[2007] Biguiyuan Commercial Management Reportedly to Take Over Foshan Guicheng Wanda Plaza; Company Clarifies Only Re-engagement for Small Number of Specific Positions

According to reports from mainland media, Country Garden (02007) will take over Foshan Guicheng Wanda Plaza next month. The project will be renamed “Guicheng - Phoenix Plaza” and is planned to invest tens of millions of RMB to launch a comprehensive upgrade, expected to be unveiled in October.

The renovation project is positioned as a “new generation family gathering attraction,” with a building area of 116,000 square meters. It will optimize business formats around family, parent-child, and pet-friendly scenarios, upgrade hardware facilities, and focus on creating an open outdoor children’s playground and night market economic zone. The layout of each floor will be re-planned, and supporting facilities such as mother-and-baby rooms and convenient services will be improved. Currently, tenant lease negotiations and preliminary construction preparations are underway.

Additionally, recent reports indicate that Country Garden is conducting a large-scale recall of former employees. The company clarified that there is no special plan involving a large-scale recall of former staff. Rehiring is only a routine channel to supplement key positions on a limited basis, targeting specific roles as needed.

Data shows that at the end of 2018, Country Garden had approximately 131,400 employees. By mid-2025, this number will sharply decrease to 17,900, representing a reduction of 113,500 employees over seven years, an 86% decrease.

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