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Silk Road holdings secures luxury designer outlet site in Guangzhou

Silk Road Holdings, the joint venture team responsible for the iconic Florentia Village Designer Outlet Centre in Wuqing Tianjin, has swooped in on a further development site in the Nanhai District of Foshan, Guangzhou, Southern China. The Guangzhou site is expected to deliver a 50,195 sqm Designer Outlet Centre to be known as “Florentia Village Guangzhou” scheduled to complete in late 2014.

Silk Road Holdings, the joint venture team responsible for the iconic Florentia Village Designer Outlet Centre in Wuqing Tianjin, has swooped in on a further development site in the Nanhai District of Foshan, Guangzhou, Southern China. The Guangzhou site is expected to deliver a 50,195 sqm Designer Outlet Centre to be known as “Florentia Village Guangzhou” scheduled to complete in late 2014.

The latest acquisition is part of Silk Road’s strategy to replicate the success of their Florentia Village Designer Outlet concept in multiple gateway cities in China over the next few years. Key reasons for selecting the Guangzhou site include its strategic location with excellent connectivity, its large catchment area with affluent target customer group, and its lack of localised competition. Florentia Village Guangzhou will form part of an adjacent mixed use development including hotel, serviced apartments, and other commercial elements concurrently being developed by Gaw Capital Partners.

Silk Road Holdings’ shareholders include the Fingen Group, China Outlet Mall, Gaw Capital Partners, Waitex alongside a major US institution. Silk Road continues to identify other sites in key cities and is working with local municipalities that recognise the benefits and qualities of the Florentia Village schemes.

Silk Road completed its maiden acquisition of Florentia Village Jingjin last year – a 41,730 sqm Designer Outlet Centre between Beijing and Tianjin. Designed and developed by RDM Asia, Florentia Village Jingjin opened In June 2011 as China's first authentic Italian outlet village. It houses 165 stores with the strongest mix of luxury and premium Italian, International and Chinese brands available in the market offering guaranteed discounts on goods year round for shoppers. Currently, Florentia Village Jingjin is the only designer outlet in China boasting Prada, alongside a dazzling array of other top European fashion brands such as Gucci, Ferragamo, Bottega Veneta and Burberry. The centre is fully occupied and has proved an enormous trading success with an impressive list of brands waiting to join the scheme and an ever growing following of dedicated customers.

Silk Road is advised by RDM Asia (the real estate development company of the Fingen Group in Asia) as operating and development partner alongside Henderson Global Investors as investment advisor. Together they bring an unmatched experience in this niche sector in China, leveraging their European experience and success. In addition, Waitex and Gaw Capital Partners work together with RDM Asia to provide the integral local knowledge and development experience in China. The combined team brings an unprecedented degree of international outlet expertise, luxury retail network, development capability and local market knowledge which has established a new benchmark for the China luxury outlet sector in terms of design, brand representation and consumer experience.

Commenting on the latest site acquisition, Jacopo Mazzei, CEO of RDM Asia explained: "This is a terrific site in a key area of the country which will further our goal to establish a series of the best in class luxury outlet centres in 1st and 2nd tier cities that will ensure Florentia Village represents the definition of luxury outlets across China.

Kenny Gaw of Gaw Capital Partners added "In addition to helping secure this terrific site as Florentia Village Guangzhou for our Silk Road JV, Gaw Capital Partners is also excited to be the developer partner for the non-outlet portion of this major mixed use development. We look forward to the opening of this bright new shopping mecca in southern China."

Chris Reilly, Director of Henderson Property Asia, concluded: "We are very excited by the latest acquisition and remain extremely confident about the prospects for the luxury retail sector in Southern China. Chinese consumers are very brand conscious and expect a sophisti

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