Uni-President Enterprises Corp (統一企業) may see its second Dream Mall (夢時代購物中心) become the largest shopping mall in the Greater Tainan area by the end of 2014 and turn a profit in the first year of operation.
The launch of T.S. Dream Mall (南紡夢時代購物中心) — in collaboration with Tainan Spinning Co Ltd (台南紡織) — is expected to provide more than 5,000 job openings, company executives said. It is also to be the only 24-hour mall in the nation.
“After receiving the building permit on September 12, the mall is scheduled to begin operations in the fourth quarter of 2014,” Tainan Spinning vice chairman Hou Po-ming (侯博明) told a press conference in Taipei.
A total of 108 brand-name tenants have signed a letter of intent to have either a counter or a shop in the 8,000 ping (26,400m2) mall, which is designed for 380 tenants, Hou said.
Vieshow Cinemas (威秀影城) are set to operate eight screens in the mall, while New Palace International Co Ltd (新天地餐飲集團) — a listed catering group in the local bourse — is to offer wedding banquet services in its restaurants in the mall.
Uni-President president Alex Lo (羅智先) said the cost of constructing and recruiting shops for T.S. Dream Mall has been much lower than that for the first Dream Mall in Greater Kaohsiung, which opened in 2007, given the company’s experience and resources.
This will make it easier and faster for T.S. Dream Mall to generate income for the company, Lo said, adding that he expects the mall may turn a profit in the first year of operation.
T.S. Dream Mall is to be built and operated by a joint venture between Tainan Spinning and Tungcheng Development Corp (統正開發), a subsidiary of Uni-President, with each taking 50 percent stake.
The joint venture, and the 380 tenants, are expected to invest more than NT$10 billion (US$340.08 million) in the mall, the company said in a statement.
The mall, as well as a 14,700 ping park, will be the first phase of the joint venture’s three-phase development plan in the region, the statement said.
For the second and the third phase of the plan, the joint venture it to develop offices and high-level residential quarters in the mall’s neighborhood, with Hotel Royal Group (老爺大酒店集團) also set to launch a hotel in the region, the statement added.