Core Insights - Zhejiang province opened 37 new commercial projects in 2023, with a total commercial area of approximately 2.4743 million square meters, marking a year-on-year decrease of about 31% in the number of projects, but an opening rate exceeding 80%, maintaining a leading position in the national market [1] Group 1: Market Overview - Hangzhou dominates the market with 17 new projects and a total area of 1.1504 million square meters, accounting for nearly half of the province's total, solidifying its leading position [3] - Ningbo followed with 7 new projects totaling 408,900 square meters, with notable projects like Ningbo Jiangshan Wanda Plaza recognized for urban renewal [3] - Jinhua continues its growth trend with 5 projects planned for 2025, totaling 382,000 square meters, reflecting the trend of operators penetrating into third and fourth-tier cities [4] Group 2: Project Types and Trends - Shopping centers remain the dominant project type, comprising 54% of new openings, while non-standard commercial projects account for 27%, indicating a growing demand for unique and themed commercial spaces [5] - Traditional shopping centers are innovating by incorporating park-like or street-like designs to enhance openness and social attributes, transforming commercial spaces into "lifestyle destinations" [5] - Mid-sized projects (5-10 million square meters) are the most numerous, with 12 projects, indicating a shift towards a more layered market structure [6] Group 3: Key Players and Innovations - Major operators like Longfor, Intime, and Wanda continue to deepen their presence in Zhejiang, with Wanda managing the most openings in 2023 [7] - Local emerging players are also entering the market, with innovative projects like Hangzhou Jindi T-ONE MO and Alibaba's non-standard commercial project Qincheng Park [7] - Notable projects include Hangzhou Aoyao Wanxiang Tiandi, which integrates local culture and aims to redefine urban commercial spaces [10] Group 4: Noteworthy Projects - Hangzhou North招商花园城, with a commercial area of over 240,000 square meters, has achieved a leasing and opening rate exceeding 95% [11] - Longfor Hangzhou Shangcheng Tiandi, positioned as a "park-style commercial" center, features over 270 brands and aims to enhance local quality of life [17][18] - Jindi T-ONE MO, located in the core of Hangzhou's Olympic Sports Circle, opened with over 130 brands and achieved significant foot traffic and sales in its initial days [19][21] - The Qinwang Water Street project aims to redefine urban waterfront living with a focus on aesthetics and cultural integration [23][25]

在中国房地产行业进入"存量时代"的当下，一场从"开发逻辑"到"运营逻辑"的深刻转型，正在悄然 发生。 中国金茂正是其中的先行者。 过去十年，这家以"城市运营商"著称的企业，在全国核心城市不断深化布局。而如今，它凭借"投 融建管退"的全周期资产管理能力，通过精品持有业务开辟出一条稳健而具有确定性的"第二增长曲 线"—以商业、写字楼、酒店、文旅和轻资产运营为支点，构筑覆盖城市核心至社区末梢的商业新生 态。截至2025年上半年，中国金茂持有及在营项目已达80个，总体量约360万㎡，叠加在建、待建项 目，总规模近600万㎡，覆盖北京、上海、深圳、天津、青岛、苏州、杭州、宁波、长沙等核心城市。 聚焦城市商业脉动，金茂商业版图的立体布局 作为区域品质商业，天津金茂汇展现出工业遗产改造的独特魅力。项目由伍兹贝格工作室操刀设 计，以"修旧如旧、新旧并置"为核心理念，完整保留老厂房红砖立面、桁架屋顶与煤斗群落，使百年工 业记忆与现代商业空间在光影间对话。在宁波奉化，金茂汇则以TOD商业综合体的形式落地金茂广 场，联动地铁、酒店与乐园，构建出集购物、亲子与休闲于一体的都市微度假目的地。 在览秀城与金茂汇之外，定位为精致社区商业的 ...

Group 1 - The core project "Qinwang Water Street" in Fuyang District is set to open on September 30, enhancing the commercial landscape in southwest Hangzhou [3] - The project features a total length of 430 meters and a building area of 45,000 square meters, with 25,000 square meters above ground and 20,000 square meters underground [3] - The current occupancy rate of Qinwang Water Street has reached 90%, with over 80% of merchants already in construction, covering diverse sectors such as specialty dining, cultural retail, and life services [3] Group 2 - The pedestrian bridge, part of the "City Eye" urbanization project, has completed 45% of its total construction, including the installation of the main steel box girder structure [4] - The bridge, designed with a curved shape, will connect Qinwang Water Street, the Science Museum, and Qinwang Square, enhancing connectivity and pedestrian safety [4] - The bridge is expected to be completed by the end of September, coinciding with the opening of Qinwang Water Street, and aims to improve traffic efficiency and support commercial prosperity in the area [4]