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The Top Property Developer Accelerates Investment in Second- and Third-tier Cities (From China Economic Times)

      December 29, 2010 

      Outlets “BalletTown” Project Starts in Gongqingcheng Jiangxi 

      6 months ago, Lin Zhuoyan, the BOD Chairman of outlet (china) Limited came across Li Xiaogang, the Secretary of the Party Committee of Jiaxing Gongqingcheng Development Zone. 6 months later, the “BalletTown” project formally starts in Gongqingcheng Jiangxi. 

      “BalletTown” hits the spot for Gongqingcheng who has been longing for investment. 

      “The ‘BalletTown’ project will promote the industrial development, attract consumers, strengthen logistics industry and add great value to the city.” Li Xiaogang said. The investment for this project reaches billions of dollars, showing infinite development potentials for Gongqingcheng 

      On December18, the Ground-break Ceremony of Gongqingcheng “BalletTown” Project was held. Gongqingcheng is located between Nanchang-the capital of Jiangxi Province and Jiujiang. It is by Poyang Lake and at the foot of Mount Lushan. The typical tourist resources in Gongqingcheng drew the attention of Lin Zhuoyan. He told us that Gongqingcheng would focus on eight high-end modern elements in the future.  

      “After the whole completion of this project, it will attract millions of consumers every year. The tax revenues will reach RMB 1-2 billion and indirect tax revenues will increase by RMB 1-3 billion.” Lin Zhuoyan said. Consumers of “BalletTown” will cover the whole Central China and even the East China. With huge turnover after the stable operation, it will be an important strategy for outlet (china) to expand its coverage in the central area.  

      According to the plan of outlet (china), it will make investment and construct “Outlets Modern Service Industrial Zone” in five economically developed regions in the South China, East China, Central China, North China and Northeast China. Besides, it will build “Outlets Modern Service Industrial Zone (Park)” in the municipalities and major provincial capitals, and also develop “Outlets Stylish Town” and “Holiday Shopping Village” in most provincial cities, major prefecture-level cities and scenic areas. 

      Lin Zhuoyan introduced that the “BalletTown” in Gongqingcheng would be compatible with local economic development in the purpose of creating it to be an emerging international city featured business services.  

      Local property developers are glad to see the other side of the coin. A small local real estate developer told: “the housing price around Gongqingcheng is about RMB 3000/sq.m. at present. It will surely go up after the completion of the ‘BalletTown’ project.”  

      Lin Zhuoyan revealed that he had received investment invitations from some regional governments. Outlets would expedite its expansion in the second- and third-tier cities.

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