A Nation Of Shoppers??!!

Forbes magazine recently unveiled the TEN world’s largest mall…

Here is the list:

1. South China Mall
Location: Dongguan, China
Year Opened: 2005
Gross Leasable Area: 7.1 million square feet

2. Golden Resources Shopping Mall
Location: Beijing, China
Year Opened: 2004
Gross Leasable Area: 6 million square feet

3. SM Mall of Asia

Courtesy of Forbes.com

4. Cevahir Istanbul
Location: Istanbul, Turkey
Year Opened: 2005
Gross Leasable Area: 3.8 million square feet

5. West Edmonton Mall
Location: Edmonton, Alberta, Canada
Year Opened: 1981
Gross Leasable Area: 3.8 million square feet

6. SM Megamall

Courtesy of Forbes.com

7. Berjaya Times Square
Location: Kuala Lumpur, Malaysia
Year Opened: 2005
Gross Leasable Area: 3.4 million square feet

8. Beijing Mall
Location: Beijing, China
Year Opened: 2005
Gross Leasable Area: 3.4 million square feet

9. Zhengjia Plaza
Location: Guangzhou, China
Year Opened: 2005
Gross Leasable Area: 3 million square feet

10. SM City North Edsa

courtesy of Forbes.com

From Forbes’ Tom Van Riper…

``They're springing up in Asia, but will they all last?

``Heading out to the mall--isn't that yesterday's way to shop?

``Not in Asia, where land is cheap and labor costs are low. A building boom has enormous shopping malls popping up in China, Malaysia and the Philippines, with India expected to jump into the fold soon. Based on gross leasable area, or the amount of space devoted to revenue-producing operations like stores, amusements and food, the continent is home to nine of the world's 10 largest malls, six of which have been built since 2004. That's added some 27 million square feet of shopping space to cities like Beijing and Guangzhou in China and Kuala Lumpur in Malaysia.”

Implications:

For Asia: does this signify signs of times…a booming Asia???

For the Philippines: 3 out of the 10 largest among the world’s malls! What an irony! Statistics say that the Philippines is classified as a “poor” country.

Yet to sustain 3 of the world largest malls (+more coming!) suggest that statistics “more than meets the eye”.