August 10, 2021 Anna Ringstrom STOCKHOLM – The world’s largest IKEA shopping mall business, the first multipurpose retail and housing development in Changsha, southern China, has begun a flat sales process for approximately 500 units. Cindy Andersen, managing director of Ingka Centers since February, said he expects flat buyers to move in in March 2022 after the adjacent mall opened last month following a pandemic delay. Ingka Centers has 45 malls, or “meeting places,” which have been fixed by IKEA furniture stores in Europe, Russia and China under the Livat brand in China, following strategic adjustments a few years ago. The company is shifting to more entertainment and social space in its development, especially as Chinese consumers are increasingly shopping online while visiting malls for food and movies. Andersen told Reuters that one-third of Rivat Changsha Mall’s tenants are now retailers. As for housing, we are testing yet another source of income in response to China’s rapid urbanization. In addition to the apartments, Livat Changsha’s homes have a common living and working space designed and decorated in collaboration with IKEA, and we hope to appeal to teleworkers. According to Andersen, Libert Changsha Mall is the fifth in China and the first development in the entire housing market, with a July occupancy of about 95% and tenants from restaurants, sports and entertainment stores to Decathlon. It covers about 350 retail stores including UNIQLO and UNIQLO. Over 130,000 square meters. “I think we had a really good strategy before the pandemic, and now the trends we’ve already seen are accelerating,” she said. But like its parent, IKEA, Ingka Centers has a great belief in the future of physical shopping in China as long as it’s tailored to consumer expectations for service, omni-channel, and convenience. She said. “We need to continue to incorporate the retail experience into our meeting places. We are confident that this is also necessary for Chinese consumers,” she said, and Ingka Centers has added 50 internationals to its Chinese portfolio over the past 12 months. He added that he added a retail brand. “I think it comes down very much to the basic needs of people. We like to be with others and we like to be in an environment where we can experience. So we touch You can feel it, “she said. Throughout the market, Ingka Centers is experimenting with different omni-channel models and digital services in malls, testing everything from local e-commerce platforms to live shopping events. With an investment of over 4 billion yuan ($ 616.8 million) to date, Livat Changsha initially connected to Chinese social media WeChat for loyalty scheme apps, virtual reality center navigation, online restaurant queuing, Focus on sports services such as cinema tickets. purchase. According to Andersen, the program currently has about 2.3 million members in China, compared to 1.5 billion in May 2020. (Report by Anna Ringstrom, additional report by Sophie Yu in Beijing) Exclusive-IKEA mall arm diverges into a home with a new center in China [Source link](// Exclusive-IKEA mall arm diverges into a home with a new center in China