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Malls simply evolving, not dying



The CEO of General Growth Properties, Sandeep Mathrani is a retail veteran. He has seen the rise and fall and again the rise of many malls and stores, including Riverchase Galleria.
The sales and occupancy of the mall dropped to an all-time low when the recession hit, but that did not stop GGP from investing millions of dollars in remodeling the largest indoor mall in the state.

The sales have once again reached pre-recession figures and the occupancy is at 96%. However, Mathrani still finds that he has to try and convince alarmists that the retail arena is thriving.

He said that the death of the shopping mall has been discussed for ages. When it was up against the Home Shopping Network and the catalogue, it was classified as dead. When it came up against the power centres with specialty retail, the same was said. However, the mall has remained.

Aside from the dollar investment by GGP, they also thought about aesthetics.

Sandeep Mathrani stated that the internet will continue to be a challenge to the brick building, but it is not being viewed as the chief competitor. He expects the two to merge as they evolve further. 


YESTERDAY, India:
The vast mall's construction will cost $760 million, and the project is expected to be completed in seven years.
YESTERDAY, United Kingdom:
The brand plans to close 95 stores nationwide while paying reduced rent for the remainder of the term.
DAY BEFORE YESTERDAY, USA:
Old Spice Barber Shop will also serve as a brand store, digital content studio, and experience lab for new product developments.
DAY BEFORE YESTERDAY, USA:
The company managed to retain its place as the largest retailer in the U.S., with Amazon in second place.
Feb 19, 2021, USA:
U.S. real estate owner Tanger Factory says all of its owned malls are back to pre-pandemic levels.
Feb 19, 2021, USA:
The company intends to expand its streaming capabilities and go global.
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Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú


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