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China Dominates Global Shopping Mall Growth

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When Greek Prime Minister Alexis Tsipras announced on Sunday that the debt-addled nation’s banks would shut for six days, it had an immediate knock-on effect on Asian markets, particularly China, which sunk amid worry that Greece would be forced to exit the eurozone.

But a cooling Chinese economy still offers some bright spots: Despite a weak property market, a rising middle class with more disposable income and an ever-increasing appetite for fashion mean the mainland shopping-mall market continues to boom. In fact, a recent report from property advisor CBRE Group revealed that 44 percent of shopping centers completed in 171 of the world’s major cities last year were in China and it accounts for more than 60 percent of mall space under construction.

Read more at Sourcing Journal.

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