Helen Deng, Guo Huan

SHENZHEN real estate developer Kingkey will open a 120,000-square-meter shopping mall in the Mangrove Bay area in Nanshan District in early 2008, the company announced last week.

More than 10 dining, clothing, theater, and supermarket brands such as Rainbow Shopping Mall and Pizza Hut signed agreements to open shops at the Shenzhen Kingkey Banner Center, during a ceremony held at Sheraton Dameisha Resort last week.

Located at the Kingkey Yujing East housing estate, Kingkey Banner Center will be the first shopping mall at Mangrove Bay, an area dominated by high-end housing estates. “It can make up with the shortage of high-end shopping malls in Nanshan,” said Jiang Wei, general manager of Shenzhen Kingkey Banner Commercial Management Co. Ltd., the commercial estate branch of Kingkey Group.

Kingkey, a 13-year-old real estate company, has been greatly increasing its investment in commercial property since last year. In April last year, the company bought the Causeway Bay Shopping Mall in the commercial area of Huaqiangbei. Later it built a 30,000-square-meter shopping mall in Huaqiang Road South, which has become the biggest shopping mall in that area. Another 100,000-square-meter shopping mall under construction at the Caiwuwei financial area will be completed by 2010.