Tokyo (ANTARA News/Asia Pulse) - Japan's Mitsui Fudosan Co. (TSE:8801) is developing commercial sales outlets in Ningbo, China, in partnership with Itochu Corp. (TSE:8001) and a local investment firm.

A new company has been set up through which the three will pursue the outlet business at a 116,480-sq.-meter site in Ningbo.

They hope to draw around 100 tenant stores to the first phase of the facility, which is slated to open in spring 2011. The second phase is intended to reel in another 160 stores, although its timing is still undetermined.

Tenant stores will feature name-brand apparel, sporting goods and daily necessities. The project marks Mitsui Fudosan's first foray into commercial development overseas.


Source:
Business in Asia Today - March.15, 2010
published by Asia Pulse

Editor: Ricka

COPYRIGHT © 2010

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