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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. 


Jul 29, 2021, USA:
Tesla stores are leaving mallsThe electric car maker is taking another blow to the position of malls that are losing tenants one-by-one.
Jul 29, 2021, Estonia:
The initial value of the 55,000 sq.m. complex is €85 million.
Jul 28, 2021, United Kingdom:
Two years after Philip Morris announced its plans to expand the British chain, it has become known of its intention to close it completely.
Jul 28, 2021:
Those who have not been vaccinated will not access public spaces, such as government offices, restaurants, and shopping malls.
Jul 27, 2021, United Kingdom:
The chain of luxury department stores, founded in 1909, may change ownership.
Jul 20, 2021, USA:
LVMH will acquire a controlling stake in Off-White, with its founder retaining 40%.
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