Shopping Centers Today International

NOV 2015

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

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16 S C T / N o v e m b e r 2 0 1 5 w o r l d aT a g l a n C e Ikea is opening its first U.K. store in seven years, a 32,000-square- meter (about 344,000 square feet) unit sched- uled to open in Read- ing next year. After expanding to Den- mark, Norway, Sweden, Rus- sia and Turkey, British toy chain Hamleys is targeting central Europe. The chain will open a 6,000-square- meter (nearly 65,000 square feet) store at the Na Příkopř mixed-use property, in Prague, Czech Republic. Expansion plans at 360 Mall, in Kuwait, include new retail space, a hotel and a 7,600-seat tennis stadium. The expansion is scheduled for completion in 2019. Anticipating heightened retail consumption with the lifting of international economic sanctions on Iran, landlords are sprucing up several malls in Tehran — Hyper Star Market, Kurosh, Palladium Mall and Sam Center among them. Gicsa is expanding its fac- tory outlet portfolio in Mexico, now consisting of one property each in the cit- ies of Cancún, Guadalajara, Monterrey and Toluca. Two more are under con- struction: Las Plazas Outlet Norte, in Mexico City, and Las Plazas Outlet Sur, in Cuernavaca. The firm announced plans to open outlet centers also in Puebla and the El Bajío region. Grupo Sambil broke ground on the $40 million Sambil Valencia II, a 25,000-square- meter (about 269,000 square feet) mall in Valen- cia, the third-largest city in Venezuela. A pedestrian bridge will connect this proj- ect to its sister mall, Sambil Valencia I. Mall developers in Thailand are planning to spend B150 billion (about $4 billion) within the next two years to build some 18 million to 21 million square meters of new retail space, according to the Thai Shopping Centre Asso- ciation. Among the planned projects are The Mall Group's EmQuartier and Charoen Pokphand Group's Icon- Siam, both in Bangkok. SM Prime Holdings, of the Philippines, set aside some P65 billion (about $1 bil- lion) for 2016 (up slightly from the developer's 2015 budget), more than half of which will go to build new shopping centers and expand existing ones. SM Prime says it will open six malls, totaling nearly 431,000 square meters (about 4.6 million square feet), next year. S C T M l l d l i T h T i l d b l b k H l d i i

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