Apr 11, 2011
Press Release
Ying Li Secures Key Tenants, Set to Launch Landmark IFC Retail Mall in the Heart of Chongqing Jiefangbei CBD in 4Q 2011
- China’s leading Cinema and Entertainment Group taking up entire top most level of Yingli IFC Retail Mall (“IFC Mall”), operating 11 state-of-the-art halls Cineplex in the heart of Chongqing’s Jiefangbei CBD
- Received favourable responses from established local and international brands demanding for IFC Mall’s premier prime retail space
- Poised to become a retail landmark in Chongqing Jiefangbei CBD when its officially launch in 4Q2011
Singapore Exchange (SGX) Mainboard listed Ying Li International Real Estate Limited (“Ying Li” or the “Company”, and together with its subsidiaries, the “Group”) is pleased to announced that it has signed on key tenants and is set to launch its prime retail mall in the heart of Chongqing’s thriving Jiefangbei CBD in the fourth quarter of 2011.
The Company has signed up China’s leading Cinema and entertainment Group, Poly Cinema (保利国际影城) as one of the key tenants of the IFC mall, taking up entire top most level of Yingli IFC Retail Mall. It will be the Poly Cinema group’s flagship cinema multiplex in Chongqing, offering 11 theatres with 4K digital projectors taking up approximately 5,500sqm of floor space, bringing new movie experiences to movie-goers in heart of the Chongqing Jiefangbei CBD. The theatres will also be the largest in the district equipped with 18mx10m screens.
With a total gross floor area of approximately 173,500 sqm, Yingli IFC is a landmark integrated project consisting of a world class international 58-storey premier Grade A office building and a 9-storey luxury retail mall which is expected to be the tallest skyscraper in Chongqing upon completion. Strategically located within the prime Jiefangbei CBD area, Yingli IFC is set to be the key financial hub that will house major international financial institutions, offices of consulates and other multinational companies.
Similarly, the IFC retail mall is positioned to fully benefit from the Jiefangbei pedestrian street, one of the top 10 pedestrian streets of China. As a new gem in the heart of CBD, it will be the latest shopping destination, bringing a whole new level of shopping, leisure and entertainment experiences to shoppers in Chongqing, offering 9 levels of intelligently designed shopping space of popular high street fashion, sport and lifestyle shops, entertainment, restaurant and cafes, with each floor dedicated to the needs of every category of shoppers.
The Yingli IFC mall has also received very good responses and commitments from well-known international and local retail brands; the company is currently in the final stages of tenancy discussion with those retailers.
Commenting on the commitment of numerous key tenants, Ying Li’s Chairman and Chief Executive Officer, Mr. Fang Ming, said, "After going through a careful selection process of each brand’s appeal, positioning and retail concepts, we are pleased to introduce quality local and international retailer brands into the mall. We are confident IFC Mall will be the leading retail, leisure and entertainment destination in Chongqing when it is officially launched in fourth quarter this year."
With its state-of-the-art design, quality finishing and environmentally friendly features, the highly-anticipated Yingli IFC has obtained the LEED precertification Gold level award, making it the only commercial building in Chongqing’s core CBD to achieve such a prestigious title. Also, Yingli IFC was recently nominated as Chongqing 2010 Top 10 landmark building by Chongqing Morning Post.
Mr. Fang added, "We are pleased that the tentative launch of Yingli IFC is on track and our landmark project has been well-received by local and international tenants. Ying Li is a niche commercial property developer with expertise in urban renewal and construction of prime CBD high-end integrated projects. Given that the PRC government is strongly supporting the (棚户区旧城改造) urban renewal efforts together with the substantive government efforts to promote Chongqing as the economic growth engine of Western China, we are confident that the future bodes well for the Chongqing real estate market.”
“Following the success of Yingli IFC, we continue to leverage on our 18 years excellent track record and experiences to develop more prime commercial projects in Chongqing, hereby reinforcing our position as the leading commercial CBD landlord in Chongqing."
