A few days ago, the original held by Alibaba Wushan Square underground space project, ushered in a new "operator" China Resources. This project will be shelved for many years to restart the development and construction process.
According to retail fair， the importance of the Wushan Plaza project was once self-evident. 2021, Ali after 36 rounds of bidding to 283 million to take the project, and plans to build Ali's new retail demonstration area. However, the plan was eventually halted with the collapse of Ali's new retail business.
China Resources entered the ownership of Wushan Plaza
Ali first put forward the new retail strategy in 2016, which also set off a new era in China's commercial market.
In the following years, Ali even regarded the "new retail" strategy as the next performance growth pole, exploring the new mode of connecting online and offline, and successively acquired Yintai Department Store, Suning Tesco, Sanjiang Shopping, Gaoxin Retail, Bailian Group and other companies, but also incubated a new species of "box horse".
In a certain period of time, the new retail really drove the rapid growth of Ali's performance. Around the re-creation of an "economic system around" idea, Ali in the field of new retail continues to soar, continue to carry out multi-industry, multi-brand exploration.
For the new retail industry, Ali will be established in early 2021, the new business group in the form of community e-commerce platform in the financial report of that year. It is understood that the community e-commerce platform is supported by the next day pickup fulfilment service and the supply capacity of Box Horse, Gao Xin Retail and other partners.
According to retail fair，Ali had said at the time that the community commerce platform was rapidly expanding its logistics and fulfilment infrastructure and planned to achieve wide coverage in mainland China within the next 12 months. This will be one of Ali's goals for the next phase of its development.
It is against that backdrop that the Wushan Plaza project was pocketed by Alibaba.
In May 2021, Wushan Plaza underground space phase I commercial land was formally offered for sale by Ali's Hangzhou Chuanfu Network Technology Co., Ltd. at 283 million yuan, with a floor price of 7,063 yuan / square metre.
The information shows that the first phase of Wushan Plaza underground space project is located in the core area of Hangzhou Wushan business circle, with a total area of about 40,000 square metres, and there are three layers of underground space, and the commercial space is mainly located in the first and second underground layers, with an area of more than 20,000 square metres.
According to retail fair，it will be constructed as a demonstration area for Ali's new retail, forming a mega commercial complex integrating new type of business, cultural landscape and transport hub. The business investment will be entrusted to Yintai Commercial Group.
However, this project, which the market has been eagerly awaiting, has not been successfully promoted. The project was originally scheduled to begin construction in February 2023, but there has been no news of construction. And then a new development came out with the news of China Resources' ownership.
According to the State Market Supervision and Administration of Anti-Monopoly Division II recently disclosed that China Resources Group's Runxin Commercial Investment (Shenzhen) Co., Ltd. and Chuanfu (Hangzhou) Property Co., Ltd. jointly set up a new joint venture, mainly engaged in commercial operation and management of commercial real estate business.
The joint venture is 64 per cent owned by China Resources and 36 per cent by Ali. As Chuanfu Hangzhou holds Wushan Square underground space a project, which also means that China Resources will be formally involved in the development of the project, and Ali's figure also faded a lot.
Ali's co-operation with CRC has been going on for a long time. Ali had signed a contract with CR Vientiane Life in 2022 for asset operation and management of Ali's commercial projects in Wuhan and Nanjing by CR Vientiane Life.
Source:联商网