Some like it, some hate it, but nobody can miss it. It’s the “tree building” you can see every day when looking across the water from Cotai to Hengqin, or as it is officially called, the Phoenix Tree Tower.
Owned and built by by Zhuhai Hengqin Guokai Investment Co Ltd, Phoenix Tree Tower is located at Hengqin’s Port Service Area and is one of the key projects in Hengqin New Area. Zhuhai Hengqin Guokai Investment Co Ltd, established on 29 April 2010, is a wholly owned subsidiary of The GW Fortune Group Inc, a subsidiary of The State Development & Investment Corporation (SDIC), one of the Top 500 Enterprises in China.
The building covers 25,000 square meters and has a total floor area inside of 160,000 square meters. The 188-meter tall building, with four floors underground and 40 floors above, is shaped like a phoenix tree and cost around RMB1.38 billion (US$218 million) to build. It functions as a seven-star hotel, office building and shopping mall and has a commercial helicopter apron on its roof.
The 2nd to 5th floors of the building are the Phoenix Tree Tower Times Square, a shopping mall including high-end brands, supermarkets, food courts and leisure areas. According to reports, tenant applications for -1F and -2F are oversubscribed at 118% of the available space, while large brands from 1F to 5F are still negotiating.
6F to 16F are the building’s office premises which are currently being sold. According to the market, the average price of a 135 to 420 square meter office unit is RMB60,000 (US$9,480) per square meter.
The 17th to 34th floors are high-end residences. At present, the first batch of 90 units has been launched with the most expensive priced at RMB180,000 (US$28,450) per square meter.
The 35th to 40th floors are planned for ultra-luxury hotels. The project is currently in negotiation.
The roof, which is also referred to as the 40th floor, is a commercial apron. The Phoenix Tree Building had signed a deal with Shenzhen aviation company Astro Air to establish Hengqin’s first helicopter Fixed-Base Operator (FBO).
The FBO will utilize geographical advantages of the Hengqin Port Service Area and seek to satisfy the air service needs of Shizimen Central Business District-centered high-net-worth individuals.
Phoenix Tree Tower will offer comprehensive helicopter services such as takeoff and landing, rental and flight training for clients in Hengqin, Hong Kong, Macau and the rest of the Pearl River Delta.
In addition, Phoenix Tree will be an emergency rescue service point.
According to reports, in consideration to the current preliminary route and various factors, the cost of flying from Shenzhen or Hong Kong to Hengqin is expected to be around RMB2,000 to 3,000 (US$315 to US$475).
Launched concurrently with Inno Valley HQ on 29 June 2015, the Peking University Entrepreneurship Training Camp Hengqin Base is a nonprofit platform supporting young entrepreneurs from the Greater Bay Area including Guangdong, Macau, Hong Kong and Taiwan.
Guangdong-Macau Cooperative Development Fund Management Co. will invest RMB2 billion to ensure completion of Hengqin Science City Phase I by 2021 and the inception of Phase II.
The 2018 Hengqin-Macau Youth Entrepreneurship Training Camp held its opening ceremony on 26 October in Inno Valley HQ in Hengqin.