IHD Holdings has invested $100 million in a commercial complex in the podium of the world's third tallest observation tower, the Shanghai TV Observation Tower. Chief executive Ch'ng Poh said he expected the three-storey complex, to open this year, to be targeted at tourists. The complex will have a floor area of more than 310,000 square feet, of which about half will be for public use. In the remaining 160,000 sq ft there will be souvenir shops, restaurants and an entertainment and cultural centre. IHD's retailing arm, the Emporium department store, will be the anchor store. IHD will operate some stores and let the rest.