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According to a recent announcement by GMI Retail Management Co. of Shenzhen, the "In City", its affiliated new-concept international "one-stop" shopping complex in Suzhou, will see completion of civil engineering in the coming July, and commencement of business a year after that.
The large-scale shopping center under construction is located at the intersection of Xiandai Avenue and Suzhou-Jiaxing-Hangzhou Expressway in SIP, about 3.5 kilometers from the downtown Guanqian Street and 10 minutes walk from the planned Central Park subway station. The building complex has a total construction area of 140,000m2 and business space of 71,000m2 for lease.
The superior location has attracted many famous businesses of international brands. Wal Mart, which is to enter Suzhou market for the first time, has already leased 20,000m2, and Good Harvest Film Group, the only film producer and distributor in Asia, will bring its movie theater into the In City. Fashion stores of Spanish Zara, Swedish H&M, German C&A are also ready to join in. Cosmetics of LVMH, ONLY, VERO, MODA, and Jack Jones, and garment Mango, sports wear Sport100, teenage girls' garment Forever-21, etc. are among the retailers of international fame here. F&B will include Starbucks, Pizza Hut, Papa John, and McDonald's.
GMI Retail Management Co. Ltd. of Shenzhen is a joint venture of Simon Property Group, Morgan Stanley Real Estate Fund, and Shenzhen ITIC Commercial Property Co., Ltd., aimed at long-term development of retail estate in China. To date, it has invested about RMB 3 billion in its first five shopping centers in Hangzhou, Suzhou, Zhengzhou, Hefei, and Changshu, with the commitments of retail giants Wal Mark and others.
(Õª×ÔSipac)
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