Shanghai Meilong Town Plaza officially announced its closure on July 23. Meilong Town Isetan Department Store previously stated that due to the expiration of its lease, the company ceased operations on June 30. As one of the first foreign department store brands to enter the Chinese market, Shanghai Meilong Town Isetan Department Store was established in 1997. It is a comprehensive department store that includes cosmetics, beauty devices, household goods, and women’s fashion accessories. After the closure of Meilong Town Plaza, a three-year renovation and adjustment period will begin. The building area of the project site will be increased by 11,400 square meters, and spaces for hotels and offices will be added. The commercial area will be reduced from the original 68,000 square meters to 36,000 square meters.