Despite the gloom and doom of the economy, retail spaces are expected to remain in demand and steer the growth of this property segment as shopping-crazy Filipinos continue to shop at malls.
CB Richard Ellis, a property consultant, noted that some mall developers had announced expansion plans for this year. According to CB, growth in...
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Archive for February, 2009
More Malls Being Built by Developers in Time for Economic Recovery in Phillipines
Australia’s Westfield Ceases Mall Projects for 2009
The world’s top mall owner by market value, Westfield Group Ltd. has confirmed it will hall any attempts to open malls this year, saving up to $2 billion USD as capital markets continue to remain unstable. Company shares rose 5% on Thursday to $10.25 USD, reporting a 1% rise in the broader market after...
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Mall Owner Warn Against Debt, Yet Post Gains
Although General Growth Properties indicated they may be forced to seek bankruptcy protection if it cannot rework the terms of billions of dollars in loans coming up this year, it did report that its fourth quarter funds from operations rose on a series of one-time gains.
The Chicago based company said that operational funds rose...
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Indonesian Malls have Plenty of Visitors, but Fewer Sales
Malls in Indonesia have little problems in attracting visitors and shoppers, as malls are accompanied by opulent attractions such as children’s rides, slippery slides to fake European boulevards making for a very favourable shopping experience.
Although retail sales are dropping, the number of window shoppers continue hasn’t been affected as the recession continues to hover...
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Slots Near Malls Not So Welcomed
Arundel Mills, a developer, has proposed installing 4,750 video slot machines adjacent to an outlet mall, after Maryland surprisingly legalized slot machines. This mall is known for its low prices at Aeropostale and movies at an Egyptian style theater.
Many customers are surprised that the gambling station will be located next to an outlet mall,...
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Hong Kong Malls Reach for Mainland Shoppers
Elements, a high-end shopping malls, reportedly co-produced a fashion program with a TV station in Beijing, where a popular tv host discussed the latest trends and fashions aimed to attract mainland shoppers to shop at the mall for brand name clothing. Hong Kong’s retail market isn’t stopping at anything attract shoppers from the mainland...
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