Meaning of Mall
2. A large, often enclosed shopping complex containing various stores, businesses, and restaurants usually accessible by common passageways. 4. A street lined with shops and closed to vehicles. 3. A shady public walk or promenade.
South China Mall
Location: Dongguan, China Year Opened: 2005 Gross Leasable Area: 7.1 million square feet
Golden Resources Shopping Mall
Beijing, China Year Opened: 2004 Gross Leasable Area: 6 million square feet
SM Mall of Asia
Location: Pasay City, Philippines Year Opened: 2006 Gross Leasable Area: 4.2 million square fee
West Edmonton Mall
Location: Edmonton, Alberta, Canada Year Opened: 1981 Gross Leasable Area: 3.8 million square fee
King of Prussia Mall
Location: Philadelphia, Pennsylvania, USA Year Opened: 1962 Gross Leasable Area: 2.8 million square feet
Berjaya Times Square
Location: Kuala Lumpur, Malaysia Year Opened: 2005 Gross Leasable Area: 3.4 million square feet
Mall ManagementA Growing Phenomenon in Indian Retail Industry
§The Indian retail market is expected to continue its growth trajectory into 2010. §Mall management has been identified as a critical factor for the success of malls and the retail industry across the world. §Mall management broadly includes mall positioning, zoning, tenant mix, promotions/ marketing and facility/finance management. §Currently, the Indian retail market lacks designated mall management firms. Large real estate developers and retail chains either have their own mall management arms operating as subsidiaries or have contractual agreements with international property consultants.
Cont… §Till recently, mall management was limited to facility management by a majority of developers in India, leading to gaps in mall management practices. §Given the high future supply of malls and increasing competitiveness within
What is Mall Management? §Globally, mall management broadly includes: positioning a mall §zoning – formulating the right tenant mix and its §placement in a mall §promotions and marketing §facility management – infrastructure, traffic and ambience management
The Single Purpose of Retail Property Development
= Value Creation!
To Start the Value Creation Process you need 3 things:
1 A Good Location 3 A Good Location 4 A Good
Positioning a Mall Positioning a mall refers to defining the category of services offered based on demographics, psychographics, income levels, competition in neighboring areas and extensive market research of the catchment. For example, if the market research indicates that the average number of households living in a particular area belongs to the upper middle class,
An example of this practice can be seen in the upcoming malls Select City Walk in Saket DLF’s Emporio in Vasant Kunj.
Positioning also refers to the
location of the shopping mall. A good location defined in terms of factors like ease of access via roads, good visibility, etc. is considered as one of the prime prerequisites for a mall. Although other activities such as trade/tenant mix can be revisited or redefined, the location remains fixed, making it an imperative
Zoning – Formulating the Right Tenant Mix and Its Placement in a Mall Tenant mix refers to the combination of retail shops occupying space in a mall. A right tenant mix would form an assemblage that produces optimum sales, rents, service to the community and financiability of the shopping mall venture.
refers to the division of mall
The Forum Mall is designed in a ‘dog bone’ fashion, an anchor tenant at each end and vanilla retailers in the middle. Landmark and Westside are the anchor tenants of this mall, and the food court is positioned on the top floor to attract consumers vertically up. Forum Mall was built in 2003 and was the first mall in Bangalore City. Since then, six new malls have been constructed in the...