Shenzhen Largest Shopping Mall Opens after Months of Trial Operation
The new mall located in Bao’an and is adjacent to Qianhai area was completed last year. Constructed by the Haiya Group at the amount of 3.6 billion yuan was scheduled to open in April of 2012, then pushed back to September than December after starting trial operation in January. Although shops on the first floor of the mall remained vacant during the opening most of its spaces are already occupied by supermarkets, restaurant and a theater that is operated by the Haiya Group.
An increase in the number of shopping centers in the city makes it hard for some businesses to position themselves and bring in proper brands. Haiya Group reportedly sought well known luxury brands such as LV and Gucci but failed since most of these big names have slowed expansion due to the economic slowdown. The city will be seeing six more large scale malls to open later this year at either Bao’an or Longgang District.
Haiya Mall is not the only mall to postpone their opening due an oversupply of shopping venues in the city. Both the Happy Mall and IA Mall planned to open by the end of September but decided to postpone stating that they are not yet ready.