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Is the mall property operator the second landlord?

Yes

The "second landlord" is the operating organization of commercial real estate, which can not only provide cash flow for developers through leasing and subletting, but also enhance the asset value of commercial real estate.

Before being a property operator, Shanghai Ruilian Commercial was mainly engaged in the packaging and resale business of commercial properties. Including Feizhou International Plaza, Tengfei Building and Infinite Plaza, which were wholly acquired by overseas or local investment institutions, were originally acquired by Shanghai Ruilian Commercial Company and then resold or packaged to help sell.