Construction is underway for the second Apple retail store in Shanghai (China), in an area popular with ex-patriates and locals, and a short walk from the Xintiandi car-free shopping and restaurant zone and a major subway station. The future store occupies a large, ground-floor space at the corner of Huaihai Middle Road and Huangpi Road, in a shopping mall that was previously low-key and run down. Over the past year the four-level mall has been renovated, attracting many upscale international retailers, including a two-level Cartier’s, Tiffany & Co., and the first Gap store next to Apple’s space. Twin 38-story towers provide office space and service apartments. Apple executives have said they intend to have 25 stores in China by the end of 2012. Ground-floor retail rents in Shanghai are averaging about $20 per square-foot monthly, real estate sources say. A 10,000 square-foot store could cost Apple $2.4 million a year in rent. This store could open by late 2010 or in early 2011.
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The “map” and “satellite” views of China do not coincide on Google Maps. The map view here is correct, while the satellite view is displaced by about 2,500 feet southeast.