Although the project appears to be a joint venture with a Chinese organization called “The Chinese Group”, this project is under the auspices of the State Commission for Economic Development (the same organization responsible for managing the new Economic Development Zones), rather than the Joint Venture Investment Committee (JVIC).
Construction site highlighted in yellow | Picture: Google Earth
This is the most visible sign of new Chinese investment since the ouster of Jang Song Thaek in late 2013. Among Jang’s many projects, he previously played a role in the redevelopment of the Kwangbok Area Supermarket which also involved recruiting a Chinese investor.
The construction site for the new shopping mall is in Taedonggang District, Tongmun 2-dong, just north of the iconic Monument to the Party Founding.
The plot of land available for use is approximately 85m x 240m. It has largely been unused for most of the last decade except to serve as a staging ground for various construction projects in East Pyongyang.
Although the project appears to be a joint venture with a Chinese organization called "The Chinese Group", this project is under the auspices of the State Commission for Economic Development (the same organization responsible for managing the new Economic Development Zones), rather than the Joint Venture Investment Committee (JVIC).
