Retailing, Franchising, and Consumerism Business Intelligence in China

Intime Department Store Acquires Shopping Center In Wuhan

Intime Department Store has announced its acquisition of the entire interest of Hubei Wuluo at a price of CNY56.5 million.

Before its acquisition, Intime China and Beijing Guojun respectively owned 83.33% and 16.67% interest in Hubei Wuluo.

Hubei Wuluo was established on September 17, 2009, with a registered capital of CNY60 million. It is mainly engaged in the development and operation of Luojia Creative Park in the central business district of Wuhan, which includes a large shopping mall under construction.

Intime indicated that after its development of Luojia Creative Park, the company will have access to a property with a building area of approximately 110,000 square meters for a major modern shopping center, which will help consolidate its status in the local market as well as the central China region.

Be the first to comment on "Intime Department Store Acquires Shopping Center In Wuhan"

Leave a comment

Your email address will not be published.