Hainan Meilan International Airport is looking to expand its commercial operations.
 
Hainan Meilan International Airport Company Limited has secured funding for a major commercial project which would see a new complex built, housing a hotel, duty free mall and flagship brand stores.

Currently known as the Station Complex, the development would have six floors above ground and two floors underground, covering a total of 275,400sq m. It is expected to cost around RMB1.9 billion (US$312.5 million).

The Station Complex will be divided into two parts: the east part will be a hotel, covering 40,000sq m; the west part will be an integrated large commercial building – covering 77,900sq m – which will house a duty free mall, brand flagship stores, boutique department stores, a shopping centre, themed restaurants, speciality restaurants and a cinema.

In an announcement on 4 December, the airport company said it had entered into an agreement with a number of banks and lenders for a term loan facility in the aggregate amount equal to US$250 million.

“The plan for the Station Complex has not yet been finalised and the implementation of such a plan needs to meet certain conditions, including the relevant governmental approval,” it added.

In 2012, as reported, income from duty free operations was the main driver of a sharp +50.1% growth in non-aeronautical revenues to RMB290.2 million (US$46.7 million) at Hainan Meilan International Airport Company Limited.

 

SOURCE: moodiereport.com
 
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