Golden Harvest Cinema the first anchor tenant for VivoCity Xian

XIAN (China): Mapletree Investments Pte Ltd has signed on Golden Harvest Cinema as its first anchor tenant for VivoCity Xian, its first retail mall in China.

Mapletree’s chief executive officer Hiew Yoon Khong said Golden Harvest Cinema would be taking up a total of 2,317 sq metres of space, which will constitute close to 6 % of the total lettable space.

Golden Harvest Cinema, the largest cinema operator in Asia had through its partnership with Village Roadshow Australia, opened a 15-screen multiplex in VivoCity Singapore in 2006.

The mall is part of a 200,000 sq metres luxurious integrated residential and retail development called Future City, the first VivoCity to be built outside Singapore. It is scheduled to open in December 2010.

“We are confident that the demand for good quality residential, retail and other commercial real estate sectors will continue to see significant growth, given the growing affluence of the population of eight million in Xian,” Hiew said in a statement Friday Jan 22.

VivoCity Xian will feature a gross floor area of approximately 62,500 sq metres, spread over four levels comprises three above-ground levels and one basement floor. It will be one of the largest multi-tenanted retail formats in Xian.

Mapletree is in advanced talks with several other retailers for a further 30% space in VivoCity Xi’an.

It expects to sign on two more anchor tenants - a supermarket and a food court operator as well as several mini anchors in the fashion, food & beverage and entertainment trade in the next couple of months.

The Group has plans to open more VivoCity malls in China and the rest of Asia with its second VivoCity mall in China commencing construction in Nanhai soon.

Hiew noted that the group has sold more than 80% of the 1,017 residential units launched for Future City and expects a similar healthy take-up for the rest of the 351 units that will be launched soon.

The Future City comprises four exclusive residential towers, complete with high quality furnishings and full recreational amenities at the clubhouse.