CMA

CMA: CMA and Suzhou Industrial Park have broken ground for the largest shopping mall in East China. SIPJUD is owned by the SIP govt, and is the master developer of the SIP CBD, known as the Suzhou Centre. CMA and SIPJUD are developing a 7storey shopping mall and two Grade A office towers on a prime site in Suzhou Centre. This is in the heart of the western CBD of SIP, next to the scenic Jinji Lake and near the traditional city centre in Suzhou. The total development cost of the project is expected to be about Rmb6,740m, $1,331m. CMA and SIPJUD each hold a 50% stake in the JV. SIPJUD note that in 2011, Suzhou's retail sales grew faster than the national average, increasing 17.8% to Rmb283b ($56b) and is confident about the retail prospects in Suzhou. Catering to upper middle and high-income shoppers, the shopping centre offerings will include luxury brands, high-street fashion brands and family entertainment.