Sunday 24 September 2023

Retail Growing in Malls

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23 September 2023 - At The Banks - Source: BCCR

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(QCOSTARICA) So far in 2015 12 shopping centres have been opened, in different formats, and by December 36 more projects will have been inaugurated, plus another 30 next year.

The tendency to build small shopping centres, open squares and mixed use areas has been highlighted by industry experts as the main differentiator compared to previous years when the development of large shopping centers predominated.

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Francisco Navarro, manager of Market Intelligence at Colliers, explained that “… ‘The mall model has changed, construction in this format has decreased and now they are concentrating on remodeling. Open shopping squares are those that have been in constant development ‘.

“… 2015 is projected to be a promising year for the commercial sector due to the opening of several projects within the greater metropolitan area and beyond. One of the openings that is drawing the most attention is that of the City Mall in Alajuela, which will be the largest mall in country and the Central American region built in one stage. ”

In 2016 “…Real estate firms report that, to date that … there will be 30 new projects starting operations. Among them is Terrazas de Lindora, whose opening was planned for this year, but will now be in May 2016. This project will have commercial spaces ranging from 60 to 400 m². ”

City Place in Santa Ana is expected to open in July 2015
City Place Town Center in Santa Ana (across from Mas x Menso) is expected to open in July 2015

Source: Nacion.com; Centralamericandata.com

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