Retail segment still developed despite of global economic downturn

September 27, 2012 | 11:01
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Despite lack of global recovery downturn of economy, prime malls and shopping centre have generally been strong performers in term of tenant demand, sales and increased rental rates across all regions, according to a latest survey done by Cushman & Wakefield.

The study focuses on global retailer and macro consumer trends impacting the global shopping centre industry, as well as rent and demand trends for prime shopping centres globally and regionally in Asia Pacific, Europe and the Americas.

It also provides an overview of how these trends will shape tenant mix, as retailers and shopping centre owners position their centres for the next phase of global growth.

“Our preliminary findings show that despite the lack of a broad, global recovery and bifurcated regional economic performances, prime malls and shopping centres have generally been strong performers in terms of tenant demand, sales and increased rental rates across nearly all regions of the world,” Cushman President and CEO Glenn Rufrano said in a statement.

Cushman & Wakefield Inc., in conjunction with International Council of Shopping Centre (ICSC), has released the above study at the 2012 ICSC Retail Real Estate World Summit held in September 11 to 14 in Shanghai.

According to ICSC president and CEO Michael P. Kercheval, this report will be of significant interest and value to our attendees and the fact that Cushman & Wakefield selected the summit as the platform to disseminate this information speaks to the critical nature of the conference.

Le  Kim Hoa, head of Retail from Cushman & Wakefield Vietnam, back from the summit said that it was the greatest chance to meet and talk with our colleagues, partners and experts in retail industry all over the world.

“We chatted with each other when go shopping centre tour to the top Shanghai retail hot spot like Plaza 66, Raffles City Shanghai, Nanjing Road, etc,” Hoa said.

The top experts, she added, also shared their vision and experiences of dealing with the retail market given the volatile economy, how to maximize returns while reducing risk.

“The conference with Steve Wozinak – Co founder of Apple Inc. and Do Won Chang, CEO & founder of Forever 21 and many others is also very impressive to me when they directly share their up-to-date paradigm shift across the world as well as their strategic insight  into emerging market including Vietnam,” Hoa said.

The conference also engaged specialists in exploding the future concept of shopping centre with a blend of entertainment, dinning and community.

By Bich Ngoc

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