China Tobacco

Guangdong Tobacco Bureau will move away from a 3 billion luxury office building

Recently, the China Guangdong Provincial Tobacco Monopoly Bureau held a staff meeting to announce that the bureau will move away from the Pearl River City Building, an internationally super Grade A luxury office building with a total investment of more than 3 billion yuan, which’s located in the CBD of Guangzhou.

According to news reports, on the afternoon of August 19, the third inspection team of the central government reported the inspection situation to the State Tobacco Monopoly Administration’s party group. It was emphasized that the Guangdong Tobacco Bureau moved “in violation of regulations” when the old office building was still available before moving into the luxurious office building. According to the feedback from the central inspection team, the State Tobacco Monopoly Administration implemented rectification and ordered the Guangdong Provincial Tobacco Bureau to move away from the existing office building in the near future and find another office space.

Pearl River Tower is located at the junction of Zhujiang Avenue West and Jinsui Road in Tianhe District, Guangzhou. In 2019, the United States High-Rise Buildings and Urban Habitat Council released the “50 Most Influential High-Rise Buildings in the World in the Past 50 Years” ranking. 11 buildings in China were shortlisted, including the Pearl River Tower. The office area of the Guangdong Provincial Tobacco Bureau occupies the highest floor of the Pearl River Tower, from the 59th to the 68th, a total of 10 floors.

According to public information, the current rent of Pearl River City is 180 yuan per square meter per month. Based on the construction area of 27,000 square meters of the new office space of the Guangdong Tobacco Bureau, the annual rent and property management fees of the office area of the Pearl River City Building exceed 70 million yuan. Among them, the rent is 60 million yuan per year, and the property management fee exceeds 10 million yuan per year (the building property management fee is 32 yuan per square meter per month). There are more than 300 employees in the bureau and the per capita expenditure is 200,000 yuan.

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