A Broad Sweep: The Economic Downturn Is Seemingly No Deterrent to the Continuing Development of New Shopping Centres
The shopping centre concept is being embraced on a global scale like never before. 2012 looks set to see substantial growth in parts of Europe, yet this is dwarfed by the wave of new development sweeping across Asia. In this article, we look at the international trends that are reshaping the market.
Earlier in the summer, CBRE examined the level of shopping centre development across 180 of the world’s major cities based on centres of more than 20,000 square metres. The purpose of the research was to identify the most active development markets and to understand the importance of development in attracting cross-border retailers. The research revealed that the shopping centre concept, once the preserve of the western world, has now become ubiquitous.
CBRE also undertook more detailed research in Europe, examining all existing and under-construction schemes of more than 10,000 square metres,