, which will also have access to the 107 China National Highway linking Beijing to Hong Kong, as well as the future bridge, Shenzhen-Zhongshan, according to a account release local.
In the framework of the conditions of tender, Tencent is required to complete the project within seven years following the grant of land use rights.
According to the information available to the public, Tencent, employs 38 000 people in Shenzhen and occupies an area of combined office of approximately 700 000 square meters.
The company providing for now to increase its employee base by 13 % each year, it provides for a team of 89 000 people by 2027, which would require the company to be 1.3 million square metres of additional office space.
Ref: Property Report
