SINGAPORE (Nov 13): CapitaLand has opened Suzhou Center Mall, its first mall in Suzhou, east China and the largest mall in its portfolio.
Located in the heart of the western central business district (CBD) of Suzhou Industrial Park, next to the Jinji Lake and Suzhou city centre, the retail development is the largest mall in the city, spanning close to 300,000 sqm in gross floor area (GFA) – more than three times the size of ION Orchard in Singapore.
The sprawling Suzhou Center Mall is the centrepiece of the Suzhou Center integrated development that also comprises four Grade A office towers, two luxury residential towers and the W Suzhou hotel tower, which are all interconnected.
Anchor tenants among the mall’s over 600 brands include Suzhou’s first CGV cinemas, Suzhou’s first Fanpekka children’s theme park, an Olympic-size ice rink operated by Champion Rink, OLE gourmet supermarket and Food Member foodcourt.
About 30% of the mall’s offerings are new entrants to Suzhou, including Victoria’s Secret, Forever 21, H&M, Zara and HAY furniture store.
Lim Ming Yan, CEO of CapitaLand, says: “The successful opening of Suzhou Center Mall caps a record year for CapitaLand. Close to one million sq m of retail GFA across eight developments turned operational in 2017, marking our largest ever retail GFA offering in a single year.”
With the opening of Suzhou Center Mall, 61 out of CapitaLand’s total portfolio of 69 owned and managed malls in China are operational. Across Singapore, China, Malaysia, Japan and India, CapitaLand owns and manages 109 malls, of which 95 are operational.
Shares in CapitaLand closed at $3.58 on Friday.