China Resources Land (CR Land) Group recently bought national Land Lot No. 2015-29 in the Hengqin New Area of Zhuhai city in southern China.
It’s reported that CR Land will cooperate with Macao’s New Fenghong Real Estate Development Co., Ltd. and China Resources Trust to build the complex, named Wanxiang World, with a total investment of nearly 17.7 billion yuan. This is China Resources Land’s first project in Zhuhai.
Located in the science research and development area of west Hengqin, the project covers an area of over 221,000 square meters and a total construction area of over one million square meters. Construction is expected to start this year.
According to reports, the project will include exhibitions and fairs, factories’ direct wholesale and retail, headquarter economy and a trading platform. Its world trade center will include national pavilions, corporate pavilions, corporate joint pavilions, and a fashion industry center. Furthermore, its world lifestyle center will feature Wanxiang World Avenue, a shopping center and an entertainment center.
In addition, the project will create about 50,000 jobs, bringing tax revenue of approximately one billion yuan per year. The complex will be a unique international center for Zhuhai, further promoting the regional economic development of Guangdong, Hong Kong, and Macao.