Chinese department store operator Wangfujing has opened a new shopping center in Chengdu, capital of Sichuan province.
This is reportedly the second project of Wangfujing in Chengdu, following its department store opened in 1999; and it is also Wangfujing's first shopping center in the city.
Located in the south second ring road of Chengdu, the new project is invested by Beijing Wangfujing Department Store (Group) with CNY450 million. Covering a total construction area of about 100,000 square meters, the new shopping center has five floors, providing commodities, supermarket, food and beverage, and cinema. On the completion of the project, it is expected to gain annual sales of CNY1 billion.
At present, Wangfujing's existing department is expected to achieve sales of CNY3.5 billion in 2011. After the opening of the new shopping center, the department store in Chengdu will undergo a renovation in 2012.
In addition, Wangfujing reportedly has three additional shopping mall projects under discussion in Chengdu. By statistics, Chengdu will have over 100 complex projects by the end of 2011.