A shopping mall under construction in Zhengzhou will be the second property of real estate company Taubman in China.

The 1.46 million sqft shopping mall is scheduled to open by the second quarter of 2015. This is the second retail joint venture between Taubman and department store chain Wangfujing in the Chinese market and will own a majority interest in the shopping center. The remaining ownership of the shopping center will be held by Maple (Zhengzhou) Real Estate Development.

Taubman and Wangfujing announced their first retail project in Xi’an in August 2012.

The project will deliver a comprehensive shopping experience through a mix of retail shops, restaurants and entertainment facilities. The multi-level shopping center will be anchored by a Wangfujing Department Store, a supermarket, a movie cinema, children’s play area and a mix of international and local, middle to high-end brands. It will also feature a mix of food and beverage experiences.

“The project in Zhengzhou signifies our commitment to the Chinese market and our long-term partnership with Wangfujing,” said Rene Tremblay, president of Taubman Asia.

“The strategic partnership with Taubman in China resonates with our strategy to accelerate our expansion into the shopping center industry, on top of our department store business,” said Wangfujing chairwoman and president Liu Bing.

Wangfujing is currently operating two department stores in Henan province, including one in Zhengzhou, with annual revenue of one store exceeding one billion yuan.

GB