| |
 |
Construction on large mall starts
|
Winton Dong
A GIANT shopping mall planned for the new city centre in Futian District came a step closer to reality on Monday when the project secured a 1.1 billion yuan (US$144 million) loan from the Agricultural Bank of China Shenzhen branch and other corporate investors.
With a total investment of 1.3 billion yuan, the shopping centre will boast a total construction area of 240,000 square metres. Of the total area, 180,000 square metres will be used for commercial operation and the other 60,000 will be specially for parking.
According to sponsors, upon its completion in 2004, the centre will serve not only as a symbolic commercial hub of the Pearl River Delta area, but also a popular tourist destination. Originally proposed by Zhang Gaoli, secretary of the CPC Shenzhen Municipal Committee, in 1999. According to Zhang, more and more Hong Kong residents are making the trip to Shenzhen to shop, and the city's existing department stores cannot meet the surging demand, thus making the construction of a big shopping centre an urgent necessity.
|
|
|
|
