Copyright 2021 - Ningbo Life / Ningbo Expat

Commercial development surge in the eastern part of Ningbo

A picture of the Hankyu Department Store in Ningbo. (Photo by Liu Tianjia)

Hankyu Department Store in Ningbo is the first large-scale commercial project

directly invested and operated by Hankyu Hanshin of Japan overseas. As a flagship commercial project introduced by the Eastern New Town, it will bring home many international first-line luxury brands such as LV and become an important part of the Eastern New Town business district. At present, the project is near the end and is slated to open on April 16. By then, the brand power of Ningbo’s high-end retail market will be significantly enhanced, which will be a key shot for Ningbo’s commercial development in 2021.

The commercial area in Eastern New Town is taking shape

The layout of commercial complexes such as Hongtai Plaza and Eastern Intime City is being updated at an irregular basis. At present, the southern area of Hongtai Plaza has been put into use, with special facilities such as the Hongtai water dance light show and street basketball court in place, and the investment rate has increased from 78% to 90% and turnover by 75% year-on-year. Eastern Intime City has replanned its commercial area of over 25,000 square metres, focusing on the introduction of benchmark brands such as Uniqlo, Tesla and Hei Tea to enhance its commercial offerings.

Various key projects and commercial complexes along the Houtang River have formed a popular business atmosphere. Cultural platforms such as the new Ningbo Library, Ningbo City Exhibition Hall and Ningbo Science Discovery Centre extended their opening hours at night. The Cultural Square launched branded cultural activities. May Day Square organizes weekly public welfare lectures in the venue and off-site activities.

In order to further highlight the core business district status of Eastern New Town in Ningbo, Eastern New Town will also launch business district promotion activities from April 6 to May 5. It will rely on the Eastern New Town business district alliance carrier and take Hankyu Department Store, Eastern Intime City, Hongtai Plaza, Culture Square, May Day Square and other public service platforms and commercial complexes as the main activities. By combining different positioning and special advantages, it will also launch a series of activities to revitalize the flow of customers in the business district, according to the relevant person in charge at Yinzhou District Business Bureau.

Major headway in NIingbo’s business district building

In terms of creating a modern business district, Eastern New Town will continue to promote the construction of the Hankyu Department Store TOD project and turn it into Ningbo’s flagship shopping centre. It will complete the upgrading of commercial complexes such as Hongtai Plaza and East Intime City, and promote the landing or opening of brands such as The Ritz-Carlton. In the process, the focus will be on creating a central business district, attracting international first-line brands and innovating in retail models so as to foster a net-worthy economy, a night-time economy, a first-store economy and a community economy.

 

At the same time, Eastern New Town will expedite building consumer-themed and business-themed neighbourhoods, plan for a new business and commercial district around Ming Lake, develop a lake-situated neighbourhood, metro-topped, riverfront leisure, community and other businesses. It will also plan for the launch of fashion-themed, urban leisure-themed and Qiuai special-themed neighbourhoods, and strive to become the venue for events such as the International Fashion Consumption Festival and the International Food and Culture Consumption Festival to further gather business and popularity

f t g m