The Mitsui Fudosan Group's First Overseas Retail Facilities in a Station Building
Decision to Participate in Shanghai’s First Subway Station Redevelopment Project: The Lianhua Road Station Building Retail Facilities (tentative name)
Scheduled to Open in 2020

July 12, 2018
Mitsui Fudosan Co., Ltd.

Key Points of the Project

• The Mitsui Fudosan Group's First Overseas Retail Facilities in a Station Building
• Joint Project with Shanghai Metro, Owner and Operator of Shanghai Municipal Subway
• Shanghai’s First Subway Station Redevelopment Project

Tokyo, Japan, July 12, 2018 - Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has decided to proceed with the Lianhua Road Station Building Retail Facilities (tentative name) directly connected to Lianhua Road Station on the Shanghai Metro Line 1 in the Minhang District of the city of Shanghai.

Mitsui Fudosan will carry out this project jointly with Shanghai Metro, the owner and operator of the Shanghai subway system. Shanghai Metro’s subsidiary, , will demolish the existing station building and redevelop it in the first subway redevelopment project for Shanghai Metro. The facility is 5 stories above ground and 1 floor below ground with total floor area of approx. 538,000 ft² (approx. 50,000 m²), of which the Mitsui Fudosan Group will lease the entire retail facility (with total floor space of approx. 334,000 ft² (approx. 31,000 m²) and approx. 90 stores). The Mitsui Fudosan Group will operate the complex as its first overseas retail facilities in a station building.

The project is located in the Minhang District in the southwest of Shanghai, near the city center and constitutes the most populous administrative district within the Puxi historic center of Shanghai. Lianhua Road Station, where the project will be carried out, handles approximately 110,000 passengers per day, making it the third largest in passenger numbers throughout the entire Shanghai Metro network. A bus terminal is located in front of the station with 32 routes operating, making the location highly convenient.

The development theme will be entitled “My favorite THIRD PLACE,” and it positions the station as an entity between “my home” and “somewhere public.” By creating a retail facilities complex that residents of the city will be proud to have, Mitsui Fudosan aims to transition the area from being a base for public transport into one where local residents can interact and the entire neighborhood is lively.

For commuters to the city center, students and local residents, the aim is to be a highly attractive retail facilities complex making new lifestyle proposals while being a close part of people’s lives by providing them with convenience. In addition to bolstering restaurants, the plan is for a store composition that will introduce retailers with the capability to propose solutions and the ability to transmit information. Moreover, Mitsui Fudosan plans to utilize the experience it has with retail facilities in Asia to actively encourage Japanese tenants.

Perspective image of the completed Lianhua Road Station Building Retail Facilities (tentative name)

The facility will be operated by a project company established and wholly owned by the Mitsui Fudosan Group overseas. It will draw to the maximum possible extent from the shopping center expertise, including facilities development, tenant leasing and operations, that the Group has accumulated over many years inside Japan and encompassing the Shanjing Outlet Plaza-Ningbo in Ningbo City, Zhejiang Province, its first overseas shopping center opened in China in 2011, while aiming to develop a facility to meet the needs of customers in Shanghai.

Moreover, Mitsui Fudosan is currently constructing LaLaport Shanghai Jinqiao (tentative name), which is scheduled to open in 2020 in the Jinqiao Export Processing Zone in the Pudong New Area, Shanghai.

The Mitsui Fudosan Group’s long-term management policy, Vision 2025, includes the aim to evolve into a global company, and dramatic growth overseas is expected in the future. The Group is engaged in Asian countries and regions, in addition to Western countries such as the U.S. and U.K.

In Asia, Mitsui Fudosan is actively capturing growing consumption and contributing to local areas while aggressively promoting its business to quickly expand its earnings. In Malaysia, the Company opened Mitsui Outlet Park KLIA Sepang in Kuala Lumpur in May 2015, and in Taiwan it opened Mitsui Outlet Park Linkou in January 2016. In January 2018, the Company plans to open Mitsui Outlet Park Taichung Port (tentative name), followed in 2020 by LaLaport Shanghai Jinqiao (tentative name) in Shanghai, China, and then in 2021 by Mitsui Shopping Park LaLaport Nangang (tentative name) in Taiwan and Mitsui Shopping Park LaLaport Kuala Lumpur (tentative name) in Malaysia. Mitsui Fudosan is also actively engaged in the housing business in China, Malaysia, Singapore, Thailand, Indonesia and the Philippines, and is expanding development projects in Asia.

Shanghai Metro

Name in Chinese
Name in English	Shanghai Shentong Metro Group Co., Ltd.
Business	Shanghai Shentong Metro Group Co., Ltd. will build, own and manage the subway in the City of Shanghai as a state-owned (non-listed) company under the Shanghai’s State-owned Assets Supervision and Administration Commission.
Capital	Approx. 102 billion yuan (approx. ¥1.8 trillion)

* Currently owns and operates 16 subway lines (with total route length of approx. 617 km). The current route length makes the metro network the world’s largest urban subway transit system by route length.

Project Overview

Map

Map of the surrounding area

Click map to enlarge

Close-up mapa

Retail Facilities Business Mitsui Fudosan is Currently Undertaking in Asia (as of July 2018)

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