SHANGHAI — China is building an unprecedented number of shopping malls and while some observers might be concerned about an oversupply, new research from Jones Lang LaSalle indicates otherwise.
The glut of shopping centers in China might not be as bad as previously thought, according to the real estate and property management firm. Consumer classes in major cities, like Shenyang, Chongqing and Wuhan, will “grow faster than the supply of shopping malls” resulting in scenario where the supply will be absorbed, the Jones Lang LaSalle study said. It projects that by 2015, the provision of shopping mall space per consumer will be the same or lower than it is now.
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