Apple is among the anchor tenants of the newly opened IAPM Mall in Shanghai.

The tech giant is reportedly constructing a two-storey store within the six-level mall which also houses luxury brands Prada and De Beers. The store would be its fourth in Shanghai after stores in Pudong District, Nanjing Rd and Hong Kong Plaza. The opening date has yet to be confirmed.

In July, CEO Tim Cook said China, where it plans to double its 11 store network in less than two years, poses an immense opportunity for Apple and is set to surpass the US as Apple’s biggest market.

Apple this week introduced two new iPhone models – the iPhone 5S and the cheaper iPhone 5C, which costs just $99 for a 16-gigabyte model and $199 for a 32-GB version.

Apple has also formed a deal with China Mobile that would see the world’s largest wireless operator to distribute the iPhone. China Mobile has 700 million subscribers, seven times the size of the US’s largest carrier Verizon Wireless.

Apple’s iPhone deal with China Mobile will help the Cupertino-based tech company regain some lost market share in China.