Hefei department store 130 million upgrade old shop to build Bengbu core business district largest shopping center

China Securities Network News Hefei Department Store (000417, February 10 Evening announcement, the company will invest in the construction of the shopping center two project, Bengbu Hundred Family Center Store (hereinafter referred to as "central shop") for planning and reconstruction, and the Bengbu Hundred Shopping Malls (hereinafter referred to as "shopping center") to achieve integration through, Further enhance the operation of shopping malls and competitive advantage. The two-phase project covers an area of 2896.3 square meters, with a planned floor space of 32292 square meters with a total investment of about 134.15 million yuan. The company said, located in the Bangbu Huaihe Road Commercial center of Bengbu Department store, Bengbu Hundred shopping mall and Bengbu Hundred Family Blessing Center shop together operation, isolating, is the main shopping area of Bengbu market core stores. But the three stores of the monomer size is small, the layout of the industry, function upgrades, etc. by the constraints of property conditions, in particular, the central store has more than 50 years of history, equipment and facilities old aging, urgent planning and reconstruction. To this end, the company intends to be a wholly-owned subsidiary of Bengbu Shopping Mall limited liability company to invest in the construction of two-phase shopping center project, the Central store planning and reconstruction, and the integration of shopping centers to further enhance the operation of shopping malls and competitive advantage. The two-phase project covers an area of 2896.3 square meters, with a planned floor space of 32292 square meters with a total investment of about 134.15 million yuan. Planning and construction of the ground 11 floors, 2 floors underground, the total construction area of 32292 square meters. The two phase project is expected to be opened in the second half of 2015. Company said that project two after the completion of the exchange with the shopping center, the total construction area will reach 53415 square meters, the ground part of the construction area of 43105 square meters, then the volume of more scale, more rich in the industry, the company will be through the business planning and optimization of the layout of the mall to upgrade, it hit the Location is the most advantageous, set shopping, leisure, entertainment and life services as one of the integrated shopping center. After the completion of the project, the Central shop building scale than the original 23942 square meters, the property cost is relatively low, in the long run to expand the scale of operations, and further improve business performance. But the company also said that, because the center shop before demolition business benefits, although the project near the company's other supermarket stores, has a more direct diversion of alternative role, but the construction period may have a small impact on the company's operating performance. In addition, the project still has the construction process is inferior to anticipate, the competition is intense and so on risk.