* Information contained in this news release is current as of its date of announcement. Be aware that information contained herein is subject to change without notice.
June 25, 2021
Mitsui Fudosan Co., Ltd.
Tokyo, Japan, June 25, 2021 – Mitsui Fudosan Co., Ltd., a leading global real estate company headquartered in Tokyo, announced today that it has decided to make “Mitsui Shopping Park LaLa station SHANGHAI LIANHUA ROAD” (Chinese name: Mitsui Shopping Park 啦啦荟城(la la hui cheng) 上海莲花路) (hereinafter, “LaLa station SHANGHAI LIANHUA ROAD”) the official name of the retail facilities under development in a station building directly connected to Lianhua Road Station on the Shanghai Metro Line 1 in the Minhang District of the city of Shanghai. The logo design of the retail facilities was also decided and announced together with the official name. The retail facilities will be the Mitsui Fudosan Group’s first overseas retail facilities in a station building. The retail facilities will be opened in phases, with the full opening of the whole complex scheduled within 2021.
Building exterior of LaLa station SHANGHAI LIANHUA ROAD
The name “Mitsui Shopping Park LaLa station SHANGHAI LIANHUA ROAD” highlights its inclusion in Mitsui Fudosan’s series of retail facilities by carrying forth the “Mitsui Shopping Park” and “LaLa” names, which are shared in common with retail brands such as “Mitsui Shopping Park LaLaport” and “Mitsui Shopping Park LaLa garden,” and by using the same logo mark. Moreover, the name includes the word “station” so that visitors can appreciate the fact that the retail facilities are located in a station building, and that the retail facilities complex is one they can enjoy, stop by and find refreshed anew every day. The name expresses the idea that the retail facilities offer convenience by allowing visitors to buy whatever they want, whenever they want and propose highly sophisticated lifestyles.
The retail facilities complex is located in the Minhang District in the southwest of Shanghai, near the city center. The Minhang District constitutes the most populous administrative district (approximately 2.43 million people) within the Puxi historic center of Shanghai. Lianhua Road Station, which is the project site where the retail facilities complex is located, handles approximately 100,000 passengers per day. A bus terminal is located in front of the station with 32 routes operating, making the location a highly convenient transportation hub.
The concept of the retail facilities complex is “My favorite THIRD PLACE.” The station lies in an intermediate location between home (the first place) and settings such as workplaces or school (the second place). Mitsui Fudosan aims to transform the station from a mere hub for transportation and movement to a place where local residents can interact and the entire neighborhood is lively. By doing so, Mitsui Fudosan aims to create a retail facility complex that residents of the city will be proud to have in their neighborhood.
In the run-up to the opening of the retail facilities complex, a station opening ceremony was held on June 25, 2021. Participants included Mitsui Fudosan, along with related parties from Shanghai Shentong Metro Group Co., Ltd. (Shanghai Metro) and the Minhang District government. The ceremony unveiled the new Lianhua Road Station to the general public.
At the station opening ceremony
Mitsui Fudosan aims to create a retail facilities complex that is strongly supported by customers through a diverse store mix ranging from daily stores closely tied to everyday life, to highly trend-conscious stores that provide customers with exciting opportunities to discover new things and experiences. Mitsui Fudosan will also capture user demand from morning to night by making the most of the features of retail facilities in a station building.
The decision has been made to welcome DISTRII banban, a shared office brand of the AgiiPlus Group, as a tenant on the fifth floor. New lifestyles and work styles will be proposed by the retail facilities complex. It will serve as a hybrid facility where transportation, shopping and work can be completed on a one-stop basis by integrating station, retail and office functions.
The German supermarket ALDI and a food hall where guests can enjoy breakfast, lunch and dinner will be located on the first floor. These facilities will support the daily diet of customers.
The second floor will be named the Trend Zone. This area will bring together an extensive variety of highly trend-conscious stores in product categories such as fashion, sundries, and food. On the third floor, stores that support daily life will form the Lifestyle Market. The fourth floor will be occupied by restaurants and service providers that address a wide range of customer needs.
|The AgiiPlus Group’s DISTRII banban was started in 2015 by Professor Hu Jing, a former executive vice president of a company that was ranked among the world’s top 500 companies and an architect. In starting DISTRII banban, Professor Hu was guided by the principle of “making offices more convenient.” Since its inception, DISTRII banban has continued to develop as a shared office.
Currently, DISTRII banban shared offices are operated in more than 52 business areas in 8 cities (Singapore, Shanghai, Beijing, Hangzhou, Nanjing, Xiong’an, and Suzhou, Hefei) spanning 2 countries (Singapore and China). Covering a total floor area of over 480,000 m2, DISTRII banban shared offices provide high-quality services to approximately 6,000 client companies.
Sample image of a DISTRII banban shared office
|ALDI is a global supermarket chain that started in Germany. It is admired around the world and has won accolades including many awards in various European countries and the United States. With a history of 100 years, ALDI today has a network of more than 10,000 supermarkets in just over 10 countries. It has established a robust supply chain leveraging purchasing networks worldwide and ensures consistent global quality under strict quality controls. Additionally, ALDI develops supermarkets that are closely tied to local communities, providing highly cost-effective products to numerous customers.
With a carefully selected, extensive product lineup and convenient shopping experience, ALDI provides reasonably priced products to customers, thereby imparting affluence and peace of mind to their daily lives.
At the opening of ALDI
|Project Name||Mitsui Shopping Park LaLa station SHANGHAI LIANHUA ROAD (Chinese name: Mitsui Shopping Park 啦啦荟城 (la la hui cheng) 上海莲花路)|
|Location||Humin Road and Lianhua Road, Minhang District, Shanghai, China|
|Access||Direct access from Lianhua Road Station on Shanghai Metro Line 1|
|Business Format||The Mitsui Fudosan Group will lease and operate (in a master lease business) the retail section of a multi-use property that Shanghai Shentong Metro Group Co., Ltd. plans to develop and own.|
|Structure and scale||Steel structure, 5 floors above ground, 1 floor below ground
Retail section: 1F to 5F
|Site Area||Approx. 189,000 ft2 (approx.17,600 m2)|
|Total Floor Space (Retail Area)||Approx. 333,000 ft2 (31,000 m2)|
|Store Floor Space||Approx. 177,000 ft2 (16,500 m2)|
|Number of Stores||Approx. 100|
|Parking spaces||Approx. 250|
|Schedule||Opening in 2021 (planned)|
Mitsui Fudosan has been conducting business in countries and regions in Asia, in addition to the US and UK. In the retail property business, the Group has been promoting the outlet mall business in Kuala Lumpur and cities in Taiwan and the LaLaport business in Shanghai, Kuala Lumpur, and cities in Taiwan. In addition, the Group has been pushing ahead with the housing business in Singapore, Thailand, China, and cities in other Asian countries. The Group has also been conducting the hotel business in Taipei, the logistics facilities business near Bangkok, and the office buildings business in Bangalore. It has been actively pursuing business in fast-growing Asia in order to expand profits at the earliest opportunity while actively capturing growing consumer spending and contributing to local communities. Going forward, the Group will continue aiming to expand its business further. One of the aspirations of VISION 2025, the Mitsui Fudosan Group’s long-term management policy, is “to evolve into a global company.” Accordingly, the Group will continue to seek robust growth in the overseas business.
Mitsui Fudosan established a representative office in Shanghai in 2005 and Mitsui Fudosan (Shanghai) Investment Consulting Co., Ltd. in 2009 to promote housing and retail facility businesses in Shanghai and neighboring cities. On April 28, 2021, Mitsui Fudosan opened Mitsui Shopping Park LaLaport SHANGHAI JINQIAO, its first overseas LaLaport business. We aim to further expand our businesses in mainland China, mainly in the cities where we are currently developing properties.
The Mitsui Fudosan Group aims for a society that enriches both people and the planet under the principles of coexist in harmony with society, link diverse values and achieve a sustainable society, and advances business with an awareness of the environment (E), society (S) and governance (G), thus promoting ESG management. By further accelerating its ESG management, the Group will realize Society 5.0, which the Japanese government has been advocating, and contribute significantly to achieving the SDGs.
* The initiatives covered in this press release are contributing to four of the UN’s SDGs.
|Goal 8||Decent Work and Economic Growth|
|Goal 11||Sustainable Cities and Communities|