Department store operator Lifestyle International Holdings Ltd. plans to set up a joint venture to construct a shopping mall and office building involving a total investment of at least US$100 million in Suzhou, adjacent to Shanghai .

The company said in a statement it aimed to reach a formal agreement within 45 days with Chinese partner Suzhou Industrial Park Urban Development Co Ltd, which is the developer of a piece of land designated for the construction of the property in Suzhou Old City in Jiangsu Province. Lifestyle said opening a department store in the proposed shopping mall was part of the firm's expansion plan in China.