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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. 




DAY BEFORE YESTERDAY, USA:
Mall of America owner is moving ahead, planning to bring the nation’s largest project to South Florida.
May 28, 2018, Poland:
Multi’s Polish flagship project opened its doors to the public.
May 15, 2018, United Arab Emirates:
Waterfront dining, retail, and entertainment attraction brings more lifestyle options to Palm Jumeirah.
May 15, 2018, United Kingdom:
Springfields Adventure Land will include the UK’s largest JCB Young Drivers Zone.
May 3, 2018, China:
New DNA Shopping Mall is Leigh & Orange’s (L&O) latest retail project to open.
Apr 23, 2018, United Kingdom:
New World Trading Company has chosen to open its latest venture at intu’s transformational retail and leisure extension.
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Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping


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