Mainboard-listed Ying Li International Real Estate said it has signed on key tenants and is set to launch its retail mall, in the heart of the CBD area of the Chinese city of Chongqing, in the fourth quarter of this year.
The company has signed up China’s leading cinema and entertainment group, Poly Cinema, as one of the key tenants of the IFC mall.
It will be the entertainment group’s flagship cinema multiplex in Chongqing, offering 11 theatres taking up about 5,500 square metres of floor space.
Ying Li said with a total gross floor area of 173,500 square metres, IFC mall will have a 58-storey premier Grade A office building and a nine-storey luxury retail mall.
It is also expected to be the tallest skyscraper in Chongqing upon completion.
Ying Li added that IFC mall is set to be a key financial hub, housing major international financial institutions and multi-national companies.
Looking ahead, the company said that given the strong government support to promote Chongqing as the economic growth engine of Western China, it is confident about the Chongqing real estate market.
Source : Channel NewsAsia – 11 Apr 2011