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September 16, 2009

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Home » Business » Real Estate

Community shopping center set to open

M Square, the first community shopping center in the city's Yuyuan Garden business area, will open in December, catering to neighborhood residents rather than tourists.

The center is part of Hong Kong Metropolis, a 1 billion yuan (US$146 million) building project by Shanghai Sin Tat Lee Property Development Co.

The development also includes an office building scheduled to open by the end of this year and three residential buildings due to be completed next year.

Located on Henan Road S., the project is just a few hundred meters from Yuyuan Garden, one of the city's main tourist attractions.

"There are many residential neighborhoods in the area, but there is not a multi-functional shopping mall for the residents now," said Liu Diguang, a director of Sin Tat Lee.

"The opening of M Square will fill in the blank,'' he said, "and showcase the development trend of shopping complexes in Shanghai: shopping centers built to cater for local communities."

Tenants of M Square include Suning Appliance, one of the leading home appliance retailers in the country, and Jiadeli Supermarket, the city's fourth biggest supermarket chain.

Hong Kong property management company MTR Corp will manage the complex.


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