By  on April 23, 2012

SHANGHAI — Even with an overwhelming number of new shopping centers being built throughout China, there remains a shortage of prime real estate for luxury brands looking to open in the country or expand deeper into smaller cities on the Mainland, according to a new global retail report by CBRE Group Inc.’s CBRE Consulting.

Eight of the top 10 most active development markets for new shopping centers are in China, the report said. Out of the top 25 cities globally with the most new malls being built, 13 are cities on the Mainland. At the top of the list is Tianjin, a city outside of Beijing, where 26.4 million square feet are under construction. Shenyang, a city in the northeast, ranks second on the list while Chengdu, a metropolis in the south, is third.

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