Construction News
- Guangdong News
Date: 7-Jun-2007 Sources: (Shenzhen Daily)
TESCO, one of the world's leading retailers, and Nanyou development and construction company signed a memorandum Tuesday that allows Tesco to open a shopping mall in Nanyou Building, which will be renovated into a commercial center in Nanshan District.
Nanyou Building houses the headquarters of Nanyou Group, which is expected to move to Times Plaza in Shekou next month, making way for the renovation. The structure will be rebuilt into a five-star hotel, an office building and an attached building. The attached building and the first floor of Nanyou Building's basement will be reserved for Tesco's shopping mall, according to the agreement.
Tesco, which entered China in 2004, has 48 outlets in the country. The United Kingdom's No. 1 retailer also plans to open one more outlet in Nanshan.
Sponsor Results:
