No. 1 Xizhimenwai Avenue, Xicheng District, Beijing
Xizhimen Mall, a seven-level retail podium of an integrated
mixed-use development, is strategically located at Xizhimen
transportation hub, one of only two inter-modal transportation
hubs in Beijing. The mall is well-served by Beijing’s subway Line 2,
Line 13 and future Line 4, as well as the national rail and bus
interchange.
Due to its strategic location and excellent public transport
accessibility, Xizhimen Mall is well-supported by a large shopper
catchment encompassing the high flow of daily commuters
passing through the transportation hub, as well as middleclass
residents, students and working population in the nearby
Beijing Finance Street, the city’s financial district, as well as
universities and high-technology zones of Zhongguancun
District.
CRCT successfully completed the acquisition of Xizhimen Mall
Phase 1 at a purchase price of S$336 million on 5 February
2008. CRCT also exercised the rights to acquire Xizhimen
Mall Phase 2 on 29 September 2008 at a purchase price of
S$32.7 million. The acquisition is targeted to be concluded by
the end of March 2009.
Xizhimen Mall Phase 2, at 9,217 sq m of GRA, is the extension of
the mall’s existing Basement 1, which offers direct connectivity
to the adjacent subway and railway stations. We anticipate
Xizhimen Mall to enjoy a higher footfall after the progressive
opening of the extension by the end of 2009, and its positioning
as a one-stop shopping, dining and entertainment destination
in Beijing further strengthened.
