"Domestic Property" YUEXIU and Beijing Hualian jointly build a project on the racetrack land, setting up a 125,000 square meter commercial center

Yuexiu Group and Beijing Hualian (SKP) officially signed a cooperation agreement in Beijing, announcing that the globally renowned "King of Stores" SKP will settle in the Guangzhou Zhujiang New Town racetrack site. According to the agreement, both parties will collaborate to construct the Guangzhou SKP project on the racetrack site, adopting the "Yuexiu Development + SKP Operations" model, planning to build a commercial center of 125,000 square meters.

Chen Qiang, Chairman of Yuexiu Group, stated that the project aims to commence construction by the end of this month and will transform the racetrack project into an international first-class livable and business-friendly urban complex integrating parks, shopping, hotels, offices, and residences within three to four years. Regarding the prospects after the project's completion, he believes that Guangzhou SKP will become a new international consumption landmark with an annual sales volume of 10 billion RMB.

Earlier, Yuexiu Group won the racetrack site for 23.6 billion RMB, setting the highest record for a single plot transaction in Guangzhou since 2010. The racetrack site is located at the core intersection of the golden triangle formed by Guangzhou Zhujiang New Town - Financial City - Pazhou, with a total land area of approximately 194,500 square meters and a total construction area of 567,000 square meters