A rendering of the interior of the Yueshang Outlets. [Photo/WeChat account: wuxifabu2013]

Yueshang Outlets, rebuilt from the former Mingfa business area, will open to the public with a brand new look on May 1.

With a total of 1 billion yuan ($158.23 million) in investment, the new outlet was converted from a 380,000-square-meter business area in Xizhang town, Huishan district. The project involved the reconstruction of the flag building, underground parking area, outside walls and surrounding basic infrastructure.

In addition, the Ferris wheel located on one side of Huishan Avenue, will be lit up for the first time in over 10 years and become a new landmark of Huishan district.

Yueshang Outlets will open in Huishan district, Wuxi on May 1. [Photo/WeChat account: wuxifabu2013]

The new outlets will not only sell international luxury brands, but also include restaurants, supermarkets, entertainment zones, bookstores, after-school classrooms and a cinema.

It is expected to attract consumers with a number of first stores. A total of 215 first stores in Huishan district will open in the new outlets, including 116 first stores in Wuxi and eight such stores in Jiangsu.

The concept of the first-store economy is meant to boost local consumption. A first store of a well-known brand or chain operating elsewhere is said to stimulate local people's desire and demand, according to industrial insiders.