Construction has begun on Chengdu’s first upscale European upscale shopping mall. The 86,000 sq metre Galleria is scheduled to be in trial operation by mid-2010. The mall hopes to attract clothing retailers, jewellers, restaurants, beauty salons and a cinema.

The Rmb650m project is being developed by GTC Real Estate of the Netherlands and Hong Kong’s Lucky Hope Group. GTC entered the China market in 2005, and has so far invested a total of Rmb1.6bn in seven residential and business projects in Shenyang, Xian, Hangzhou and Changzhou.

Erez Applerot, CEO of GTC China, said prices in the mall would reflect Chengdu’s consumption level. It would not sell luxury goods, he added, but instead it would target the middle class.