by swisschambei in Business
Dufry and Hainan Development Holdings (HDH), a fully state-owned company of the Hainan Provincial Government, have signed a strategic cooperation agreement to develop opportunities in Hainan’s travel retail market. The first step of this collaboration will focus on the development of new duty-free operations at the Mova Mall in Haikou, the capital of the island. Mova Mall is a major tourism and shopping destination in the city center of Haikou, featuring a vast leisure offer of shopping, dining and entertainment facilities, as well as over 2,500 luxury hotel rooms in walking distance. The Mova Mall complex welcomed 22 million visitors in 2019 and visitors from mainland China are allowed to buy duty-free items up to an amount of 100.000 RMB (approx. USD 14,000) per year. The new downtown duty-free shop will span over 38,920 m2 across two buildings of the Mova Mall, in three phases and the first phase is expected to be opening before the Chinese Spring Festival, at the end of February 2021.