our city has five big shopping malls

Tucked inside, you'll find fountains, restaurants, and shopping to spare. 5. Golden Resources Mall: 6,000,010 sq ft (557,419 m²) Beijing is one of the biggest cities in the world, so it makes sense that it's home to one of the biggest malls. Well, it is not a very big mall as we, overseas Pakistanis, are used to; but a place with reasonable variations available. It has a hyper market, kids play area, food court, and multiple brands for shopping. Comparatively crowd is less than other places. The following is a list of Canada's largest enclosed shopping malls, by reported total retail floor space, or gross leasable area (GLA) with 70,000 square metres (750,000 sq ft) and over. In cases where malls have equal areas, they are further ranked by the number of stores. Mall name, location. Prv. We are committed to protecting our clients' most valued investments, providing our renters with comfortable spaces to call home, and supporting our local businesses + organizations. Meet the Team Brett Lam Broker in Charge 336.443.0199 x 11 brett@acorn-oak.com Read Brett's Bio Jacqueline Ng Broker 336.443.0199 x 33 jacqueline@acorn-oak.com. Web. 5) CentralPlaza WestGate. The largest mall in Thailand is the WestGate CentralPlaza, which is located in Nonthaburi Province, Bangkok's suburb. It has over 5.9 million square feet of gross floor area divided into several floors. The largest mall in Thailand, Centralplaza Westgate has cinemas and businesses. materi pkn kelas 12 semester 2 kurikulum 2013 pdf. Use the words given and other words to complete the second sentence so that it has a similar meaning to the first sentence. Do not change the words given use 2-5 words in total ExOur city has five big shopping malls . are => There are five big shopping malls in our city. 1. The Centre Tower is the tallest building in this city. Is => No building in this city....................is taller than................. the Centre Tower. 2. I'll consider it carefully and give you an answer next week. over => .......I will look it over........ and give you an answer next week. đã sửa đề 3. We have never stayed at a worse hotel than this. the => This .....................is the worst hotel................... we've ever stayed at. 4. Please continue doing your work and don't let anything interrupt you. go => Please....................go on.............. and don't let anything interrupt you. 5. I think Da Nang is not so exciting as HCM City. more =>I think HCM City ..................is more exciting than.............. Da Nang taller thanIs as tall as it over the worst hotel on with your work more exciting than 6.→As interesting as this one 7.→The noisiest student in the school 8.→Read a less interesting book than this one 9.→City in Viet Nam more ’ livable ' than Vung Tau City 10.→changed since the 1990s chúc bạn học tốt!!!!!Hãy giúp mọi người biết câu trả lời này thế nào?starstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstarstar5starstarstarstarstar1 vote In recent years, shopping malls have evolved into mammoth structures that are gigantic compared to traditional stores. These structures spanning millions of square feet have become the hallmark of the mall culture in many countries. So which are the biggest malls in the world in terms of the gross leasable area? Dubai Mall worlds largest shopping mall in UAE Dubai in thriving United Arab Emirates. Photo Universal Images Group via Getty ImagesSource Getty ImagesA shopping mall is extremely convenient in today's modern world, and you cannot avoid it. Almost every town or city in the world has a shopping mall. Today, a mall is not just a place for shopping. It has now become a place where you can shop for goods, experience superb entertainment, relax, and do so much more. The largest shopping malls in the world are gigantic structures that spread across millions of square feet. They have hundreds of shops, including cinemas, supermarkets, gaming centres, etc. So the world's largest mall-based on total square feet is located in which country? Here is a list of the biggest malls by gross leasable area. 1. Iran Mall Iran Mall. Photo Ali MohammadiSource Getty ImagesPAY ATTENTION Don't miss trending Kenyan news. Follow on Twitter!This is the world's biggest mall. Its total gross leasable area is million square feet. The mall is located in northwest Tehran in the Middle East. The first phase of the mall was opened in 2018, and the second phase is still in progress. This initial phase holds more than 700 stores selling everything from international brands to Iranian products. It boasts of a 215,000 square feet hypermarket ad a vast showroom. 2. New South China Mall This is the largest indoor mall in the world. It is located in Dongguan in Guangdong province in China. The mall opened its doors to the public in 2005. For more than a decade since it opened its doors, it was practically empty. At the moment, it is almost at full occupancy. The million square feet of the gross leasable area holds more than 2350 stores. It was constructed with a indoor canal that features gondola rides. The mall also contains an 1800-feet indoor roller coaster. 3. SM Mall of Asia This is one of the largest malls in the Philippines. It is located in Bay City, Pasay, Philippines. The mall opened its doors to the public in May 2006. It has a gross leasable area of 589,891 square metres or 6,349,530 square feet. The mall holds more than 600 shops, including 217 dining establishments, 16 cinemas, and other stores. Its parking space can hold more than 8000 cars. 4. SM City TianjinThis is the third largest mall in the world. It is located in Binhai New Area, Tianjin, China. The mall has a gross leasable area of 565,000 square metres. It opened its doors to the public in December 2016. SM City has three structures that are positioned in such a way that they look like a large blossoming flower when viewed from above. The mall hosts supermarkets, cinemas, restaurants, beauty stores, and so much more. The parking space can hold more than 8000 cars. 5. Golden Resources Mall This photo shows the Golden Resources Shopping Mall in Beijing. Photo AFP via Getty ImagesSource Getty ImagesThe mall is located in Haidian District, Beijing, China. Its gross leasable area is 557,419 square metres or 6 million square feet. The mall opened its doors in 2004. At the time of opening, it was the largest mall in the world in terms of the gross leasable area. In 2005, it became the second-largest mall when the South China mall was completed. It features multiple departmental stores, luxury speciality stores, supermarkets, recreational facilities, and so much more. The mall has more than six floors. 6. ICONSIAM Mall The mall is located in Khlong San, Bangkok, Thailand. It opened its doors to the public in November 2018. The mall's gross leasable area is 525,000 square metres or 5,650,000 square feet. The mall holds more than 7000 shops, 100 restaurants, and a floating market. Its parking space can hold more than 8000 cars. The mall has 10 floors, including the underground floor. 7. Utama Mall The mall is located in Bandor Utama, Selangor, Malaysia. It is the largest mall in the country with a gross leasable area of 519,000 square metres or 5,590,000 square feet. The first phase of the mall opened its doors in 1995. It holds 713 stores, including restaurants, cafes, cinemas, and more. The parking space can hold more than 14,000 cars. 8. Central Plaza Westgate The shopping mall is located in Nonthaburi province in Thailand. It opened its doors to the public in August 2015. The mall has a gross leasable area of 550,278 square metres or million square feet. It has 6 floors and a parking space that can hold more than 7000 cars. This mall holds more than 1000 stores, including cinemas, food parks, family mart, and so much more. 9. Central World Mall ThailandThe shopping mall is located in Bangkok, Thailand. It has a gross leasable area of 550,000 square metres or 5,900,000 square feet. The mall opened its doors to the public in April 1990. It holds more than 400 stores, including a central department store, world cinema, restaurants, and so much more. The parking space can hold more than 7000 cars. 10. Mall of America Shopping inside the Mall Of America in Bloomington, Minnesota. Photo GettyimagesSource Getty ImagesThe mall opened its doors to the public in 1992. It is located in Bloomington, Minnesota. The mall has a gross leasable area of 500,000 square metres or million square feet. It holds more than 520 stores and 60 restaurants. The mall also features dozens of fun attractions, including an indoor theme park, movie theatre, aquariums, and so much more. Its parking space can hold more than 12,000 cars. 11. SM City North EDSA The mall is located in Quezon City, Metro Manila in the Philippines. It opened its doors to the public in 1985. Over the years, the mall has seen many expansions, including the construction of Annex 3, which opened its doors in 2006. The gross leasable area is 498,000 square metres or 5,360,000 square feet. It holds more than 1000 stores, including 300 dining outlets and a cinema. The parking space can hold more than 10,000 cars. 12. SM Megamall The mall is located in the Ortigas Centre, Mandaluyong, Metro Manila, Philippines. SM Megamall opened its doors to the public in June 1991. It has a gross leasable area of 474,000 square metres or 5,100,000 square feet. The mall can hold up to 4 million people and more than 4200 cars. It holds more than 960 shops, including over 500 retail shops and over 280 dining outlets, digital cinemas, events hall, and so much more. 13. SM Seaside City Cebu Mall The mall is located in Cebu, Philippines and is the third-largest mall in the country. It opened its doors to the public in November 2015. The mall has a gross leasable area of 470,486 square metres or 5,064,270 square feet. It boasts an ample parking space that can hold more than 4300 cars. The mall holds more than 700 stores, including a large screen cinema, convention centre, indoor arena, and so much more. 14. Isfahan City Centre This is the second-largest mall in Iran after Iran Mall. It is located in Isfahan, Iran. The mall opened its doors to the public in November 2012. It has a gross leasable area of 465,000 square metres or 5,011,000 square feet. The parking space can hold more than 5500 cars. It has more than 750 retail outlets, including a 5-star hotel, museum, hypermarket, restaurants, indoor theme park, and so much more. 15. Persian Gulf Complex Mall Shoppers visit a mall in the Gulf emirate of Dubai during celebrations for the Muslim holiday of Eid al-Adha. Photo Karim SahibSource Getty ImagesThis is one of the biggest shopping malls in Iran. It is located in Shiraz, Iran. The mall has a gross leasable area of 450,000 square metres or 4,800,000 square feet. It opened its doors to the public in September 2011. The complex has more than 2500 stores, including a hotel, tennis court, convention centre, etc. It has an ample parking space that can hold more than 5500 cars. Frequently asked questions about the biggest malls in the world There are so many questions that you could be having at the back of your mind about the biggest shopping malls in the world. Here are answers to some of the most frequently asked questions. Which is the biggest shopping centre in the southern hemisphere? The Chadstone Shopping Centre is the largest in the region. It is located in Malvern East, Victoria, Australia. The shopping centre has a gross leasable area of 2,514,700 square feet or 233,620 square metres. Is the largest mall in the world in Dubai? Dubai Mall is the largest mall in the world at more than 12 million square feet. This is equivalent to more than 50 football fields. However, the gross leasable area is only million square feet. Is Mall of America the biggest mall in the world?It is not the biggest mall in the world, but it is the largest shopping mall in America. The biggest mall globally is Iran Mall, with a gross leasable area of 21 million square feet. There you have it. A comprehensive list of the biggest malls in the world in terms of the gross leasable area. These malls offer one-stop shopping for anything imaginable. If you love travelling and shopping around the world, these malls should be your next stop. published an article about the most beautiful cities in Africa. Undoubtedly, Africa is very developed, far beyond your village and Maasai Mara, even if it is considered to be the poorest on this planet. Conflicts, poverty, diseases, and hunger are just but a tiny part of Africa just like any other continent. Africa is not only home to beautiful savannas, stunning deserts, and amazing wildlife animals. It is also home to some astonishing cities rich in good infrastructure, housing facilities, recreation centres, and the best social amenities. Some of the cities featured on the list include Johannesburg, Tunis, Dar es Salaam, Abuja, and Addis Ababa. Subscribe to watch new videos Source Best Shopping Malls in Montreal The Top 5 Montreal Shopping Malls IndoorsBest Malls to visit or shop in Montreal Shopping is one of the biggest tourist attractions in Montreal. As locals know, boutiques and indie cafes in and around Montreal’s many unique arrondissements are where it’s really at for that true Montreal experience. But that can be overwhelming for tourists, who often want to hit many spots at once. And even locals want that mall experience from time to time, especially once winter sets in, or when you have several items on your list. Luckily, Montreal has that covered for you. Here are the top 5 shopping centres in and around Montreal for all your splurging needs 1. Eaton CentreLet’s start with the obvious. The Eaton Centre is the mall in downtown Montreal. It certainly isn’t the only one, but it is the largest in the heart of downtown and serves as a nerve centre for the many smaller shopping complexes and amenities nearby, which are accessible via passageways from the Eaton Centre. The huge centre houses over 175 stores, restaurants and service outlets, as well as the renowned Grevin wax museum. You can access the Eaton Centre directly from the McGill metro station, at street level, or from one of the many other centres connected to it. Moreover, the Eaton Centre’s proximity to many of Montreal’s most popular attractions makes it a great stop for tourists who want to shop and explore. It’s also a great option when all you need is to grab something quickly or take care of some errands. It is located at 705 Sainte-Catherine O, Montréal, QC H3B 4G5, Canada. 2 - Carrefour LavalA few years ago, Carrefour Laval wouldn’t have made the list. Not because of the shopping experience, but due to accessibility. Today, thanks to the orange line metro extension, you can easily get from Montreal to this awesome mall via public transportation. There is a huge selection of retailers to visit including Zara Home, TopShop, Armani Exchange, Fossil, Forever 21, Coach and of course, Crate & Barrel. The mall itself has a large food court, but it is also surrounded by a variety of restaurants ranging from crowd favourite, Changs, to the trendy Table 51. Carrefour was recently given a facelift that saw the addition of a beautiful indoor garden and massive skylights that give your shopping experience a bright, warm, airy feel, even on the coldest of Montreal days. Additionally, Carrefour Laval has plenty of parking available, as well as an outdoor terrace where you can sit and relax after a long day of shopping. You’ll find yourself in for a treat if you visit. It’s definitely worth the trip. It is located at 3003 Boul. le Carrefour, Laval, QC H7T 1C7, Canada. 3. Quartier Dix30Quartier Dix30 is not easily accessible by public transport. And the size of this outdoor the stores are all indoors, but you access each individual shop from outside shopping complex means it really is best experienced by driving to it and around it. But it makes the list because you’ll find stores here that you won’t easily find anywhere else in Quebec. Stores like Pottery Barn, Williams-Sonoma, Anthropologie, Desigual, Bulk Barn, Frank + Oak, Marshalls and many, many, MANY more. There are also spa services like Rouge Nail Bar, a wide selection of restaurants and several shops devoted to chocolate. Yes. Chocolate. Furthermore, Quartier Dix30 is easily one of the best places to do your Christmas shopping. The lights and decorations make for a perfect winter wonderland, and the stores offer deals on plenty of items to make sure you get your money’s worth. It is located at 9090 boulevard Leduc, Brossard, QC J4Y 0E9. 4. Carrefour AngrignonCarrefour Angrignon is a bit of a hidden gem, located in the very accessible city of Lasalle. The relaxed atmosphere and range of retailers make this a great place to wander away an afternoon. What really puts Angrignon on the list is the collection of old school favourites like Jean Bleu, Payless, Ardene, BestBuy and Bentley, as well as a few unique spots like Hockey Experts, eXpertComics, Sunrise Records, TradeSecrets and Le Coin du Jouet. Also, it is worth noting that Carrefour Angrignon may be located in the suburb, but it does boast some of the same amenities and services as larger shopping centers. These include a food court and restaurants, banks, travel services, an art gallery/museum, and even a movie theater! It is located at 7077 Bd Newman, LaSalle, QC H8N 1X1, Canada. 5. Centre RocklandLocated in the Town of Mount Royal, Rockland is an upscale shopping experience for Montrealers who want to look and feel their best. It’s a place to truly see and be seen. Here you’ll find such retailers as Stuart Weitzman, Change, Rudsak, Michael Kors, L’Occitane en Provence, m0851, Tom & Capucine, SoftMoc and Sephora. There’s also a Nautilus Plus, Magenta Photo Studio and valet service during the busy holiday shopping season. Further, Centre Rockland has a great selection of restaurants, including Joey’s, Bâton Rouge Steakhouse & Bar, and La Cage Aux Sports, as well as a movie theater. If you’re after a full day of shopping and entertainment, this is the place to be. It is located at 2305 Chem. Rockland, Montréal, QC H3P 3E9, Canada. BONUS RÉSO aka. the underground mallNo Montreal mall list would be complete without at least a mention of the underground mall. The underground, or RÉSO, as it is officially called, is more a series of halls and passageways connecting the various shopping centres, hotels, major complexes and transit centres throughout the city. Throughout the roughly 33km of tunnels, you’ll find a variety of hidden and not so hidden gems where you can pick up unique gifts, grab a bite to eat, get the perfect espresso or even settle in for a classic Montreal 5a7. Moreover, the underground mall is open all year round, and in addition to connecting several main shopping centers and downtown sites, it also serves as a respite from Montreal’s long and often-harsh winters. So it’s definitely worth a visit if you find yourself in the city during this time. Whether you’re looking to pick up something special or want to explore a little, the underground mall is always an interesting adventure! It is located at 747 Rue du Square-Victoria 247, Montréal, QC H2Y 3Y9, Canada. What Are You Waiting For? With these five great Montreal shopping spots, you’re sure to find something unique and special for your friends and family. Whether it’s a gourmet food item, a special piece of clothing, or the perfect gift for someone, you won’t be disappointed. So don’t wait around — get out there and find something special! Happy shopping! Enjoy! Conclusion Montreal is a great city for shopping, with a variety of malls, centers, and complexes to suit any budget. You’ll find both high-end retailers and classic favorites all around the city. Be sure to take time out of your day to explore these awesome shopping destinations. You never know what hidden gems you might find! FAQs Why should I visit the malls in Montreal? Visiting the malls in Montreal is a great way to experience the city’s vibrant shopping culture. Whether you are looking for high-end fashion or unique souvenirs, you’re sure to find something that appeals to you. Plus, these malls offer a chance to explore the city’s history and culture, as many of them boast a variety of local eateries and attractions. Are there any unique shopping experiences in Montreal? Yes! The underground mall, or RÉSO, is a series of tunnels and passageways connecting various shopping centers, hotels, complexes, and transit stations around the city. Here, you can find unique gifts, souvenirs, and some classic Montreal specialties. What stores can I find in Montreal malls? Montreal malls offer a variety of stores, ranging from high-end fashion retailers to classic favorites. It all depends on where you go. Officially shopping malls are defined as “one or more buildings forming a complex of shops representing merchandisers, with interconnected walkways enabling visitors to walk from unit to unit.”1 Unofficially, they are the heart and soul of communities, the foundation of retail economies, and a social sanctuary for teenagers everywhere. In recent decades, the concept of the shopping mall, which has its origins in the and became a full-blown modern retail trend there in the post-WWII years, has proliferated across the globe. The five largest malls in the world now reside in Asia. China’s New South China Mall in Dongguan stands at the top of the heap with million square meters of space. Despite its ubiquity, the mall as it’s been conceived for the last half century is at a critical inflection point. A storm of global trends are coming together at the same time to cause malls to change the role they play in people’s lives. No longer are they primarily about shopping. Now, when consumers visit malls, they are looking for experiences that go well beyond traditional shopping. The trends helping to create this change include changing demographics, such as an aging population and increased urbanization, which means more people living in smaller spaces and a greater need for public spaces in which to socialize and congregate. In this environment, malls offer a welcome watering hole, especially in cities where other public spaces are not safe. Sustainability concerns are causing some consumers to prefer mixed use developments where they can live, shop and work all within walking distance – instead of having to get into a car and drive to a crowded suburban mall. The growing middle classes in Latin America and Asia maintain a strong association between consumption and pleasure, driving the need for more engaging shopping experiences. And finally, the e-commerce revolution and the rise of digital technologies are fundamentally reshaping consumer expectations and shifting the function of stores toward useful and entertaining customer experiences. As these trends advance across the global stage, they are forcing mall operators to rethink how they conceive and operate their properties. This identity crisis is most intense in the the country that pioneered malls and has the most malls per inhabitant. Thanks to a continued economic slowdown and rapid advance of the digital revolution, the mall industry is retracting and facing high vacancy levels. Websites such as collect pictures of weedy parking lots and barren food courts, and try to explain how once-thriving shopping centers began to spiral downward. In the face of these considerable challenges, malls are seeking to stay relevant, drive growth and boost efficiency. We see successful players investing along three key fronts. 1. Differentiating the consumer offering, with a focus on experience and convenience. Online shopping provides consumers with ultimate levels of convenience. Malls will never be able to compete with the endless product selection, price comparisons and always-on nature of online. Nor should they try. Instead, malls need to move in a different direction, away from commoditized shopping experiences and toward a broadened value proposition for consumers. Innovative malls are incorporating value-added elements that attempt to recast the mall as the new downtown, including concerts, arts centers, spas, fitness clubs, and farmer’s markets. These services provide a level of leisure and entertainment that can never be satisfied online. Xanadu, a mall 30 km from Madrid, for instance, has gone out of its way to provide the means for parents to spend quality time with their children. The mall features a ski slope, go karts, balloon rides, bowling and billiards. Similarly, the Mall of America in Minnesota has an underwater aquarium, a theme park, and a dinosaur walk museum. In Brazil, for instance, a new focus on leisure and entertainment is already driving growth. Revenue coming into malls from these offerings grew 41 percent in 2013 compared to 2012. An emphasis on fine dining and events is also helping to make malls the hub of the local community – a place to share quality time with friends and family, not just wolf down a meal at the food court. The King of Prussia Mall, located 30 km from Philadelphia, has a Morton’s Steakhouse and Capital Grille. The Crystal Cove shopping center in Newport Beach, CA has more than a dozen upscale restaurants, including Tamarind of London and Mastro’s Ocean Club. On the tenant mix front, innovative malls are strategically rethinking the types of stores that consumers will respond to. Anchor tenants that drive traffic are still key, but we also see a new emphasis on a curated mix of smaller stores that add a sense of novelty to the mall offering. Additionally, some malls are making greater use of temporary, flexible spaces that can accommodate different stores over time. Pop up stores, showroom spaces and kiosks provide customers with a sense of the unexpected and give them a reason to treasure hunt. Finally, malls are overcoming the commoditization problem by focusing on specific consumer segments and/or creating specific zones within the mall that allow consumers to find an area that caters to them. In the Dubai Mall, for instance, “Fashion Avenue” is an area dedicated to luxury brands and services tailored to the upscale customer, including a separate outside entrance and parking area. In the 7-story CentralWord mall in Bangkok, home décor is on the 5th level, technology on the 4th, and fashion apparel on 1-3. This approach also represents a way for malls to ensure that customers don’t get lost inside the ever increasing square footage of malls. 2. Transforming the mall experience by leveraging technology and multichannel strategies. The digital transformation of retail is not all bad news for malls. On the contrary, it presents new opportunities for malls to engage consumers throughout their decision journeys. There are three primary ways in which malls are leveraging technology First, they are extending their relationships with customers to before and after the mall visit. This is about engaging customers through compelling content and creating deeper bonds with them through social media and proprietary sites and apps, as well as loyalty programs. Social media can be used, for instance, to create buzz about new tenants or solicit ideas from consumers about ideas for new stores. One mall company has utilized segmented Facebook communication to speak to different communities, such as different geographies or interest groups or specific malls. Mall loyalty programs can provide the means for malls to establish a direct relationship with customers that goes beyond each visit to the mall, while allowing malls to collect precious information about customers. Just like retailers, malls should reach out to their customers with customized offers, gift ideas and other targeted advertisements based on real time intelligence and location-based marketing. While malls face the challenge of not having direct access to shopper purchase data, this can be overcome by inducing shoppers to use their smartphone to scan purchase receipts in exchange for points that can be redeemed for concerts tickets, books, discount vouchers for participating merchants, free parking or invitations to events a fashion show. Alternatively, technologies such as face recognition, location-based mobile ads, and beacons are already being successfully applied in order to identify and establish targeted contact with repeat customers. Such technologies are also valuable for gathering consumer behavioral data from which malls can glean useful insights. Secondly, malls are using technology to transform mall usability as a means of improving customer satisfaction. There is ample opportunity for malls to decrease customer pain points, while simultaneously creating entirely new delight points. Technology, for instance, can be used to address one of the biggest challenges shoppers face at the mall – finding parking. Sensors located in parking lots detect how many spots are available on each level and give visual indicators to drivers. Once within the mall, mobile apps can offer quick, easy guides to help shoppers find what they’re looking for at today’s increasingly large and multi-level malls. Thirdly, malls are utilizing digital capabilities to take the shopping experience to the next level. It critical for malls to take a more active role in shaping the shopping experience, either by acting more like retailers or by partnering with them. Mall players are experimenting with a variety of different business models to make this happen, but there are no certain winners yet. To introduce elements of e-commerce into the mall, Taubman partnered with Twentieth Century Fox to put virtual storefronts – “Fox Movie Mall” – in at least 18 luxury malls. There, shoppers can purchase movie tickets by scanning a QR code with their smartphone. As the barriers between online and offline blur, some mall operators are venturing into online with a complete virtual mall offering. In 2011, the Australian mall company Westfield launched an online mall and later a mobile app with 150 stores, 3,000 brands, and over 1 million products. The company collects a small listing fee from merchants, as well as a commission of between 20-30 percent on every sale. Driven by the knowledge that 60 percent of the billion annual shoppers in its malls use mobile devices, Westfield also created a research lab located in San Francisco, with the mission of finding technology applications and services that can further enhance the retail experience for both shoppers and retailers. 3. Exploration of new formats and commercial real estate opportunities. The most innovative malls today look nothing like their predecessors. Although location remains the key real estate consideration for malls, a differentiated design and structure is increasingly important. Open air malls go a long ways toward lending an atmosphere of a town center, especially when they incorporate mixed use real estate. Many of the malls being built in urban areas are open and fully integrated with the landscape. The Cabot Circus Shopping Centre in Bristol, England, for instance, has a unique shell-shaped glass roof that’s the size of one and a half football fields. Incorporating environmental sustainability considerations, the mall is accessible by public transportation and features a rainwater harvesting system. Even malls that are enclosed are now incorporating more natural ambiance into their design, installing plants and trees, wood walls and floors, waterfalls, and lots of glass to let in natural lighting. Such elements help malls better blend in with their surroundings. It is critical that malls be about much more than stores. We see the mix of tenant/public space moving from the current 70/30 to 60/40, or even 50/50. When this happens, these expanded public spaces will need to be planned and programed over the year much like an exhibition. They will be managed more like content and media, instead of real estate. Mixed used developments offer consumers an attractive, integrated community in which to live, work and shop. They also serve to generate additional traffic for the malls while maximizing returns on invested capital. Other commercial real estate opportunities that can add alternative revenue streams are hotels, office buildings and airports. Lastly, outlets malls are an increasingly popular alternate format in more mature markets such as the particularly after the downturn of the economy, and they have been a key driver of growth for many players. In emerging economies like Brazil, outlets are also gaining attention and we see mall operators experimenting with this format as a means of attracting price conscious consumers and deal seekers. Implications for malls Although these trends are expressing themselves to varying degrees in different markets around the world, we believe they are relevant globally and should be taken to heart no matter where mall companies operate. There are three strategic considerations that players should understand when figuring out how to best react. 1 Evolve the offering by defining a clear value proposition for both consumers and retailers, anchoring it on deep consumer insights and bullet-proof economics. Among the large universe of options for enhancing the customer experience, it is possible to identify initiatives that will be both ROI-positive and substantially boost the satisfaction customers have toward malls. To do this, mall players must first isolate and quantify the consumer touch points that are most responsible for driving satisfaction. Use these touch points to prioritize areas of investment and to design a cohesive customer experience program that will yield higher visit and/or spend rates, and ultimately greater consumer loyalty. 2 Increase productivity and efficiency of the current mall base through a strategic review of the tenant mix, taking into account consumer needs and retailer economics. This analysis should guide the management of rent pricing and overall commercial planning. On the cost front, the focus should be on strict management of direct and indirect costs, combined with operational efficiency, which is critical for successful customer experience transformations. 3 Think surgically about where and how to grow in a way that won’t jeopardize returns. Focus on city clusters and regions that have distinctive opportunities for growth. This includes thinking purposefully about disciplined capex management and which formats are going to create the biggest impact, whether that’s traditional, multi-use, neighborhood or outlet. Executing against these considerations will often require that mall players develop new capabilities. Westfield, for example, has established a Digital Office group that reports to the CEO with the mission of spearheading digital initiatives across the organization. Other companies have created “customer experience” teams that are responsible for creating and integrating a unified vision of customer initiatives. Still others have created retail teams responsible for working on partnerships with retailers, or alternatively, operating retail operations themselves. The world of retail is changing dramatically, but the mall still can have a central role in urban and suburban societies. To avoid becoming what one chief executive calls a “historical anachronism – a sixty-year aberration that no longer meets the public’s needs,” mall operators must expand their horizons of what a mall can be. They must envision themselves no longer as real estate brokers, but instead as customer-facing providers of shoppable entertainment.

our city has five big shopping malls