Gu Jia / Shanghai Daily news

The Saks Fifth Avenue Enterprise, the world largest top-brand dealer, is to open an outlet in the city within three years, according to a recently-signed contract between Roosevelt China Investments Corp. and the New Huang Pu Group Co., Ltd.
The outlet, to be located in the Waitanyuan area at the confluence of Suzhou Creek and the Huangpu River, will be the Enterprise's first business venture in East Asia.
New Huang Pu Group, the master developer of the Waitanyuan Project, has full confidence in its cooperation with Roosevelt China Investment in building Waitanyuan into a multi-functional community that will provide high-quality business services, leisure facilities and entertainment.
Besides Saks, other world-renowned groups, such as Peninsula Hotels and Rockefeller Group International, have been settling in the Waitanyuan area.