An interior view of the third phase of the China World Trade Center, the latest addition to the CBD's skyscrapers. (CHEN JIANLI/XINHUA)
According to research by retail information outlet Linkshop, major CBD retail properties－including the three phases of the China World Trade Center and the Beijing Yintai Center－reported total revenue of 9 billion yuan last year, with the former contributing 7.9 billion yuan.
After the fourth phase of the China World Trade Center is completed, annual revenue is forecast to top 10 billion yuan. The fourth phase involves turning the former landmark Hotel Jen Beijing into a retail property.
Zhong Rongming, general manager of China World Trade Center, said the company needs to maintain its vigor and vitality by following the latest trends, while choosing a suitable path for its "unique identity".
The new Hotel Jen Beijing features fusion restaurants, pubs and a top-level gym to meet demand from office workers and young travelers, Zhong said.
Some shop owners feel that as the area's target customer base has shifted toward younger, middle-income consumers who want diversified experiences, it has become an ideal location for business.
Lifestyle-focused SpaceCycle is the first fitness facility to move into the China World Trade Center.
"Different from the China World Trade Center of one or two decades ago, we've observed that the business models and the community here are becoming younger and more fashionable," the company said.
"They are dynamic, well-educated, excellent in their professions, and crave a quality life. Since the area is already equipped with premium infrastructure, including restaurants, shops, hotels and entertainment facilities, as well as consumers that meet our demographics, this area is a perfect location for our business."
One of a kind
Among the buildings in the CBD, Beijing Parkview Green Fangcaodi stands out.
It is hard not to pause and gaze at this giant, modern, angular structure.
Built in 1992, Parkview Green houses high-end offices, boutique hotels and a shopping mall with carefully selected businesses that include Van Cleef & Arpels, Tesla and International Watch Co.
However, focusing on luxury lifestyle brands is not what makes Parkview Green unique.
It now features futuristic sculptures, paintings and installation artworks, which can be seen on entering the building. More than 1,000 pieces are on show, including 30 works from master surrealistic artist Salvador Dali.
Oliver Lai, general manager of Beijing Parkview Green Fangcaodi, said the property is one of a kind and refuses to replicate anything else, or to be replicated.
"Beijing is a city of fast changes, like nothing I have experienced elsewhere," Lai said. "As a business, we need to change as the world changes. We have observed the development of the Chinese economy in recent years, and people's demands are changing as the economy grows.
"Rather than saying Parkview Green Fangcaodi has brought a brand-new shopping experience to Beijing, I'd say the fast development of the city has provided the possibility to combine life with art."
Lai also said the company has a collection of masterpieces and provides visitors with space in which they can immerse themselves in art, allowing it to become part of their lives.
Parkview Green has added a new trophy to the mall's awards cabinet, recently winning the Beijing Top 10 foodie destinations award from global city guide Time Out and Winshang, a Chinese commercial property information outlet.
Guo Zengli, president of Mall China Information Center, a shopping mall information and research organization, said, "The success of Chinese shopping malls used to lie in precise marketing, but nowadays malls with a vision have entered consumers' inner world.
"Parkview Green Fangcaodi does not have a very ideal location, not being close to a subway line, but this hasn't stopped the mall from becoming an industry symbol and a city landmark, because it is very hard to imitate or duplicate Parkview Green."
