Entertainment and hospitality, a shopping village and a sports hub: an innovative mix for the project set to change how people travel in China
Jihua Park is the innovative new retail project that will contribute strongly to China’s socio-economic growth over the next ten years. Jihua Park is conceived and designed to meet the demands of new Chinese holiday-makers throughout the country. The developers’ ultimate goal is to fundamentally change the Chinese travel retail industry by creating 35 “destination centres” in selected key areas across the Chinese mainland.
The Jihua Park centres will be “touristic destination centres” and will be made up of a mix of thematic areas. Each area will have a specific function and aims to satisfy all customer requirements. There will be water-parks, skydiving, a wave house, indoor climbing, a game arcade and 7D movie theatres on site. In addition to the sports hub and entertainment areas, Jihua Park locations will also include a shopping village with international fashion brands, hotels of the highest international standards, wellness centres as well as a large number of quality restaurants.
This new bourgeoning middle class is seeing gradual changes in lifestyle, with new consumption habits such as an interest in sports and fashion. These new revenue streams are expected to constitute 55% of China’s GDP growth over the coming years. The Jihua Park project caters to this new market and 3 to 4 million visitors are expected a year. The Jihua Group decided to partner with Arcoretail, an Arcotecnica Group company specializing in consulting services and turnkey solutions for the real estate industry.
Jihua Park Chongqing will be the first development included in a network of over 35 destination centres, and is expected to open before the end of 2015. The estate will be located along the Yangtze river, 50 km from Liangjiang, a rapidly growing city.
The Jihua Group is mainly controlled by the Chinese state, with the rest of its share capital listed on the Shanghai Stock Exchange. The company is part of the XinXing Cathay International Co. Ltd. Public capital company, which is ranked 365th in the Fortune Top 500 listing (with a total turnover of 32.5 billion USD).
Arcoretail is a subsidiary of Arcotecnica Group and specialises in providing consultancy and turnkey services to the real estate sector. Its mission is to conceive and develop innovative projects with a blend of fashion, design, hospitality, sport and cultural attractions, based on Italian design excellence. The company partners with private and public sector investors to develop and manage high-end properties, guaranteeing a high return on investment. Arcoretail belongs to the Arcotecnica Group S.p.A, with a highly specialized staff of 250. At present, it is responsible for managing more than 2,500 rental contracts related to over 1,400 properties and over 850 commercial units. The real estate covers more than eight million square metres of space worth a total in excess of 332 million Euros.