Type Private Headquarters China | Industry Real Estate Website chinamex.com.cn | |
Chinamex (short for China Middle East Investment and Trade Promotion Centre) is a Chinese real estate developer specializing in the design and management of large malls and mixed use developments branded as Dragon Mart and Dragon City respectively that are located in foreign countries. The malls are shopping hubs for retail and especially wholesale sales of Chinese products. The company was created by the Ministry of Commerce to promote Chinese trade.
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Dubai
The first mall developed by the company is Dragon Market Dubai, a sprawling development located at Dubai International City that was referenced in a New York Times article as a key project in the expansion of Chinese ties in the Gulf countries.
Bahrain
Chinamex is co-developing a wholesale and retail mall an entertainment complex in Bahrain branded as Dragon City. As part of the first phase of the project, opening in September 2015, a Dragon Mall along with an Asian themed dining street will roll out. With a size of 46,000 square meters, it will serve as an anchor establishment of the US$3.2 billion mixed-use development, Diyar Al Muharraq.
Cancun
In conjunction with Mexican investors, the company commenced construction of Dragon Mart Cancún, a $US180-million investment that includes 3,000 storefronts along with apartments for the families of mall workers. However, construction was halted due to an environmental enforcement action by Profepa, the Mexican environmental protection agency. A Wall Street Journal article noted that the planned DragonMart had unsettled Mexican business leaders who were anxious about losing market share to Chinese competition.