More luxury shopping malls planned in Xiamen

Updated: 03 Sep 2012
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British retailer Tesco has signed a deal with Xiamen-based property developer Good First on Friday to jointly develop a Lifespace shopping mall in Wuyuan Bay.

The Wuyuan Bay Lifespace Shopping Mall, whose construction has been completed, will become the largest shopping mall in the northeast of Xiamen Island.

Many experts have said that Xiamen has already become a sophisticated, commercial city with many shopping malls, but the number of high-end shopping malls are far from sufficient.

Luxury retailers were reluctant to enter Xiamen because they thought it was just a second-tier city with limited consumption capacity.

But the high-speed railway changed the situation. Grocers and investment companies such as Aeon, Hang Lung Properties, Uni-President Enterprises, Dashang Group, Wharf Holdings, Rainbow Department Store and Capital Group have talked to the municipal government of Xiamen for setting up department stores in Xiamen.

The third phase of SM City Xiamen, the second phase of Paragon Shopping Mall, Xiamen Dreams-on Mall are among high-end shopping malls under construction in the city.

And Capital Group is about to ink a deal to build a shopping mall in the style of an ancient Minnan style town at the northern part of the Xiamen Island. 
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