Ground-breaking Ceremony Kicks off Construction of Westlake 66 in Hangzhou

Corporate Update | Sep 1, 2019

The ground-breaking ceremony for Westlake 66 in Hangzhou was held on September 17, officially beginning the construction of Hang Lung's 11th large-scale commercial project on the Mainland. Chairman Mr. Ronnie C. Chan said, “We finally found a plot that possesses the five real estate genes after 14 years of waiting” – the plot that he was referring to is exactly where Westlake 66 will be built.

Situated in the prime location of Bai Jing Fang in the Xiacheng District of Hangzhou, the site is also the only remaining large-scale site for commercial development in the district as we acquired it in May 2018. Westlake 66 will be developed into a landmark commercial complex comprising a world-class shopping mall, five Grade A office towers, and a luxury hotel. The project is scheduled for completion in phases from 2024, involving an estimated investment of around RMB19 billion.

Speaking at the ceremony, Ronnie said, “As one of the new first-tier cities, Hangzhou is experiencing rapid growth. Being a leading technology and commercial hub as well as a top tourist destination, the city has high demand for premium commercial developments. With Hangzhou’s vibrant business and consumer markets coupled with Hang Lung’s rich experience in Shanghai and other Mainland cities, we are confident that Westlake 66 will become a top commercial complex and landmark in eastern China, bringing new impetus to our business growth.”

Inspiration for the design of Westlake 66 comes from the famous natural scenery of West Lake in Hangzhou. Nature and heritage are seamlessly integrated into the design, which features ample public green space and a rooftop sky garden that brings the urban landscape into harmony with the environment. With the towers poised elegantly as the backdrop, the Hangzhou skyline will receive a gleaming renewal, while the preservation of two historically significant buildings within the complex speaks volumes for Hang Lung’s commitment to urban development that goes hand-in-hand with protecting the wealth of the nation’s cultural heritage.

Five Real Estate Genetics

  • Best Location
  • Adequate Land Size
  • Reasonable Development Brief Set by the Government
  • Wise Design
  • Quality Construction

Facts about Hangzhou

  • One of the new tier-one cities and among the wealthiest cities in China
  • Regional GDP in 2018 reached RMB1.3509 trillion, ranked as China’s 10th largest economy
  • Annual personal disposable income reached RMB54,348, number one in Zhejiang Province
  • Host city of the 2022 Asian Games

Rendering of Westlake 66

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