Shiqi Metro Mall golden egg for Dasin
Acquired on June 19 last year, Shiqi Metro Mall has proved a profit booster for Dasin Retail Trust, according to its financial results for the three months to the end of March.
Dasin is the only China retail property trust providing direct exposure to the growth of the Guangdong/Hong Kong/Macau Bay Area, and has an initial focus on retail malls. Its four present malls each had 100 per cent occupancy at the end of March.
Largely because of the contribution of the Shiqi mall in Zhongshan, net property income year on year increased by 85 per cent. This was 3 per cent higher than forecast.
Opened 10 years ago, the regional mall’s anchor tenants include Gome Electronics, Jane Eyre Furniture Mall, Jinyi Cinemas, KFC, RT Mart, Starbucks, Superior City Department Store, Watsons and Xin Xuan Hotel Restaurant.
Other Dasin malls include Xiaolan Metro Mall, with tenants including Bank of China, Chow Tai Fook, KFC, McDonald’s, Pizza Hut and Sunning.
Ocean Metro Mall, which launched in December 2014, offers an integrated shopping experience including shopping, F&B and entertainment. Its tenants include Adidas, Carrefour, Jinyi Cinema, McDonald’s, Nike, Starbucks, Superior City Department Store, Top KTV and Win Fitness.
Opposite the University of Electronic Science and Technology of China (Zhongshan Institute), Dasin E-Colour was originally a furniture mall that was transformed into a community mall being being listed with Dasin Retail Trust.