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Peak Growth of Raffles now
08/28/2017 changningtimes

Three major complexes subordinated to Capitaland, namely, Changning Raffles, Shenzhen Raffles and Hangzhou Raffles were lately opened simultaneously, forecasting a period of peak growth and product and brand upgrade for the brand Raffles.


Raffles Shanghai, the first complex of Capitaland in China, was opened in 2003. So far Capitaland has distributed 23 complexes in 12 first-tier and second-tier cities around China, with the total constructed area exceeding 6.2 million square meters. The brand Raffles was founded in Singapore 31 years ago and there’re now 9 of it around the globe, among which 8 are in China, respectively in Beijing, Shanghai, Hangzhou, Shenzhen, Chengdu, Ningbo and Chongqing.


Mr. Lin Mingyan, President and CEO of Capitaland, introduced, “Raffles gathers the essence of the whole industry chain of Capitaland and worldwide experience and resources. In the past 3 decades of development, it’s both an active participant in urbanization and a pioneer in the era of the Internet, as well as a major signal of commercial real estate and regional upgrade in gateway cities.”


It’s said that the three Raffles malls lately opened are representative of the second-generation complexes in the group. They’re generally of a very large business volume. To take Changning Raffles as an example, the total constructed area is about 360,000 square meters. With the upgrade of consumptions, there’re more and more business forms in the complex, covering shopping mall, office building, Ascott apartment, five-star hotel, executive mansion and boutique apartment. The architectural design adheres to the global green concept and integrates urban humanistic spirit and regional emotions. Changning Raffles not only perfectly reproduces historical landscapes and has an overall greening rate exceeding 40%, but has a lawn of 1,000 square meters rarely found in downtown areas; and Shenzhen Raffles neighbors Nanshan Park of 100,000 square meters. As for investment attraction, the shopping center boasts an investment attraction rate exceeding 95%, and concept stores and flagship brands debutting in a city take up 20% in the whole. Business forms like office building, serviced apartment and hotel have been put into operation; the letting rate of Changning Raffles T3 Office Building has reached 97%. As for service promotion, the new-generation complex tries to create smart space by technology, combines business forms and launches “Internet Plus” partnerships to boost consuming experience.


Statistics show that there’re now more than 800 commercial complexes in China. It’s general that they have large volumes and multiple business forms, but they’re usually short of individuality and innovation. Therefore, to celebrate the 30th Anniversary of the brand Raffles, Capitaland launches brand upgrade of Raffles, aiming to create a new-generation complex featuring uniqueness, high quality, interest, smart products, experience and services. In Changning Raffles, you can rent a pet’s trolley to take your love with you around the mall; in Hangzhou Raffles, an unmanned car will take consumers with shopping bags to the exact parking spaces; in Beijing Raffles, people working in office buildings can pass auto gates easily with their faces identified by the machine. All the new experience becomes possible only after the brand upgrade of Raffles.


CEO of Capitaland China Luo Zhenyu said, “The recent brand upgrade of Raffles symbolizes leaping growth of Capitaland’s complex strategy in the last 10-odd years and shapes a multi-facet complex strategy centering at Raffles. It’s not only the group’s move for future-oriented innovation and transformation but a phased leap of China’s commercial real estate, urban development and consumption upgrade. And our focus has changed from offline large-scale layout and operation to appreciation through brand effect and services of high online-offline integration.”


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