Despite the strong growth in retail sales in 2017, the retail real-estate market continues to be roiled by trends that look to pick up steam in the future. Mall occupancy rates the world over are taking a beating as e-commerce continues to power ahead unabated.
Filling those retail vacancies will only get harder, suggests a report from the Advisory & Consulting group of Green Street Advisors. While there are emerging retailers looking to open physical locations, the report notes that these new tenants are being choosier about locations and opening stores at a much slower pace than in the past.
Malls are at an inflection point. The old mall business model is in the scrap heap and reinventing a new type of mall out of the old bones of yesteryear’s mall takes significant investment, creativity and time for planning.
- Civil & Structural
- Fire Safety
- Mechanical & Electrical
- Project Management & Construction Management
- Sustainability & ESD Designs
The retail real-estate industry finds itself at a crossroads. One fork leads to a predictable Darwinian scenario where the weakest shopping malls continue to close due to changing demographics or the inability to develop a sustainable alternative to digital competitors. The other takes us to an industry future that has never looked better, at least for those wise enough to pursue it – by reimagining and reengineering shopping malls as ‘Consumer Engagement Spaces’.
To navigate these challenging times, you need a trusted partner with a stellar track record of helping developers reimagine the shopping experience.
With projects like the Dubai Mall (World’s largest mall), Resorts World Sentosa Singapore (Integrated resort with shopping malls, Universal Studios theme park, hotels) and M101 Skywheel (Malaysia) which boasts a Ferris wheel 220m above ground, under our belt, Meinhardt can help turn your stand out retail concept into a reality.
- Integrated Resorts
- Malls on Water
- Mega Shopping Malls
- Theme Shopping Malls