Top 10 commercial buildings in Asia
Business Chief Asia has examined the 10 largest commercial developments in Asia, ranking them by square footage for this month's magazine.
10. Kemang Village – 7mn sq ft
Located in the southern quarter of Jakarta, Indonesia, the Kemang Village is an integrated commercial and residential development with a total floor area of 7mn sq ft. The development centres around a 4.2mn sq ft mall developed by the Lippo Group. The Lippo Mall contains commercial locations belonging to Debenhams Department Store, Hypermart, Cinema XXI, Best Denki, Fitness First Platinum and ACE Hardware. There are also several major tenants such as Marks and Spencer, Timezone, iBox and Eatery Food Court.
9. Central Park Jakarta – 7.05mn sq ft
Central Park Jakarta is a mixed-use residential and commercial complex in West Jakarta, Indonesia, with a total floor space of 7.05mn sq ft. The complex contains 42 floors of office real estate, 56 residential floors, a nine-floor shopping mall, and a 12-floor hotel, developed and built by the Agung Podomoro Group. Central Park Jakarta received the Asia Pacific Highly Commended Retail Award, and the National Best Retail Development Award from the Asia Pacific Property Awards in 2011.
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8. Berjaya Times Square – 7.5mn sq ft
With a total build-up floor space of 7.5mn sq ft, Berjaya Times Square is the largest building in Kuala Lumpur, Malaysia. The development was officially opened in 2003 by then Prime Minister of Malaysia, Mahathir bin Mohamad. The twin tower development contains a hotel, condominium, indoor amusement park and shopping centre complex. The commercial centre is host to over 1,000 stores, 65 food outlets, and 1,200 luxury service suites. Over 2.5mn people visit the mall each month.
7. Ciputra World Surabaya – 8.1mn sq ft
Located in southern Surabaya, Java, Ciputra World Surabaya is the largest commercial building in Indonesia, with a total floor space of 8.1mn sq ft. The complex contains four residential towers named The Via, The Vue, The Viola and Sky Loft, in addition to a hotel and mall. In 2018, Ciputra World played host to the second Soerabaja Start-up Fest, an event focusing on the small-to-medium business ecosystem in Indonesia, was held in the building’s Atrium.
6. Sands Cotai Central – 9.6mn sq ft
Sands Cotai Central is a luxury resort and casino located on the Cotai Strip in Macao, China SAR. The complex has a total area of 9.6mn sq ft, and is composed of four hotels: the Conrad Macao, the Holiday Inn Macao, the Sheraton Grand Macao Hotel, and the St. Regis Macao. First opened in 2012, by architecture firm Aedas, the development cost $4.1bn, with the final resort tower opening in 2015.
5. The Venetian Macao – 10.5mn sq ft
With a total floor space of 10.5mn sq ft, also located on the Cotai Strip, The Venetian Macao is not only the largest commercial building in Macao and the largest single structure hotel building in Asia, but also the largest casino in the world. Developed and constructed by the Las Vegas Sands company in 2007, the Venetian Macao has “virtually quadrupled” the city’s annual revenue in the past decade from $7bn in 2006 to $27.6bn last year, according to the South China Morning Post, which adds: “Macau visitor arrivals have expanded from 22mn to a projected 32mn this year.”
4. Beijing Capital International Airport Terminal Three – 10.61mn sq ft
With a total footprint of 10.61mn sq ft, Beijing Capital International Airport Terminal Three is the largest air transport operation in China, and the central hub for government-owned Air China. Opened in 2008, for the Summer Olympics, Terminal Three has since steadily climbed the ranks to become the world’s second-busiest airport, after Hartsfield-Jackson Atlanta International. According to the National, passenger traffic reached 95.8mn last year, a new record but perhaps unsurprising since China is set to be the world’s biggest aviation market by 2022.
3. CentralWorld – 11.02mn sq ft
Located in Bangkok, CentralWorld is the largest retail complex in Southeast Asia, with a total footprint of 11.02mn sq ft. Originally named The World Trade Centre, CentralWorld opened as an eight-floor mall in 1990, expanding and rebranding in 2001, 2006, and 2016, with current renovations expected to be completed by the end of 2018. According to Bangkok.com, CentralWorld is 30% larger than any other shopping mall in the city’s centre, and comprises over 500 shops, 100 restaurants and cafés and 15 cinemas. Centralworld is owned by Pattana PLC, which has maintained an above 90% occupancy rate of the mall’s locations, despite socio-political unrest in 2010.
2. New Century Global Centre – 18.9mn sq ft
Located in the Sichuan Province of southwestern China, the New Century Global Centre opened its doors in 2013 and is currently the largest free-standing multi-purpose commercial and retail building in the world. With a total footprint of 18.9mn sq ft, the centre “is capable of housing the equivalent of 20 Sydney Opera Houses and is almost three times the size of the Pentagon in Washington, D.C.” the Independent reports. The Guardian says that according to its creators, the New Century Global Centre is "a landmark which commands the world and is looked upon by the world with respect".
1. Yiwu International Trade City – 59mn sq ft
With over 59mn sq ft of floor space housing 62,000 individual vendors which sell 400,000
types of product, Yiwu International Trade City is the largest small-commodity wholesale market in the world, according to Business Insider, and by far the most expansive building on our list. Located in the southeastern Chinese province of Zhejiang, the Yiwu International Trade City is comprised of five districts that sell 60-70% of the world’s exported Christmas decorations and toys. CNN reports: “An estimated 40,000 visitors make their way into Commodity City every day. Many of them are retail buyers,” adding that “because of the large number of visitors and their diverse backgrounds, buyers and sellers typically communicate utilizing translators that work in the market permanently”.
This article was first published in the May issue of Business Chief.
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