A major cultural company – currently not officially identified – is soon to relocate to Xihongmen business district and settle in the Xingchuang International Center next to IKEA and LIVAT Center in Beijing's Daxing district, according to a local media reports on May 20.

The newcomer is expected to become a "landmark" for the cultural industry in the south area of Beijing and help drive development of upstream and downstream cultural enterprises in the surrounding areas.

That’s according to a spokesman from Beijing Cultural Real Estate Co Ltd which is affiliated to the Beijing Cultural Investment Development Group Co Ltd (BCI), which operates the Xingchuang International Center.

Officials said that at present, the project investment promotion has started and a number of domestic heavyweight cultural enterprises have contacted the center operator, the spokesman said.

He added that his company planned to introduce a major cultural enterprise into the building which would establish its headquarters in Beijing. The major new tenant would attract small and medium-sized enterprises in the industrial chain to settle in the surrounding areas.

In terms of the type of the cultural enterprises that would be moving in, the spokesman said that "culture + technology", "culture + finance" and other composite cultural enterprises would be preferred.

In order to promote Beijing’s development as a “national cultural hub” and implement the development plan for the capital's cultural industry, the State-owned Cultural Assets Administration Center of the People's Government of Beijing Municipality, or SOCAAC, signed a cooperation agreement with Daxing district's government in August 2013.

SOCAAC subsequently authorized Beijing Cultural Real Estate Co Ltd to buy the office building (3B building) of the Xingchuang International Center, located in Xihongmen business district, for the purpose of building a Beijing cultural and creative industrial park.