Shanghai’s Lujiazui financial district is the center of the banking and finance business in China’s commercial capital, as well as being home to three of the country’s tallest towers.
While the skyline is dominated by the 88-storey Jinmao Tower, the 101-storey Shanghai World Financial Centre (SWFC) and the as-yet-unopened 123-storey Shanghai Tower, in less than twenty-five years the 32 sqkm section of Pudong District is home to some of the most ambitious real estate projects in China.
In addition to the area’s architectural marvels, Lujiazui also has been a commercial success for the Shanghai government, as well as developers who have been able to secure prized parcels in the area. Sun Hung Kai’s IFC, which is located adjacent to the Jinmao Tower currently asks RMB 25 per square metre per day ($11 per square foot per month) for office space, with average rents in the building currently at RMB 18 per square metre per month. The tower has no vacancy. The SWFC and Jinmao Tower, are also fully occupied.
Lujiazui, which perches on peninsula in the Huangpu River is home to more than 30 buildings of over 25 stories, and provides office space for more than 500 domestic and international finance firms.