China tops world in shopping mall construction

[beijingwalker]

China tops world in shopping mall construction
Asia Stocks to Watch
April 23, 2012|Chris Oliver, MarketWatch

HONG KONG (MarketWatch) — China dominates the world in terms of shopping-mall construction, with some cities little-known in the West throwing up retail centers on a scope unmatched anywhere else in the world, as developers place high expectations on the spending power of the Chinese consumer.

In terms of shopping-center space under construction, China holds the top three spots worldwide, and accounts for 8 of the cities that make up the top 10, according to CBRE, which released the data as part of its global retail survey earlier last week.

The world’s busiest mall-construction hub, Tianjin, a major northeastern Chinese port city near the capital Beijing, has more shopping-center space under construction than the entire existing mall-space inventory of any single European city, apart from Paris and Moscow, according to CBRE.

About 16 projects are in various stages of completion, entailing 2.45 million square meters (26.4 million square feet), according to the CBRE data.

Shenyang, an industrial city about an hour’s train ride from North Korea, ranks No.2 globally in terms of retail construction. The provincial capital, which also serves as a commercial hub for trade with Russia, Japan and the Koreas, is building 2.18 million square meters of retail space in 18 shopping development projects.

Also bustling with retail construction, and ranking third globally, is Chengdu, the capital of Sichuan province in China’s southwest. The city, home to 14 million residents, is located near the region devastated by a major earthquake in 2008, and it has about 24 retail development projects underway, equivalent to around 1.89 million square meters, according to CBRE.

Wuhan a provincial capital of more than 10 million in China’s central interior, ranked fifth, or just slightly behind Abu Dhabi. Nearly one million square meters of retail developments are underway in the city, according to the data.

China tops retail shopping table

April 5 2012 at 06:19am

China has finally overtaken the US to become the biggest shopping nation on the planet, according to retail figures.

The retail bug has also caught on in other emerging consumer countries such as Russia, India and Brazil, who are set to overtake Europe’s powerhouses. But Britain is also set to overtake Germany in the table of the world’s highest spending shoppers, analysts predict. The tables from industry experts IGD show just how the old world order is changing.

China’s everyday retail spending is rising by around 11 percent a year and stood at £607 billion (R7.4 trillion) for 2011. The US’ consumer boom is slowing down to about 4 percent a year, and for 2011, only reached £572bn. – Daily Mail

 

[Götterdämmerung]

I don't like shopping malls, I prefers street side shopping with cafés and pedestrian friendly zones because that makes a city much livelier. The best cities in Europe don't have many malls in the city but rather boutique galleries like the Galleria Vittorio Emanuele in Milan.

 

[shuttler]

This is perhaps a bit of a late reporting. The retail business already started to take off 2 decades ago. And the malls are getting better, more chic and commodities offered are better designed, better quality and more gimmicks. Now even the mushrooming B2C business can dampen the fervor of our folks' shopping @ malls a bit!

 

[CarbonD]

This is perhaps a bit of a late reporting. The retail business already started to take off 2 decades ago. And the mall are getting better, more chic and commodities offered better design, better quality and more gimmicks. Now even mushrooming B2C
business does not dampen the fervor of our folks' shopping @ malls a bit!

sorry to intervene but what do you mean by the bold part.

 

[Hasbara Buster]

Turkey is also one of those countries where you can see new huge malls popping up everywhere. I don't know if extreme consumerism is something to be proud of?

 

[harpoon]

This is an area I don't like India to win..I dislike Malls. There is a certian element of artificiality to it. Nothing beats the lively atmosphere that a typical Bazaar gives.

 

[shuttler]

sorry to intervene but what do you mean by the bold part.

a modern China approaching towards the rest of a promising century!

Malls are great for the summer and rainy days shopping!

 

[somebozo]

Well, I future..people may nickname China as "walmart"

 

[beijingwalker]

a modern China approaching towards the rest of a promising century!

Malls are great for the summer and rainy days shopping!

I work in a mall and I love it,ha

that's where I work.a small mall in Beijing.