Here is a list of the day’s latest China real estate news collected from around the web:
- Tesco to open 16 more energy-efficient stores in China
British retail giant Tesco PLC will open 16 energy-efficient stores in China in 2012, a senior company official said Friday.
Lucy Neville-Rolfe, executive director of Tesco, made the remarks in an interview with reporters before attending a forum on sustainable development in retail businesses in Shanghai.
- Luk Fook to Open 30 New Jewelry Stores in China
Luk Fook Holdings opened five new shops in Hong Kong and Macau this month and will open approximately 30 new shops on Mainland China before the coming Labour Day Golden Week in May. The new stores bring the number of Lukfook Jewellery retail outlets to 870 worldwide. New stores are slated for Beijing, Guangdong, Jiangsu, Shandong, Henan and Shanxi
- Oversupply disrupts China’s retail leasing market
To see evidence of a slowing in the retail leasing market in China, you only need to take a lonely stroll through the basement level of Sanlitun SOHO, a much-anticipated development in a prime area of central Beijing. Stationed at the top of a long, empty corridor, Flour patisserie and bistro should be serving coffee, sandwiches and cakes to the well-heeled foreign and local office workers and diplomats from nearby embassies and offices.
- Chinese Retail Migrating to Suburban Outlets
Buoyed by China’s growing middle class and people’s desire for a modern lifestyle, property developers are leaving no stone unturned to cash in on the outlet industry.
According to media reports, more than 200 outlet centers have opened in China over the past decade.
- Chinese Shopping Shifts to Outlet Malls
Ten years ago, the first outlet mall in China, Yansha Outlets, opened on the Third Ring Road in Beijing by the Yansha Youyi Shopping City.
That proved to be the first tumbling rock that started a landslide. The country, the third-largest market for luxury goods, is now home to hundreds of shops that can be grouped together under the category “outlet malls”.