Spring City 66 in Kunming topped-out
Hang Lung Properties has held a topping-out ceremony for its Spring City 66 shopping mall and office tower in Kunming, its first entry into the southwest region of Mainland China.
Hang Lung CEO Weber Lo said Kunming is an important tourist destination and business centre in China with unparalleled development potential.
“With a customer-centric focus at the very heart of our operations strategy, we are confident that Spring City 66 will be a world-class regional mall with luxury content, bringing our customers more diverse choices, a better quality of life, and an innovative customer experience to cater to the aspirations of this burgeoning city and the people of districts nearby.”
Lo said the company has been successful in attracting internationally renowned brands to the centre, which is scheduled to open mid next year. More than 60 per cent of the space has been committed to by retailers already.
With a total investment of RMB12 billion (US$1.75 billion), Spring City 66 is Hang Lung Properties’ ninth Mainland China project after developments in Shanghai, Shenyang, Jinan, Wuxi, Tianjin, and Dalian. Since acquiring the land in 2011, which was originally where the Kunming Municipal People’s Government was located, Hang Lung has spent six years designing and building what it hopes will become a landmark in the city.
Some of the retail tenants will be brands new to Kunming and several international brands plan flagship stores in the centre.
The broader mixed-use development under construction has a total gross floor area of 432,000sqm, comprising a world-class shopping mall, a 63-story Grade A office tower, serviced apartments and car parking spaces.
Spring City 66 will be home to more than 300 international retail, dining, lifestyle, and entertainment brands.