Shopping centers can play a major role in improving the quality of life in town and city centers around the world. More importantly, shopping centers are often seen as drivers of local economies. They are necessary to maintain economic growth and a sense of community, offering employment, solving environmental problems, and providing a better quality of life. Thus, tracking shopping center development can be seen as a window into economic growth as a whole.
The effect the credit crisis and global recession has had on the shopping center development has been apparent across the world. There can be absolutely no doubts now that the retail development landscape has changed to varying degrees depending on geography over the last few years. This is not likely to alter significantly in the near future as shopping center owners and developers grapple with the challenges of integrating an increasingly competitive virtual world, where technology is driving a structural change in the retail market and how shoppers want to shop.
The shopping center landscape is constantly evolving around the world and therefore to gain an understanding of the changing dynamics in retail markets, Cushman & Wakefield sampled shopping center inventory throughout the Americas, Europe and Asia. The following provides a mere glimpse into a future filled with growth and opportunity for investors, retailers and consumers alike.
Source : Cushman & Wakefield