Xi’an, China – Mapletree Investments Pte Ltd (“Mapletree”) today announced that it has signed on Golden Harvest Cinema as its first anchor tenant for VivoCity Xi’an, its first retail mall in China. The mall, which is part of a 200,000 sqm luxurious integrated residential and retail development called Future City, will be the first VivoCity to be built outside Singapore. It is scheduled to open in December 2010.

Positioned as a one-stop family lifestyle mall, VivoCity Xi’an will feature a gross floor area of approximately 62,500 sqm spread over four levels (three above-ground levels and one basement floor). It will be one of the largest multi-tenanted retail formats in Xi’an, offering consumers an exciting mix of shopping, dining and entertainment options.

Mr Hiew Yoon Khong, Chief Executive Officer of Mapletree said, ““Our investment in Future City underscores the importance of China as an investment location for Mapletree. We see the potential of Xi’an as a new growth centre in China with its vibrant economy of GDP of RMB 219 million in 2008. We intend to participate in the city’s rapid urbanisation by bringing our expertise in creating vibrant integrated work-live-play environments here. We are confident that the demand for good quality residential, retail and other commercial real estate sectors will continue to see significant growth, given the growing affluence of the population of 8 million in Xi’an. Todate, despite the Sichuan earthquake of 2008 and the financial crisis of 2008/2009, we have sold more than 80% of the 1,017 residential units launched for Future City. We expect a similar healthy take-up rate for the rest of the 351 units that we will be launching soon.”

Mr Hiew added, “We are confident that the VivoCity retail and lifestyle concept will resonate with the residents of Xi’an just like it has been very well received by both locals and tourists in Singapore since VivoCity opened in October 2006. VivoCity Singapore has won numerous awards and accolades since, including being named one of the top 10 Asian mega malls by Forbes Traveller. We will similarly be incorporating the vibrant and stimulating mix of retail, entertainment and lifestyle concepts with supporting year-round calendar of activities in VivoCity Xi’an to keep the mall continually refreshed for shoppers.”

VivoCity Xi’an will be Mapletree’s first VivoCity mall outside of Singapore. The Group has plans to open more VivoCity malls in China and the rest of Asia with its second VivoCity mall in China commencing construction in Nanhai soon.

Mr Hiew continued, “Today, we are delighted to welcome Orange Sky Golden Harvest’s Entertainment (Holding) Ltd (Golden Harvest Cinema) as our anchor tenant, to share in our vision to redefine the retail experience for consumers in Xi’an.”

Golden Harvest Cinema will be taking up a total of 2,317 sqm of space, which will constitute close to 6 % of the total lettable space. Golden Harvest Cinema, the largest cinema operator across the Asian region, had through its partnership with Village Roadshow Australia, opened a 15-screen multiplex in VivoCity Singapore in 2006.

On Golden Harvest Cinema’s new operations at VivoCity Xi’an, President (PRC) of Orange Sky Golden Harvest’s Entertainment (Holding) Ltd, Mr Chen Guo Wei said,” We are happy to work with Mapletree again, this time to extend Golden Harvest Cinema’s operations to Xi’an, by opening a multiplex with 7 screens and 906 seats in VivoCity Xi’an. We hope to bring in new features which will provide movie-goers in Xi’an with a new level of cinematic experience.”

Mapletree is in advanced talks with several other retailers for a further 30% space in VivoCity Xi’an. It expects to sign on two more anchor tenants – a supermarket and a food court operator and several mini anchors in the fashion, food & beverage and entertainment trade in the next couple of months.

This Future City project is undertaken by a US$1.16 billion Mapletree-sponsored private real estate fund called Mapletree India China Fund, which invests in commercial, residential or mixed-use integrated development projects in India and China. The total investment in VivoCity Xi’an is about RMB550 million. The other assets currently in this fund include Nanhai Business City in Foshan and Mapletree Tower in Beijing.

More about Future City and VivoCity Xi’an

Future City is a 200,000 sqm integrated mixed-use development comprising four luxurious residential towers with 1,368 units and integrated with a retail component – VivoCity Xi’an. Future City was created based on Mapletree’s vision for a vibrant, cosmopolitan hub for work, live and play featuring a large retail mall to cater to today’s shopping demands, as well as modern apartments to supplement the growing needs of residents and visitors.

The modern apartments at Future City are designed to an international standard to fulfill the homeowners’ aspirations for a quality lifestyle. The residential component is linked to VivoCity Xi’an providing the residents with easy access to the mall which will feature three above-ground levels and one basement.

The project is located at the junction of Taibai Road and 2nd Ring Road. The site is easily accessible from downtown Xi’an, and located within close proximity to two important commercial centres, the Xiaozhai Business Zone and the Hi-Tech Zone.

Its catchment includes a residential population of 500,000 located within a 3-kilometre radius. Of this, approximately 150,000 are university or college students, including teaching staff and their students.