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Guangzhou, the capital of South China's Guangdong Province is currently expecting more overseas investors to construct and operate bars and coffee shops on the city's bar street which opens on December 5.
Huang Shaojun, chairman of the Golden Swan Silver Beach Property Management Co and developer of the bar street, said bar street needs overseas support and involvement to become a new tourist attraction in the southern Chinese metropolis.
At a news conference yesterday, Huang said more than 10 overseas investors and operators have so far expressed an interest in opening bars on this street.
Overseas investors and operators have come from Italy, India, Germany, Australia, Argentina and the Hong Kong and Macao special administrative regions.
"But I hope more overseas investors will come to open their outlets in the near future," Huang added.
The first phase will have around 60 business outlets and most have already been rented out.
"A well known bar street will further improve a city's environment and raise its reputation at home and abroad. Major metropolises, including New York, Hong Kong, Shanghai and Beijing, have built their own bar streets," Huang said.
Located on Changti Road in the Fangcun District of Guangzhou and stretching 1.2 kilometers along the Pearl River, Bai-E-Tan Bar Street was based on the design of Hong Kong's famous nightlife hangout spot Lan Kwai Fong.
The architectural style and lighting has been carefully designed to accentuate the street's best features.
All the buildings that have a total construction floor space of more than 100,000 square meters have a European style.
Investment in the first phase will reach 60 million yuan (US$7.2 million), Huang said.
In addition to bars and coffee shops, the street will host restaurants, teahouses, karaoke bars and retail outlets.
A music plaza covering an area of 2,800 square meters, along with a bell tower and windmills, serves as the focal point of the street.
The bar street is just one of the 10 major commercial projects which are planned in Guangzhou within the year.
(China Daily November 28, 2002)
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