Capturing Opportunities in the Greater Bay Area

With boosted real estate business in Zhuhai, Huafa opens showroom in Hong Kong to further penetrate the market.

Founded in 1980, Huafa Holdings (formerly Huafa Group) is one of the biggest state-owned enterprises in Zhuhai. With businesses covering over 60 cities in Mainland China, the company has become one of the “China’s Top 500 companies” since 2016. The company encompasses a wide range of core businesses including urban operations, real estate development, finance and industrial investment, commerce service and technology and modern management service. 

To ride on the vast development of the Guangdong-Hong Kong-Macao Greater Bay Area (the Greater Bay Area), the real estate arm of the conglomerate has launched multiple mixed-use development projects across the multiple city cluster, including Zhuhai Centre which is located in the Zhuhai’s CBD, adjacent to Zhuhai International Conference and Exhibition Centre.    

“The Greater Bay Area Outline Development Plan emphasises the importance of the integration of the core cities with enhanced resource and increased capital mobility, which have created a big opportunity for us,” said Zhang Jun, General Manager, Centre for Marketing Management.  

With the government’s effort to make the city more livable, Zhuhai has lured many prospective buyers in Mainland China and Hong Kong in recent years. Seeing a growing interest in the Greater Bay Area properties, especially in Zhuhai, Huafa Holdings opened a showroom in Hong Kong in April 2019 to promote its portfolios. The showroom is also a platform for visitors to learn more about Zhuhai’s future development under the Greater Bay Area plan and its real estate potential. 

“Hong Kong buyers account for around eight percent of our property sales in Zhuhai, and for some projects, the proportion even reaches ten percent, which shows an exciting market opportunity,” Zhang said, “the infrastructure boom in the region, such as the Hong Kong-Zhuhai-Macao Bridge, will certainly stimulate the market in the Greater Bay Area.”

“Take our most prestigious project, Huafa Hills, as an example. It is one of our attempts to attract more high-end buyers from Hong Kong. We have involved global interior and architecture firms in the project, aiming to diversify and enhance our portfolio of luxury property development,” Zhang said. 

He added that with a combined population of about 70 million, which makes up five percent of the total population in Mainland China, the Greater Bay Area also holds enormous market opportunities that cannot be missed. 

Zhang concluded that while Hong Kong is well-known as an international financial hub, Zhuhai has achieved rapid economic growth since its establishment in the 80s. The two cities should continue to leverage their comparative advantages, strengthen regional integration and capture unprecedented opportunities arising from the Greater Bay Area.