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Taiwan shops have mixed feelings about Street's remote location

The launch date of the highly anticipated Beijing Taiwan Street, a real estate project featuring Taiwan specialties and brands in Shijingshan district, continues to remain a mystery.

A senior manager with the Beijing SCIO Business Investment Co Ltd, the developer of the Taiwan Street who declined to be named, said the opening date had been delayed because they were waiting for an important political figure from Taiwan to cut the ribbon at the opening ceremony.

An official with the bureau of commerce at Shijingshan district said at an interview in August that the street, which was supposed to be a landmark commercial area in the district, would open in October.

However, METRO learned by visiting the construction site that it was nowhere near completed. Workers on the site said it would probably be finished by February or March. They added they are now doing interior decoration.

With a total investment of 120 million yuan and using a Taiwan architectural style, the 436-m-long street is to attract some 150 top retailers, restaurants and shops. About 60 percent will be Taiwan-related and the rest should have a strong international flavor.

The street is located near the West Wanda Plaza, a large shopping and entertainment complex.

Yang Jun, leasing manager of the project, told METRO yesterday that many famous Taiwan-based companies are interested in the project.

They include a themed restaurant about Taiwan singer Teresa Teng, who influenced the pop music on the mainland and died in 1995, and Xinye restaurant, one of the top catering groups in Taiwan.

The average rent is 5 yuan per sq m per month and about 50 percent of the shops have been leased out already, Yang said.

However, some Taiwan brands said they are not interested in doing business there because of the remote location.

A marketing officer surnamed He with Bellagio restaurant said they did receive an invitation from the developer, but didn't mind because their restaurant development strategy mainly focused on the eastern side of the city where it is more economically affluent.

"It is too far from central Beijing and relatively underdeveloped, economically speaking. We don't have any plans to open a restaurant there," she said.

Similar commercial properties using Taiwan in their names have sprouted up in the city over the last few years. Many district such as Fengtai, Daxing, and Huairou have built Taiwan streets, but none were successful. It was reported that a Taiwan street in Fengtai district that opened in early 2008 is now on the verge of closure due to a lack of investment and bad management.