The huge project, called the Triple Five China Dream, is expected to open in 2019 with an eye on attracting China's cashed up middle-class, who are increasingly eager to explore the globe.

The developer, Triple Five Worldwide Co Ltd, said the business, retail and entertainment complex will be its most comprehensive to date and the world's largest tourist and shopping project.

"This project will merge the areas of entertainment, tourism, commercial, retail, residential and hospitality in an exciting, dynamic way," said Nader Ghermezian, chairman of Triple Five. "Triple Five Worldwide Co Ltd looks forward to bringing this world-class shopping and entertainment center to this city."

Triple Five Worldwide Co Ltd founded Triple Five (Asia) Commercial Management Co Ltd, headquartered in Hong Kong, to focus on the Asia and China market and the Beijing project.

The multinational conglomerate signed a strategic agreement with Beijing New Aerotropolis Holding Ltd, which is being built 46 km south of Tiananmen Square.

Construction on the new airport started late last year to cope with the increasing pressure on Beijing Capital International Airport, the busiest in China and second busiest in the world.

The new airport will include the world's largest terminal, at 700,000 square meters, which will process 45 million passengers a year, or 125,000 people a day.

It is hoped with the completion of the new terminal in 2018, the airport will eventually accommodate more than 70 million passengers each year.

Revolutionary developer

Triple Five creates, manages and owns mixed-use developments around the world including shopping centers, office buildings, revitalization programs, recreation and amusement parks and hospitality ventures.

The Canadian company's flagship projects include West Edmonton Mall in Canada, which holds multiple Guinness World Records, and the Mall of America, the largest in the United States.

Triple Five said the China Dream project and two other properties currently under development, American Dream New Jersey and American Dream Miami, would further strengthen its status as a "revolutionary" mixed-use developer.

All three "Dream" projects promise to offer "mega-attractions" including a sea lion show in Miami and an aquarium in Beijing, as well as the more usual shopping, dining, sports and recreation facilities.

Triple Five hopes the Beijing project's convenient airport location and offering of interactive entertainment components will create a worldwide destination for both domestic and international travelers.

"Triple Five's China project will encompass not only the greatest and most diverse mix of retailers, but all the interactive entertainment components that have made Triple Five's North American developments true destination centers," said Ghermezian.

Triple Five has more than 5,000 employees worldwide, is affiliated with more than 200 charities and said it plays a major role in the communities in which it operates.

"We encourage our employees to engage in civic and charitable leadership, our properties are a focal point for community activity and we take seriously our role in supporting community initiatives," the chairman said. "As good partners, we will bring the same level of community involvement to China as we have to our host communities in North America."

clarebuchanan@chinadaily.com.cn