The comprehensive lifestyle concept: shopping and leisure area as well as residential apartments in green setting connected to public transport
Kardan started its real estate activities in the mid-1990s and expanded these activities to China in 2005, in first instance focusing solely on developing residential apartments in the fast growing Tier 2 and Tier 3 cities, tapping into the need for housing due to the urbanization. The first steps in this new market were made with a local partner (50% stake). Since Kardan Land China's initiation, nearly 18,750 apartments have been sold, and the company has rights and land to develop another 11,150. Currently, the focus of Kardan Land China is predominantly on the development of mixed-use projects, combining shopping centers with residential and small office apartments. In November 2010, the first stand-alone retail centre, Galleria Chengdu, was opened, of which a 50% stake was sold in 2011 and the remaining 50% was sold in 2014. Kardan Land China has, however, continued as asset manager of the mall.
The current large project ‘Europark’ in Dalian, in the North West of China is a fully owned mixed-use project which comprises of a shopping center with an expected net rentable area of 65,000 sqm, and gross floor area dedicated to residential and office apartments of 100,000 sqm. Kardan sold two of the apartment buildings (A2 & B1) of the Europark project in 2014 and 2015. In addition, Galleria Dalian was opened in the summer of 2015.