China will get a new community shopping centre in Zhuhai, built by Walmart.
Building its first community shopping centre in China, US-based Walmart Stores is tightening its focus on the country’s growth in the market. With this move, the retailer expects to garner more control over rent and ownership of design, since it is currently dealing with high commercial rents in the country, as well as the freedom to tailor the shopping ‘experience’. The Zhuhai Mall will be situated in the southern Chinese city of Zhuhai in the Guangdong province.
The center would be built over 100, 000 square meters and will cost $97.7 million. It will be the first shopping mall in China that will constructed, developed and managed by Walmart. The premises would include at least one Sam’s Club store–Walmart’s membership-only warehouse club for affluent Chinese families–and will commence operations in 2016.
Walmart began its journey in China by opening a Walmart Supercenter and a Sam’s Club in Shenzhen in 1996. It now operates 400 retail stores in the country, with 10 outlets of Sam’s Club in eight Chinese cities.
The company had also announced on August 27, 2014 that it will be using 70 percent of its business in China for an energy efficiency program by 2017 end. The pilot program has so far seen a participation of 40 Chinese factories and at least 500 more will be invited to take part in the next three years.
The US retailer is also going to open 110 new storefronts in second, third and fourth-tier cities in China, creating 20,000 jobs.
Photo Credits: Live Trading News
