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Readers opinion
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Tianjin Office Market
Tianjin has always been near Beijing, but up until the last ten years, it was a bit of a backwater. Airbus and the creation of the Binhai New Area have put Tianjin on the map. But what does all this mean for the local office market? Are skyscrapers going up as quickly as factories? To answer these questions, it is necessary to take a general view of the whole area and, as always in China, take into consideration the government’s long-term strategy.
Tianjin is an hour by train to the east of Beijing. When people talk about Tianjin, it can be a little confusing, as one often hears the words TEDA, Tangu, and the Binhai Bay New Area all spoken in the same sentance. TEDA (Tianjin EconomicalDevelopment Area) is a conglomeration of five business parks started in Tianjin in the early- to mid-eighties. Tianjin, and later the central government, invested in TEDA heavily through infrastructure improvements and the usual SEZ tax breaks. This is where Motorola has come, and it’s where hundreds of thousands of companies are located. It has a very robust manufacturing base; with Toyota cars, food producers such as Nestle, Coca Cola, and instant noodles, not to mention large pharmaceutical companies such as GFK and others. In specialised TEDA zones, there are also chemical parks to the north and petro-chemical parks to the south. The central part of TEDA is like a mini-town, with administrative headquarters and some office developments in the Tangu area, which neighbours Tianjin port. This is where the confusion starts, because Tangu lies within the boundaries of a vast new industrial development zone called the Binhai New Area, however TEDA now operates as a separate legal entity, and is run along private-company lines. TEDA is likely to remain a force to be reckoned with, as with Waigaochao in Shanghai or BDA in Beijing have remained strong despite of further development around them.
The Binhai New Area (BNA) covers an area of 2,270 sq kilometers, the size of Singapore, and hugs the coastline in a vast north-south swathe along the coast. The general plan appears to be to take the success of TEDA and draw it out of TEDA’s 5 strongholds.
Peter Hainsworth
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ImpressMedia is an established British publishing house which over the past four years has created a series of real estate magazines in Russia. The most famous of these is Commercial Real Estate, which has become a strong brand in the Russian market, and serves as an important means of communication between suppliers and providers; as well as between real estate professionals seeking to widen their horizons. In 2003, ImpressMedia also started a yearly commercial real estate Awards ceremony, which has now become an integral part of the real estate world in Russia. John Harrison helped create 'Commercial Real Estate' magazine in Russia, and was its first editor, from November 2002 to August 2005. He has written about real estate for over a decade.
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