Jane Chen/ Shanghai Daily news
Construction of Shanghai's largest underground shopping mall is expected to
be completed by the end of this year, according to Zhabei District's commercial
commission planning department.
The 10,000 square meters mall will be under a
40,000-square-meter greenland at the heart of what is to date the largest
property project in Zhongxing City in Zhabei, north of the city.
Because the
project is expected to attract 100,000 residents with a corresponding huge
customer flow, the shopping mall has aroused wide interest from retailers since
its planning stages, particularly hypermarket operators, according to Zhabei's
commercial officials.
Preferential policies will be offered, they
noted.
Carrefour, E-Mart and Trust-Mart are competing to enter the mall.
US-based Wal-Mart is also reportedly planning to enter. The winner is not yet
clear.
It is the greenland above the shopping mall and a nearby
parking lot that make the mall so attractive to business operators, industry
insiders pointed out.
Construction of the greenland is scheduled to be
finished next year and the parking lot, which is till under planning, will be
the biggest parking lot in the district.