There are curently 34 shopping mall projects under construction in Mexico right now comprising a total of 15.8 million square feet of leasable retail space expected to be completed in 2018. That is roughly twice the amount of mall square footage delivered last year, according to MAC Arquitectos, a Mexico City design firm and consultancy.
In the U.S., by contrast, one quarter of the country’s roughly 1,200 malls are expected to close over the next five years, according to a recent Credit Suisse report.
Part of the reason is simple supply and demand. The U.S. is vastly over-retailed, with nearly 2,751 square feet for every 1,000 people in 2017, compared with just 210 square feet per 1,000 inhabitants in Mexico, according to brokerage JLL.
What’s more, a growing middle class in Mexico is gravitating toward more formal retail—shops and malls instead of the urban outdoor markets, also known as tianguis, that dot the cities across the country.
The “shopping Mall” concepto is evolving in Mexico, instead of relying on big department store anchors to drive foot traffic to smaller apparel shops, shopping malls in Mexico have grocery stores, play areas for children, sit-down restaurants, and yes, even roller-coasters.
more recommended stories
Maya craftsman receives support from the British Museum to create pigment
Luis May found the plant that.
Citizens and family march to demand justice for the alleged femicide of Arlette
Mérida, Yucatán, (May 17, 2021).- Friends,.
Tourism promotes the sale of typical clothing in the Yucatan Peninsula
The sale of typical clothing has.
American tourist found dead in a hotel room in Playa del Carmen
His companions tried to wake him.
Yucatán will have to regulate vertical real estate growth: AMPI
Due to the migration of people.
Playa del Carmen will host the National Congress of Speleology
The event will take place from.
Cancun teen is accepted into NASA’s International Air and Space Program
Student from Cancun makes notebooks to.
Merida municipal government will promote the Maya culture
Mérida, Yucatán, (May 17, 2021).- “In.
Teacher’s vaccination campaign to begin in Yucatan on Tuesday, May 18th
Mérida, Yucatán, (May 17, 2021).- Active.
Central Americans returned to Mexico are targets for abuse and violence
REYNOSA, Mexico — Thousands of migrants.