Inter Ikea, the property joint venture opening Ikea-anchored shopping centres in China says it plans to open more malls in the top 10 cities.
The venture will open its first shopping center in North China in Beijing on December 19, situated near the South Fifth Ring Rd, in the Xihongmen area. The mall covers 210,000sqm and will be home to 400 largely local retailers.
Inter Ikea Centre Group China MD Ding Hui said his company has invested more than 10 billion yuan (US$1.63 billion) on three projects – in Beijing, the Hubei provincial capital Wuhan and Wuxi, a second-tier city in Jiangsu province.
The company says the Beijing site is the largest in China measured by the area of commercial and retail floorspace. It boasts about 7000 car parks.
Inter Ikea opened its first Ikea Center in Wuxi last June – which according to Hui was swamped by 250,000 visitors in just its first three days.
Inter Ikea has built 59 centres in 19 countries since it was founded 13 years ago – and it has a further 41 in planning.
Hui describes the China version as “more than a place to shop, a place to meet”, targeting families and the “average” Chinese, not shoppers seeking luxury brands.
Source insideretail.asia