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| The Saks Fifth Avenue store will be on two adjacent sites A and B in the Waitanyan area of the northern Bund to open in spring 2009.
Site A (Bund 27) is 14,500 Square Meters of GFA on 8 levels on the Bund.
Site B is 20,000 Square Meters of GLA on 5 levels directly opposite the Peninsula Hotel site.
This development will also have mixed |
| use components including: Food &Beverage and possibly upscale residential apartments or a Boutique Hotel. |
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| Roosevelt Sino Retailers (RSR) is the exclusive licensee of the Saks Fifth Avenue brand in China and Macao. RSR is developing a flagship store on Shanghai's Bund, and has plans to develop to in major cities throughout China. As is well documented in the global press, China has built the fastest-growing major economy in the world, with annual GDP growth ranging from 9% to10%. Further, this economic growth has been concentrated in major cities, such as Shanghai, Beijing and Guangzhou, and other cities generally on the east coast of China. |
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