（The original title:The 23 bn yuan NWC-a new landmark project breaks ground By:Lu Xiao）
The ground-breaking ceremony for the project of New World China Land Limited ("NWC" or "the Company") was held in Hangzhou on March 25.
The project is built upon a land parcel in the Wangjiang New Town, Shangcheng District, a bid won with RMB 9.8 billion yuan in last July.
Situated at the intersection of Wujiang Road and Jinjiang Road with a floor area of 760,000 m2, the project is co-invested RMB 23 billion yuan by the five brands of NWC, namely K11 Art Mall, Rosewood Hangzhou, K11 ARTUS, K11 ATELIER and International Communities and is to be built into a new urban landmark complex integrating commercial and residential functions and even hotels.
"NWC has witnessed the massive highlights from the rapid development of the mainland cities in the past 40 years. Though we have never got involved in any business in Hangzhou before, we know that it is a city drawing much attention for its history and innovation," says Ms. Huang Shao-Mei, Echo, Chief Executive Officer of New World China. "Hangzhou has seen remarkable progress in recent years and what attracts us is its unique glamour produced by the typical South China style with urban vitality. The upcoming event of 2022 Asian Games in Hangzhou also adds to its promising prospect."
Huang noted that the high efficiency and positive take on the project by Shangcheng District government has strengthened NWC's confidence in the investment to facilitate further development of the district and the city.
As the world's innovative art museum-retail hybrid mall, K11 Art Mall has been deployed in cities including Beijing, Shanghai, Guangzhou and Ningbo. According to Huang, K11 in Hangzhou will be an artistic and cozy space featuring not only retail and catering but also spaces dedicated to art, exhibitions, workshops and salons.
"New World Hangzhou" will provide a total underground space of about 360,000 m2 with a grand sunken plaza in the shape of a ring surrounded by vegetation, an inspiration from the West Lake and gardens in south China.
K11 ATELIER high-rise office tower and K11 ARTUS artistic apartment will be located on each side of the central greenway, an artistic and commercial street which homes a bazaar and some fashion shops and which is linked to Wujiang Road station of Metro Line 1. The residential area of the complex is also linked to the metro station and the greenway by a pedestrian tunnel underground to define an efficient lifestyle.