OREANDA-NEWS. December 10, 2012. Terrace Mall Shonan, a joint project developed and operated by Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura), Sumisho Urban Kaihatsu Co., Ltd. (Head Office: Chuo-ku, Tokyo; President and CEO: Masaaki Kokubo) with GIC Real Estate Pte Ltd (Head Office: Singapore; President: Goh Kok Huat) celebrated the first anniversary of its opening. Sumitomo Corporation and Sumisho Urban Kaihatsu are pleased to report favorable results during the first year of its operation. Specifically, sales for the period from November 11, 2011 to November 10, 2012 were approximately 50.9 billion yen, considerably exceeding the original target at 40 billion yen. The total number of visitors during the same period reached 23.7 million, which also exceeds the target at 20 million.

Terrace Mall Shonan opened as part of Shonan C-X, a large-scale urban redevelopment project organized by the local government for areas around JR Tsujido Station in Fujisawa City. As a core facility of this massive project, the retail facility has attracted a remarkable number of customers, not only residents in the surrounding neighborhoods but also visitors from out of town, over the past year. This area is steadily progressing, and expected to show further growth, with additional facilities built and planned, including a new hospital established by Tokushukai Group in October 2012 and completion of office buildings and residential complexes currently under construction. Sumitomo Corporation and Sumisho Urban Kaihatsu will work to continually develop Terrace Mall Shonan to offer an enhanced leisure and shopping experience to many more customers, seeking the region's top position in the sector, while at the same time contributing to revitalization of local communities through this project operation.

 
Characteristics of visitors

Around 70 percent of the mall visitors were from the planned trading area (within a 10-km radius) mainly in the cities of Fujisawa and Chigasaki and areas near the closest railway lines (Odawara-Ofuna-Kamakura). The remaining 30 percent were from outside the mentioned trading area, mainly from Yokohama City and Tokyo. Regarding access means, train passengers accounted for 40 percent, a higher figure than expected. This is attributable to easy access provided by the passage connecting directly from Tsujido Station. The visitor base consists of a broad range of age groups, primarily, married women in their 20s and 30s, three-generation families and young couples. Loyalty cards have been issued to a rough total of 240,000 customers as of October 31, 2012.