"The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has a unique geographical location, profound historical and cultural heritage, and sound industrial structure. The area promotes rapid economic and social development in the process of urban renewal," said Alvin Lau, Deputy Managing Director of Southern China of Savills, at an urban renewal forum of GBA recently.

The forum is jointly held by Savills, a British real estate services company, and Urban Land Institute (ULI) in Liwan District, attracting more than 80 participants, including practitioners of urban renewal-related enterprises, clients, and media, to exchange opinions on the way to promote the economic growth through urban renewal while optimizing the old buildings to meet new demands.

In the opening speech, Lau said that Savills had researched the nine mainland cities in the GBA in recent years to learn about local market needs and future development trends. "Savills will provide piratical solutions on the GBA's urban renewal according to each city's needs with our professional observation and intuitive interpretation," he added.

Alvin Lau, Deputy Managing Director of Southern China of Savills

The GBA's urban development is gradually changing from external expansion to the optimization of internal areas' space use and functions. Savills proposed an initiative to invite Skidmore Owings & Merrill LLP (SOM), Lufang Ludi Institute, and Chetwoods to establish an urban renewal partnership to promote high-quality regional development through urban renewal during the event.

John Lu, Guangzhou's Head of Strategic Advisory Services of Savills, said, "The next phase of urban renewal should be driven by better collaboration between the government, investors, and professional institutions, focusing on people's living experience of the areas, which is also the purpose of the establishment of the urban renewal partnership."

John Lu, Guangzhou’s Head of Strategic Advisory Services of Savills

"Shanghai has explored a working mechanism to have a professional company as a platform to direct the planner, the architect, and the appraiser cooperating in a project so that the platform can achieve comprehensive cost balance and regional development balance. Shanghai's experience is worth referring to the GBA," said Ted Yu, Senior Urban Planner and Designer of SOM.

Ted Yu, Senior Urban Planner and Designer of SOM

Chen Qianmin, Professional Director of Planning and Land Use, Urban Renewal Division of New World China, said, "Urban renewal is still an inevitable means for Guangzhou to embark on high-quality development. It is necessary to change policy-oriented thinking and give full play to the decisive role of the market in resource allocation. It requires developers to solve the current praticalproblems and consider the potential problems in operation after the transformation. In this case, the clients believe in developers with excellent market reputation and long-term investment experience."

Chen Qianmin, Professional Director of Planning and Land Use, Urban Renewal Division of New World China

Reza Esmery, Director of Chetwoods, said, "The concept of 'urban logistics' is a key issue to consider in our future urban renewal. I noticed a huge amount of shipping boxes placed near my residents in Guangzhou, which is a new need to be considered in future planning. Urban renewal should follow the trend of social development and make urban design more sustainable and convenient for people's lives."

Reza Esmery, Director of Chetwoods