Aeon Signs With Teda To Build Shopping Mall

Tianjin Teda Group has signed a contract with Aeon (China) Co. Ltd. to build a comprehensive shopping mall in Teda Promenades, Tianjin.

Designed by the American project management company Parsons, Teda Promenades covers a construction area of 1.2 million square meters. Of this, 105,000 square meters is alloted to the Aeon shopping mall and will be built according to Aeon's requirements. The shopping mall, which will be wholey managed by Aeon Company, consists of a Jusco supermarket, a high-end department store, an international cinema, brand specialty stores, restaurants, entertainment and other facilities, and 2,500 parking spaces. Construction of the Teda Promenades shopping mall is expected to start in July 2008 and it will be formally opened in the first half of 2010.

Aeon is a Japanese retail group with 168 companies and about 10,000 business sites worldwide — of which it has six companies and 39 stores in Greater China. It has a wide range of businesses, including supermarkets, convenience stores, commercial development, banks, finance, and service industries. Since the opening of its first China store in Hong Kong, Aeon has opened six companies in China where it manages 39 stores.