Top Form in Shanghai deal
TOP Form International has launched a joint venture deal with the Shanghai Yi Min Department Store General Corp to build an extensive commercial complex in the centre of Shanghai.
The six-storey redevelopment will be located at the corner of Shan Xi and Huai Hai roads. It will have a net floor area of 22,000 square metres.
Top Form production manager Mr Dickson Chan said construction had already started.
''It is expected to be completed and ready for occupation by the second quarter of next year. Half of the building will feature a department store and the other half will be taken up by food stores and offices,'' he said.
'' Building cost is expected to be about $180 million.'' The plaza will be operated by Top Form, Yi Min and Malaysian retailer Mun Loong; a public company listed on the Kuala Lumpur stock exchange.
Top Form also owns a four-storey boutique on Huai Hai Road which is expected to open in March.
Top Form has estimated the turnover for the retail operation in the first year at about $490 million; with annual growth expected at 10 per cent.
