TWO new shopping centers with a combined gross floor area space of more than 60,000 square meters will open this year at downtown Xintiandi area, as the city's first large-scale city-core redevelopment project continues to upgrade, according to China Xintiandi, the wholly-owned subsidiary of Shui On Land Ltd which is the developer of the mega project.
Opening of the Hubindao Shopping Center and The House will be another milestone for the Taipingqiao Redevelopment Project, a mixed-use project that consists of residential, office, retail, entertainment and cultural properties at the heart of the city, said Carrie Liu, general manager, commercial, China Xintiandi-Taipingqiao.
Under the company's plan, Hubindao Shopping Center, a five-story shopping mall with a GFA space of 57,000 square meters, will mainly house lifestyle retail and casual catering tenants while The House, a renovated project from the former 88 Xintiandi boutique hotel, will see a cluster of "innovation" themed stores. More than 80 percent of tenants at The House, which mainly cover food and beverage, retail, and cultural and art, are making their debut in Shanghai.
Both projects will be completely unveiled to the market by the end of this year, the company said.