Shopping Centers Today

JUL 2014

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

Issue link:

Contents of this Issue


Page 6 of 59

Economic growth promises robust global development Global economic growth holds promise of robust shopping center development in the coming few years, according to a Cushman & Wakefield report. "Shopping centers can play a major role in improving the quality of life in town and city centers around the world," the re- port says. "More importantly, shop- ping centers are often seen as drivers of local economies. They are neces- sary to maintain economic growth and a sense of community, offering employment, solving environmental problems and providing a better quality of life." In the 51 countries Cushman & Wakefield tracked, 1,650 shop- ping centers opened between the beginning of 2012 and the end of 2013, an addition of some 64 million square meters (nearly 690 million square feet). Most of this development — which accounts for 7 percent of today's shopping center inventory — occurred in Bra- zil, China, India, Mexico, Russia and the U.S., and these countries are expected to see the bulk of global development through 2016, Cush- man & Wakefield says. There are now roughly 47,000 shop- ping centers in the countries Cushman & Wakefield covers, amounting to nearly 10 billion square feet of gross leasable area. An additional 1,134 shopping centers are scheduled to open this year, which will add about 412 million square feet in total, and well over half of this is to be in Asia. Over the next three years, some 1,800 additional shopping centers are to open around the world, adding on some 856 million square feet. Here again, Asia will see the bulk of this development, China and India in particular, with the region's share amounting to roughly 595 million square feet. "In 2014, the global economy is in the best shape it has been for several years," the report concludes, "particularly as the recovery in Eu- rope slowly gains momentum, Asia continues to grow at a healthy pace, and activity in the Americas acceler- ates as anticipated." Correction The listing of ICSC's European Shopping Centre Award winners in May's edition incorrectly identified anchor stores at Land Securities' Trinity Leeds. Anchors there in- clude BHS, H&M, Marks & Spen- cer and Primark. Starbucks to give mobile devices a jolt, too Starbucks wants to keep its customers wired in more ways than one. The Seattle cof- fee chain plans to put wireless charging stations on tabletops and counters in all its U.S. shops. The stations are already being installed in the San Francisco Bay Area and are expected to reach other major markets in 2015. Eventually all Starbucks shops and Teavana tea bars will offer wireless charging, the company said. J u l y 2 0 1 4 / S C T 7 s o n a e s i e r r a o P e n e D P a s s e i o D a s À G u a s i n b r a Z i l l a s t Y e a r . 6-10_SCT_JUL14_Common Area.indd 7 6/13/14 12:09 PM

Articles in this issue

Archives of this issue

view archives of Shopping Centers Today - JUL 2014