CHINA / Travel in Shanghai
History, luxury meet on Bund
Updated: 2006-03-15 19:20
In the long history of China, the Bund is an infant. Yet in Shanghai,
where skyscrapers sprout daily and bulldozers never rest, the waterfront
along the Huangpu River retains an air of the past. European building
facades offer an untouched glimpse of the city's roaring past, when
Shanghai opened up as gateway to the world in 1842 under the provisions
of the Treaty of Nanking.
But these days, while still crowded with hordes of tourists strolling the
waterfront and posing for photos with the Oriental Pearl Tower in the
background, the Bund is quietly changing, even if the building facades
remain intact (see the story "Bund appeal" in the November 25 issue).
Three on the Bund, a luxury complex designed by architect Michael Graves,
houses businesses like the Evian Spa, where massages can run up to 1,600
yuan (US$193), and an Armani flagship store in a neoclassical building
dating from 1916.
Across the street, M on the Bund and Glamour Bar - among the first
high-end establishments to open on the Bund touting views as desirable as
the food and cocktails - are still packed on most nights. At No.5,
hipsters dance into the mornings at a new nightclub.
And now, Bund 18 is opening its doors with gourmet Cantonese food and
flagship stores for Cartier and Zegna.
"When you think of Shanghai, the first thing that pops into your mind is
the Bund. A lot of our tenants look at the Bund as a window to the
world," said Sylvia Lee, chief marketing officer for Bund 18 Real Estate
Development Ltd. "Investment from overseas has always been interested in
getting a piece of the Bund."
Now, it seems, they are getting their wish.
When Bund 18 was in the planning phase, the local government insisted
that some of its space be devoted to the waterfront's long-time industry:
banking. But then, in September 2002, Shanghai was chosen to host the
World Expo, and authorities decided to capitalize on one of the city's
most famous tourist sites. "They reconsidered some of the arrangements
along the Bund. In addition to banking, they put leisure and tourism
functions into the Bund area," said Lee.
But at what cost? Developers say they are just following the wishes of
the government in bringing luxury destinations to the Bund.
"They are targeting it to be a higher-spending area (as opposed to
middle-market areas like Nanjing Donglu). We're just following the
trend," said Lee.
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20071123 Extracted from http://www.hellomandarin.net
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