(Yicai Global) Feb. 19 -- Costco Wholesale, the United States' largest members-only warehouse club, plans to open its second store in Shanghai after winning the rights to a parcel of land in Pudong New Area.

The retail giant's subsidiary Pudong Warehouse Development and Shanghai Heyu Industry, a subsidiary of Galaxy Holding Group, won the rights to use land in the eastern area of Shanghai Pudong Kangqiao Industrial Zone for CNY898 million (USD128.3 million), CCTV reported.

Washington state-based Costco entered the Chinese mainland in August last year in Minhang, Shanghai, and was an instant hit, having to suspend trade during its opening day as hordes of hungry consumers piled into the store.

It was planning to open another Shanghai store with a proposed opening at the end of 2020 or early 2021, Chief Financial Officer Richard Galanti said in September last year. Costco China Investment penned a deal with Shanghai Pudong Kangqiao Group two years ago to set up Costco's headquarters in Kangqiao Town.

Costco's new land parcel spans over 47,300 square meters just one metro stop from Shanghai Disney Resort and can be used for commercial, catering and hotel purposes. The firm still needs to build the supermarket and will have to bring in hotels and regional headquarters of multinational firms under the lease agreement.

Editor: James Boynton