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RAYMOND J. CHETTI
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4/6/2014
Retail Development - March 2014
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Retail Development
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Raymond Chetti
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MAF To Develop $467m Mall of Oman Project - Gulf Business
From
gulfbusiness.com
-
Today, 5:55 PM
The mall, set to become the largest shopping destination in the Sultanate, will house 350 stores.
Raymond Chetti
's insight:
Overview: Investment: OMR180 million ($467.5 million) GLA: 157,000 sm Stores: 350 Anchors: Carrefour, VOX Cinemas, Magic Planet MAF is presently investing over OMR30 million to renovate and upgrade both Muscat City Centre and Qurum City Centre, which are due to be completed in 2014.
Emporium: Melbourne's new retail wonderland, all under one roof
From
www.theage.com.au
-
Today, 5:48 PM
City's new retail wonderland will rival Chadstone for space and pulling power, write Simon Johanson and Christina Zhou.
Raymond Chetti
's insight:
Emporium (developed by CFS Retail Trust) will revitalization Melbourne's downtown area by creating a retail area (188,000 sm) that will rival suburban shopping centre, Chadstone (GLA: 190,000 sm). Will this development bring retail spending back to the city's downtown?
Dividing Blocks and Adding Vitality to Salt Lake City - Urban Land Magazine
From
urbanland.uli.org
-
March 18, 2:05 PM
The development arm of the Mormon Church redevelops the urban heart of Salt Lake City, Utah, with a new, large-scale, integrated mixed-use concept.
Raymond Chetti
's insight:
Taubman's City Creek divides Salt Lake's super blocks into small walkable quads increasing both walkability and the sustainability of their new center.
Crown Jewel to open in Singapore by 2018 - COMMUNITY INPUT requested by DEVELOPERS!
From
inside.capitaland.com
-
March 12, 4:34 PM
Iconic landmark, Project Jewel, is set to be a world-class lifestyle destination in Singapore and you can be a part of it!
Raymond Chetti
's insight:
One of the first major retail development projects I've seen in Asia that has solicited feedback from local community members. Anyone can submit their ideas for the project to www.changiairport.com/projectjewel. This is an extremely western style type of planning & development project, which is interesting to see being implemented in Asia. Hopefully they receive a lot of helpful local community feedback that helps the project become successful! Development Concept: Mixed-use development with over 1.4 million sf that includes airport operations facilities, retail & leisure attractions. Area: hotel - 51,000 sf, retail offerings - 576,000 sf, airport operations - 185,000 sf of facilities for airport operations, entertainment/leisure - 238,000 sf.Players: Changi Airport Group & CapitaMalls Asia Limited Designers: Moshe Safdie, Benoy, RSP
Dubai mall developer launches new 'local' retail concept
From
www.arabianbusiness.com
-
February 25, 10:23 PM
Majid Al Futtaim says it plans to open several My City Centre neighbourhood centres across the UAE
Raymond Chetti
's insight:
Since MAF has built out their super regional retail centres in the region it appears they are hoping to penetrate an even more psychographic group that values convenience.
Countdown starts to opening of first NYC mall in 40 years
From
www.rew-online.com
-
February 23, 10:04 PM
The first enclosed fashion mall to open in New York in over 40 years is on schedule to open this summer with a high profile roster of retail tenants.
Raymond Chetti
's insight:
The Mall at Bay Plaza will have 780,000 sf of retail space spread out over 100 retail tenants and will be leased by Welco Realty Inc. Anchor shops include 160,000 sf Macy's and an existing JC Penney; other key shops include H&M, Victoria’s Secret, American Eagle, The GAP, and more.
Philippines based Festival Supermall embarks on massive ground expansion
From
business.inquirer.net
-
February 23, 9:29 PM
Festival Supermall, a premier development in Filinvest City, Alabang, Muntinlupa City, recently completed the initial phase of its upgrading and rebranding efforts that began in 2013.
Raymond Chetti
's insight:
About Festival Supermall's "River Park" project attempts to provide customers with an array of diverse EXPERIENCES that include: "romantic" nightlife dining destinations for couples, family friendly/kid-friendly F&B, "power lunch hot spots" for office workers, and more. It also includes a 1.5km creek, natural green park, and amphitheater. River Park will be the new "IT" place for shows, concerts, and events.
Aeon in RM700mil expansion mode, going into smaller towns - Business News | The Star Online
From
www.thestar.com.my
-
February 21, 9:11 PM
KLANG: Japanese retailer Aeon Co (M) Bhd has set aside RM700mil this year to open three new Aeon outlets and two MaxValu stores as it boosts spending to expand its presence into smaller towns.
Raymond Chetti
's insight:
AEON is making big moves as it hopes to expand its presence in Bukit Mertajam, Penang and Taiping, Perak.
China Leading Global Retail Development Explosion in 2014
From
www.worldpropertychannel.com
-
Today, 5:51 PM
A total of 39 million square meters of new shopping center space is currently under construction across the world's major cities.
Raymond Chetti
's insight:
More than half of all new retail development (19.5 million sm of retail area) is taking place in China. Shanghai takes first position with 3.3 million sm of space under construction - more than the combined total of all 86 European cities excluding those in Russia and Turkey. Just behind Shanghai is Chengdu with 3.2 million sm followed by Shenzhen and Tianjin with 2.7 million sm and 2.5 million sm under construction respectively. In Southeast Asia, nearly 40% of the 3.3 million sm are under construction is located in Kuala Lumpur, making it the 12th most active market globally.
Central & Eastern Europe leads shopping centre development activity in 2013 and 2014
From
www.property-magazine.eu
-
Today, 5:41 PM
Central and Eastern Europe (CEE) continued to dominate shopping centre development activity last year and accounted for nearly 70% (2.4 million sq m) of all space added to the...
Raymond Chetti
's insight:
Total European shopping centre floorspace now stands at approximately 154 million sq m of GLA as at 1 January 2014. France remains the largest market by shopping centre space, with 17.3 million sq m of GLA, followed by the UK in second place with 16.93 million sq m and Russia in third with floorspace now exceeding 16.86 million sq m. However, Russia is expected to replace the UK as the second largest market by the end of this year. Looking forward to 2014, there are 203 new shopping centres due for completion across Europe; and 127 of these will be delivered in Central and Eastern Europe.
Construction Begins on New Jerde-Designed Shinsegae Mixed-Use Retail Transit Hub Development in South Korea
From
finance.yahoo.com
-
March 13, 4:35 PM
Known as one of the premier world-class brands in South Korea, Shinsegae has begun construction on the nearly 145,000 square-meter Kimhae Center located in South Gyeongsang Province.
Raymond Chetti
's insight:
Great to see another #Shinsegae #신세계백화점 project that I provided development consulting services for break ground...all those days working in the consulting sweatshop at Thomas A.P. is finally paying off :) Can't wait to visit it few years later!
Metro Vancouver malls go al fresco (with video)
From
www.vancouversun.com
-
March 2, 5:21 PM
Traditional indoor shopping centres are reinventing themselves as open-air emporiums
Raymond Chetti
's insight:
Several Canadian malls including Oakridge, Park Royal, and Brentwood, Lougheed, are redeveloping their assets to integrate more outdoor/open air features that connect to their surrounding communities. Some centres are even redeveloping their surface parking to integrate other mixed-uses such as residential/office/hotel functions. This is true PLACEMAKING.
Shinsegae breaks ground on Daegu mixed-use, retail shopping mall project in S.Korea
From
koreajoongangdaily.joins.com
-
February 25, 10:18 PM
More than three years after Shinsegae Group was selected to build a multipurpose transportation hub in Dong District, Daegu, the retailer yesterday held a groundbreaking ceremony attended by Vice Chairman Chung Yong-jin and Daegu Mayor Kim Bum-il.
Raymond Chetti
's insight:
Finally, the project that I've worked on with colleagues is breaking ground! Looking forward to visiting when it opens in the later half of 2016! Quick Stats: Land Area: 36,360 sm GFA - 296,841 sm Investment: US$744.3 million
Gulf investor interest highlights Egypt’s retail upside - Daily News Egypt
From
www.dailynewsegypt.com
-
February 23, 9:38 PM
Dubai-based retail group Majid Al Futtaim (MAF) has plans to invest around US$2.3bn in Egypt over the coming years
Raymond Chetti
's insight:
Majid Al Futtaim will be investing (EGP 3.2bn (US$458.4m) to expand its Maadi City Centre Mall and several millions on their Mall of Egypt project, a 162,500 sm super-regional mall in Cairo that is expected to open in 2015 or 2016.
Aeon opens its first shopping mall in Vietnam; plans for Indonesia & Cambodia malls in 2014 - Nikkei Asian Review
From
asia.nikkei.com
-
February 21, 9:16 PM
HO CHI MINH CITY -- Japanese retailer Aeon on Saturday opened its first shopping mall in Vietnam. The Aeon Mall Tan Phu Celadon, located outside t
Raymond Chetti
's insight:
Positioning: 120 retailer, mid market mall with with about 15 to 30 new to market brands from Japan.AEON hopes to bring its malls to Indonesia & Cambodia in 2014.
Bahrain's Dragon City targets Chinese tourists in GCC just like Dubai's Dragon Mart | The National
From
www.thenational.ae
-
February 21, 6:17 PM
Bahrain is set to open a massive China-themed mall as part of a trend towards Chinese retail in the Gulf.
Raymond Chetti
's insight:
Expected open: Sept 2014 Investment: US$3.2 billion Area: 46,000m2 (phase 1); Players: Cluttons (official agent), Kuwait Finance House Bahrain (developer), Chinamex, and other private GCC based investors. Positioning: wholesale & discount/lower price point. Follows concept of Dubai based Dragon Mart. Expected annual visitors per annum: 1 to 2 million
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About Me
My primary interest lies within our built environments and how to better improve them. This newsletter will primarily focus on retail development news from around the world.
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