(Yicai Global) Sept. 4 -- To expand its offline retail business, Alibaba Group Holding Ltd. [NYSE:BABA] is building its first totally self-owned shopping center, named More Mall, linkshop.com reported.

Unlike Shanghai's massive Hema mall, which Alibaba invested USD150 million and which only accepts Alipay, More Mall will be the sole owner. 

The five-floor More Mall will be in Alibaba's Xixi Enterprise Zone in Hangzhou in China's southeastern Zhejiang province, and will cover 40,000 square meters.

Alibaba's smart building business department will exclusively operate the mall, which will also offer a slew of new technology-driven retail products like augmented-reality monitoring systems, high-tech dressing mirrors and virtual fitting rooms, to achieve a smooth connection between online and offline services and put these new retail technologies into commercial use.