Future Land Development, a Chinese developer that recently failed in an attempt at privatisation, aims to rev up expansion into commercial property with plans to boost the number of shopping malls in its portfolio five-fold to 100 in the next three years.
Chen Deli, co-president of Future Land, said the company is aiming to own and operate shopping centres in cities in the mainland’s different tiers, with retail sales that could top 120 billion yuan (US$18 billion) by 2020.
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Source : South China Morning Post
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