A night view of the National Exhibition and Convention Center (Shanghai), The Hub, Hongqiao Railway Station and Hongqiao International Airport (from left to right). [Photo/WeChat account: hongqiaoshangwuqu]
When asked the reason for setting up operations in Hongqiao, an investor said, "Here we can see the future of Shanghai."
Shui On Group, a Hong Kong-based real estate developer started to keep an eye on Hongqiao's development in 2004, according to Chen Chun, commercial director of Shui On Xintiandi.
"The government was planning the construction of a high-speed railway station and metro lines, paving the way for Hongqiao to become a transportation hub and international trade center," Chen said.
Today, the Shanghai Hongqiao International Central Business District (Hongqiao CBD) spans 151.4 square kilometers, and signed investment and commenced projects worth a total of nearly 120 billion yuan ($17.71 billion) in just the first eight months of 2022.
The Hub, a commercial complex developed by Shui On in the district has also witnessed a significant expansion over the past three years, with 142 new brands and a total operating area of 37,000 square meters.
The passenger flow is about 20 times of that in 2015 when The Hub was newly opened, and the sales revenue increased nearly 12 times.
A 1,200-meter underground commercial street Hubo, which spans from the Hongqiao Railway Station and Hongqiao International Airport to the National Exhibition and Convention Center (Shanghai), also made its debut in late 2022.
The advantageous transportation in the area has also attracted a number of large-scale companies to move from downtown Shanghai to Hongqiao CBD.
Being located near the Hongqiao Railway Station reduces the distance between companies and their partners in other cities in the Yangtze River Delta region and also offers employees' another daily commute option, said Zhou Kui, partner of Sequoia Capital China.
At present, Hongqiao CBD is home to nearly 4,000 trade companies, more than 60,000 private companies and over 500 company headquarters, which are examples of the advantageous flows of personnel, commodities, capital, information and data in the district.