New shopping malls to be built in different parts of Mexico

The Island Merida North Cape, under construction (Image: Google)

Inflation has not stopped the consumption and growth of Mexico’s shopping centers. This year, 39 new shopping malls will  open its doors in Mexico, which together represent 1,817,861 square meters more to the inventory of these spaces in the country, according to information from real estate broker CBRE.

The report on Perspectives of the Retail Market for 2018 detailed that the shopping centers will increase their proportion in the market, because some of this extension will open this year like the Distrito La Perla, in Guadalajara, Jalisco.

“This year there will be an important incorporation of shopping centers such as Mítikah in Mexico City and La Isla in Mérida, Yucatán; This confirms the tendency to maximize available land which started in 2016,” said Yadira Torres, director of Market Research at CBRE.

In addition, the expansion of existing shopping centers will continue due to the arrival of new international brands, which demand more flexible and modern spaces, because they are now more specialized and aimed at specific  market segments.

The new brands include apparel for women and sporting goods in 25%, followed by swimsuits and clothes for men, with 13%, each.

The new brands that will open stores in Mexico are coming from different countries, such as Colombia and Japan, mainly, with 33%, each one; followed by England and Holland, with 17%, each. “Mexico City is becoming denser than extensive, the services inside attract people that live around certain areas, so they don’t have to go out to the outskirts where transportation and other services are limited.”

“In the reconversion areas of the metropolitan area, the concentration of consumers is higher,” added Luis Llaca, Vice President of Retail Latin America at CBRE.

CBRE indicated that the Metropolitan Area of ​​Mexico City (ZMVM) will continue in first place with the extension of commercial inventory during 2018, because 20 new shopping centers will come into operation, representing 50% of those that will be built nationwide, contributing almost 900 thousand square meters to the inventory.

CDMX will end 2018 with 232 shopping centers in total.

Only in January, two new centers were opened, one in the Hipódromo area and another in the south of the city, near the exit to Cuernavaca.

There will also be an increase in the construction of Power Centers, smaller shopping centers dominated by several anchor stores, in the State of Mexico.

In Monterrey, the opening of two new malls featuring luxury brands is expected for this year.

In Guadalajara, the start of operations of two shopping centers is expected. In Puebla new commercial areas area under construction.

In Cancun, since 2009, no new shopping center has been not opened, but a Power Center of 20,000 square meters is being built, and could be fully functional by the end of this year.

TYT Newsroom with information from yucatan.com.mx



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