政府新闻
西门购物中心将重建为多功能综合体 2025-12-16
A bird's-eye view of Nanjing Road W.
Shanghai's prime shopping area, Nanjing Road W., is set for a major transformation as the shuttered Westgate Mall is slated for redevelopment into a mixed-use complex.
Last Friday, Hang Lung Properties signed a 20-year lease with Shanghai Join Buy Group to operate the 96,000-square-meter property at 1038 Nanjing Road W. The project will combine retail, office and hotel spaces, reflecting a strategic push to revitalize one of the city's most valuable commercial stretches.
"It reinforces our commitment to a customer-centric approach through curated and unparalleled experiences," said Weber Lo, CEO of Hang Lung Properties, emphasizing the company's focus on Shanghai's cultural and historical core. "The new dynamics will further strengthen the area's reputation as a hub for international lifestyle."
Xu Xing, chairman of Shanghai Join Buy Group, noted that the redevelopment "aligns with Jing'an District's strategic plan for a high-end, service-led development axis."
Isetan in Westgate Mall closed on June 2024.
Westgate Mall, anchored by Japanese department store Isetan from 1997 until June 2024, had long been a fixture of Shanghai's upscale retail scene. The site sits roughly 500 meters from Hang Lung's flagship Plaza 66, with CITIC Square in between, forming a trio of high-profile commercial landmarks. The broader complex, including offices and underground parking, closed in August 2024, except for the US Consulate General in Shanghai.
Plaza 66 hosts over 100 international brands and serves as a hub for multinational corporate offices, including the China regional headquarters for LVMH, Chanel and Hermès.
With Phase 1 and 2 of Plaza 66 covering 213,255 square meters, and a Phase 3 extension adding 3,080 square meters, Hang Lung's total portfolio on Nanjing Road W. will reach approximately 312,335 square meters once the Westgate redevelopment is complete.
The move strengthens Hang Lung's dominance along one of Shanghai's most prestigious retail corridors. It also reflects a broader trend of landlords concentrating investment on prime urban locations, betting that high-quality, mixed-use developments in central districts can better withstand shifts in consumer behavior and support long-term growth in China's commercial property market.
Source: City News Service
