K11 Art Mall officially opened on June 28, 2013, at 300 Middle Huaihai Road in Huangpu District, becoming mainland China's first "art mall." It was founded by entrepreneur Adrian Cheng through New World Development and the K11 Art Foundation. The mall occupies the lower floors of New World Tower, roughly 278 meters tall, spanning six floors above ground and three below with about 35,000 square meters total. It hosts rotating art exhibitions, holds LEED Gold certification, and draws more than five million visitors a year. Located in the heart of historic Xintiandi, it is a favorite stop for art and upscale shopping.