Share
SHANGHAI: International real estate development and investment company, Star Mall Group, plans to expand its shopping mall portfolio rapidly across China over the next few years.
ShanghaiDaily.com reported that the company is focusing on second-tier cities, and plans to open its first property in the Liaoning province.
Star Mall’s chief executive officer Bulent Ulusoy said that Star Mall Shenyang Plaza would be launched in May 2011, and added that the company " will start two new projects very soon in the country as part of our aggressive plan to develop shopping malls all around China".
The company said that the location of the two malls is still under discussion. The malls will be a joint venture between FIBA Group, a Turkish conglomerate with operations covering financial services, real estate and retail, and Turkmall, an international property developer and investor.
Meanwhile, the Star Mall Shenyang Plaza is set to become one of the largest shopping malls in northeast China when it is completed, with a total investment of US$200 million (RM632.5 million) and a gross leasable space of 129,000 sq m.
The mall, which has a 45% occupancy rate, includes anchor tenants in such as fashion retailers Inditex and Bestseller, hypermarket operator Auchan, as well as a 12-screen Huayi Brothers movie theater.
ShaghaiDaily.com reported that the Huayi Brothers Media Group plans to open about seven cinemas, each having a minimum of eight screens, over the next few years across China with an investment of around 30 million yuan (RM14 million) for each cinema.
ShanghaiDaily.com reported that the company is focusing on second-tier cities, and plans to open its first property in the Liaoning province.
Star Mall’s chief executive officer Bulent Ulusoy said that Star Mall Shenyang Plaza would be launched in May 2011, and added that the company " will start two new projects very soon in the country as part of our aggressive plan to develop shopping malls all around China".
The company said that the location of the two malls is still under discussion. The malls will be a joint venture between FIBA Group, a Turkish conglomerate with operations covering financial services, real estate and retail, and Turkmall, an international property developer and investor.
Meanwhile, the Star Mall Shenyang Plaza is set to become one of the largest shopping malls in northeast China when it is completed, with a total investment of US$200 million (RM632.5 million) and a gross leasable space of 129,000 sq m.
The mall, which has a 45% occupancy rate, includes anchor tenants in such as fashion retailers Inditex and Bestseller, hypermarket operator Auchan, as well as a 12-screen Huayi Brothers movie theater.
ShaghaiDaily.com reported that the Huayi Brothers Media Group plans to open about seven cinemas, each having a minimum of eight screens, over the next few years across China with an investment of around 30 million yuan (RM14 million) for each cinema.
SHARE
