Home / Knowledge / News / Textiles / Global shopping space rises to 41.9 mn sq m
Global shopping space rises to 41.9 mn sq m
19
Apr '16
The global shopping center pipeline has continued to increase, reaching 41.9 million sq m in 2015, from 39 million sq m in 2014, and with Asian cities dominating all of the top ten most active global markets, according to real estate services adviser CBRE's latest report.

The report, measuring shopping center development in 168 major cities globally, highlights that China remains the most active market in terms of delivering new space, accounting for two-thirds of construction globally. Chongqing, Shenzhen, Chengdu and Shanghai all have over three million sq m of space under construction in over 30 projects in each city.

Across Asia Pacific, new development is active in 34 of the 41 cities surveyed, totaling 34.8 million sq m. Other than China, activity in Thailand and India is also robust. Bangkok is the only other market in Asia within the top ten most active development markets, with 1.7 million sq m of space under construction, the report said.

Across the board, completions of shopping centers globally have started to slow as parts of the global retail market experience an imbalance between supply and demand. Globally 10.6 million sq m of new space opened in 2015, down from 12.1 million sq m in 2014.

Asia Pacific remains the most active in terms of completions with 7.8 million sq m completed in 2015 - dominated by China which accounts for over six million sq m of completions. China's Wuhan saw the largest volume of completions globally with just under 800,000 sq m of new space added in 2015. In India, the completion of the DLF Mall in Noida ranked as the largest shopping center completed in Asia Pacific this year with a total area of 183,948 sq m.

“Shopping center development remains active across Asia, yet the notable change we see is the slowdown of shopping center completions, typically in markets where there are already high levels of saturation and weakening demand,” commented Joel Stephen, Senior Director and Head of Retailer Representation, CBRE Asia.

“The large volume of new supply, complemented by the growth of e-commerce, will make it challenging for landlords to attract and retain quality tenants, especially in China where supply will be most abundant. With competition becoming fiercer, landlords' operational expertise will be the key to success. Retailtainment, which includes experiential retailing, food and beverage, and leisure services, is the driving force in attracting footfall to shopping centers and increasing shoppers' dwell time. Landlords are advised to reinvent their shopping centers to be the ideal place for leisure and social activities. This process, often called 'placemaking', will require landlords to invest in events, marketing and the quality of operation, as well as restructuring their tenant mix, to align with current shopping trends appropriate for that catchment,” added Stephen. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Top executives
Textile & apparel bodies

The decision is transformational

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Urmil Arya

Sushila International, a well established textile organisation established ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search