Shenzhen plans to add 1.62 million square meters of new commercial areas this year with over 25 new commercial projects scheduled to open, according to the Shenzhen Economic Daily. 

The planned 1.62 million square meters of new business space nearly doubles last year's newly added commercial areas (832,700 square meters).

Among the 25 new commercial projects, 20 cover more than 30,000 square meters. 

New commercial complexes such as Qinhai Uniway (with a commercial area of over 80,000 square meters) and the first Costco store in South China located in Longhua have opened. 

Next, the 228,500-square-meter K11 ECOAST complex is poised to open in Shekou by the end of this year.

Located at Taizi Bay, the complex comprises the K11 shopping and arts center, the K11 ATELIER office building, the K11 HACC multipurpose art exhibition space, and the Promenade coastal walkway.

The Wanfeng Costal City in Bao’an and Luohu Yitian Holiday Plaza will also open this year. 

Customers swamp in the Costco Wholesale Shenzhen Warehouse in Longhua District on Jan. 12. Xinhua

About 720,000 square meters of high-quality commercial projects are expected to be put into use this year, according to the report. 

Nanshan District will build six new projects with over 500,000 square meters of commercial areas in total. Bao’an District will add four new commercial projects with around 350,000 square meters of commercial areas. Longgang District plans to add about 285,000 square meters of commercial areas. 

Data showed that the number of shopping malls with over 30,000 square meters in Shenzhen exceeded 215 by the end of last year.