29 Jun 2007
The Exchange, Tianjin (津汇广场), developed and owned by GIC Real Estate Pte Ltd (新加坡政府产业投资有限公司, GIC RE) and Hong Kong Resort International Limited, was officially launched today in Tianjin, the PRC.
The Exchange, Tianjin is the only fully integrated, mixed use development in Tianjin of its kind, spanning a total of 190,000 square metres with two Grade A 36-storey office towers, a retail mall and a deluxe hotel. The Exchange, Tianjin is strategically located along Nanjing Road in the heart of the prime commercial and trading centre and conveniently connected to the Yinkoudao Metro Interchange Station.
The first phase of The Exchange, Tianjin was completed in 2002 and consisted of The Exchange Mall, one of Tianjin’s most popular shopping destinations, and The Exchange Tower 1, a Grade A 36-storey office Tower. The high-traffic 30,570 square metres Mall offers much retail diversity such as shopping, dining and other services including banking, health and fitness. Tower 1 is home to many multinational companies including Citibank, Standard Chartered Bank, Maersk and IBM.
With the final phase completed, the newest additions to The Exchange, Tianjin are the second office tower and the 22-storey deluxe Nikko Hotel.
Hotel Nikko Tianjin will be the flagship of Nikko Hotels International in China. Aside from providing 373 spacious rooms and suites, Hotel Nikko Tianjin has the city’s largest ballroom in the commercial district with a capacity of 750 square metres.
The Exchange Tower 2 offers 39,449 square metres of Grade A office space and is equipped with state-of-the-art design and technology. It is the first office building in Tianjin with four-pipe air-conditioning system to allow tenants to have better control over the temperature of their respective offices. It has already attracted much leasing interest and confirmed tenants include Sumitomo Mitsui Banking Corporation and Heng An Standard Life Co..
Dr. Seek Ngee Huat (薛义华), President of GIC RE, said, The Exchange, Tianjin is an excellent addition to our global portfolio of properties and is our first large scale, mixed use development in the PRC. This investment shows our commitment and confidence in Tianjin’s growth potential and also the value it will bring to the city’s positioning as the Economic Centre of Northern China.
Tianjin is China’s third largest municipality of the PRC with a population of close to 11 million. Located southeast of Beijing, Tianjin has emerged as North China’s largest commercial, financial and industrial hub.
About GIC Real Estate Pte Ltd (GIC Real Estate)
GIC Real Estate is the real estate investment arm of the Government of Singapore Investment Corporation. GIC Real Estate manages a multi-billion dollar portfolio of direct and indirect property investments with over 150 investments in more than 30 countries. It is one of the largest institutional investors in Asia and currently ranks amongst the world’s top 10 global real estate investment firms.