2026，西北或增13个商业项目

Core Insights - The commercial industry is transitioning from extensive growth to a new phase focused on quality development, characterized by iterative quality, innovative scenarios, and precise operations [1] - By 2025, the commercial landscape in the Northwest region of China is expected to expand with differentiated growth, driven by leading developers and a consensus on integrating business formats and upgrading scenarios [1] - The shift in consumer demand is moving from mere functional satisfaction to emotional resonance and value recognition [1] 2025 Northwest Market Overview - A total of 19 new commercial projects are expected to open in the Northwest region, adding 1.3775 million square meters of commercial space [2] - The majority of new projects (63%) fall within the 50,000 to 100,000 square meters range, indicating a preference for medium-sized developments that balance risk and reward [4] - Xi'an is the focal point of new commercial projects, with 11 projects totaling 735,000 square meters, representing 53.3% of the total new space in the Northwest [5] Project Highlights - Notable projects include: - Xi'an GT Mall, opening on May 16, 2025, with a size of 66,000 square meters [3] - The Sand Boat (Yinchuan) Outlet, with a total investment exceeding 1.6 billion yuan and a size of nearly 200,000 square meters, featuring a mix of high-end retail and cultural tourism [17] - The Kai De Plaza (Yujin City) Phase II, which opened on December 6, 2025, with a total area of 175,000 square meters [13] Trends in Project Development - The trend of "stock renewal" is becoming significant, with 18.4% of new projects in 2025 being renovations of existing commercial spaces [7] - The market is witnessing a "single-pole siphon" effect, with Xi'an dominating new project openings while other provinces have limited new developments [5] 2026 Market Outlook - In 2026, 13 new commercial projects are planned, with a total area of 1.0795 million square meters, indicating a shift towards optimizing existing stock rather than expanding [19] - The focus on "stock renewal" is expected to increase, with five projects planned for 2026, up from three in 2025, highlighting the importance of urban renewal in the commercial market [21] Future Project Examples - The Xi'an Port Wanhua Center, with an area of 104,000 square meters, aims to serve young families and urban professionals [24] - The Urumqi Wuyue Garden City, set to open in August 2026, will feature a unique Jiangnan architectural style and is positioned as a new commercial landmark in Xinjiang [32]