Beijing is a beguiling blend of ancient architecture and design and the Canal Bank, an exclusive residential enclave built in 2009, is a fitting reflection of this forward-looking capital city that also honors its past.
Boundaries
The 84-acre neighborhood, which was developed by Thaihot Group seven years ago, has 208 detached houses with 20 acres of forest. It’s located at the east of S229 highway and north of Yunchaojian River, part of the Grand Canal and a UNESCO World Heritage Site, according to Bruce Li, manager of investments and commercial of Asia Pacific Properties, a member of Luxury Portfolio International. "The area is bordered by East Third Ring to the east, Dongdaqiao Road to the west, Jianguomenwai Street to the south, and Chaoyang Road to the north," according to Michelle Liang, sales director of Beijing Sotheby's International Realty.
The development sits southeast of Sanhui Bridge, along the north bank of Yunchaojian River.
"The Canal Bank is recognized as [an] exceptional self-contained luxury development. It sits along a section of the Grand Canal at the Tongzhou District (originally a suburb) at the eastern end of Beijing," explained Mr. Li.
An illustration of the development's layout
www.thaihot.com.cn"It is a 25-minute (25 km) drive away from the Central Business District (CBD) of Beijing, and just 1.5 km away from Tongzhou town center, the new sub-administrative center of Beijing. The district is rapidly developing into another city center of Beijing and is expected to be developed as a second CBD," notes Leo P. Xiao, manager of corporate relocation of Asia Pacific Properties, a member of Luxury Portfolio International.
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Price Range
Space is not an issue in this well-planned neighborhood, but it does come at a cost. "All residences in the neighborhood are single-family homes with a garden [and come in between] 7,100 and 43,000 square feet," says Mr. Xiao. The developer is still selling units, and "prices range from 32 million yuan(US$4.8 million) to 500 million yuan(US$74 million)," he says.
Housing stock
This planned community has two very distinct housing styles, Mr. Li explains, the more modern European style (a.k.a. Thaihot Mansion) and traditional Chinese courtyard style (a.k.a. Courtyards by the Canal), though all were built in the last decade.
Pictuted is the traditional Chinese courtyard style home.
Thaihot Group"The European style is a mix of Victorian-style houses with modern features," says Mr. Li. "The traditional Chinese courtyard style was the first of its kind in modern real estate history in China and set a new standard of high-end luxury real estate not seen previously," he explains. "The developer intended to recreate the classic Chinese Garden that has more than 1,000 years of history and was the privilege of emperors, imperial families and wealthy merchants."
Pictured is the modern European style home.
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What makes it unique
The neighborhood was built with low plot ratios, meaning that population density is kept under control. Also, there’s close to 70% "greenery ratio," according to Mr. Xiao, "which is very rare in Beijing."
He continues, "It is a modern-day forest with 100-year-old trees transplanted to the private gardens and the neighborhood. The privacy, and the scarcity of low density development with greenery in a city of 22 million population totally justifies its exclusivity."
"Another feature," Mr. Xiao says, "is the recreation of the classic Chinese Garden and traditional Chinese architecture. The classic Chinese Garden creates a miniature landscape, and is meant to express the harmony that should exist between man and nature, which is one of the prominent ancient Chinese philosophical concepts. Features of the classic Chinese Garden include ponds, mini-waterfalls and an assortment of halls and pavilions connected by winding paths and zig-zag galleries."
Also, "the neighborhood sits along 800 meters of the Great Canal, which infuses another exclusive historic element to the neighborhood," he says.
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Luxe amenities in the neighborhood
Luxe amenities are all inside the boundary of the neighborhood, says Mr. Li. "The 160,000-square-foot clubhouse provides five-star amenities, including a gym, swimming pool, spa, and business center."
"Restaurants in hotels such as China World Summit Wing, Kerry Hotel and the Park Hyatt Hotel are frequented by locals," says Ms. Liang.
Private schools include Fang Cao Di International School and Chen Jing Lun Middle School. Nearby shopping malls include Yintai Center, China World Mall, Beijing Kerry Centre and The Place, according to Ms. Liang.
As for what’s on the horizon, Mr. Li notes, "Nearby Tongzhou is still in the process of developing from a suburb to city center. A five-star hotel, multinational headquarters, amusement park and tourism facility are quickly developing in the district. Major universities, including Renmin University of China, are also moving to Tongzhou. A Universal Studios amusement park, the world’s largest in terms of area, will be completed in 2019."
Who lives there?
Residents are Northern China’s wealthiest and most powerful elites and tycoons. These CEOs and high-net-worth entrepreneurs in various industries value privacy; the gated Canal Bank is ideal for keeping a low profile.
That said, among the bold-faced names who live in the area are actors Daoming Chen, Jianfeng Bao and Bing He.
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Outlook
Canal Bank’s popularity does not show signs of fading anytime soon, as Ms. Liang says, "this market has more demand than the actual homes available. It is always the hot area of Beijing city."
Mr. Li adds, "The Canal Bank is a niche market and is in a class all of its own. Owners generally do not acquire for speculation or high-yield return, but consider the acquisition valuable for its aesthetics and architecture as it blends with nature."
The resale outlook is positive in the medium and long term, he says, "as there is not much low density development inventory in Beijing. As the Tongzhou district quickly transforms to another city center, the future of Canal Bank is promising."