The report also showed findings of the top markets for shopping center completions in 2016, in which China accounted for seven cities on the top 10 list, with Shanghai leading the pack with a whopping 1.1 million square meters of shopping center completions last year—a feat that might seem somewhat expected to the city’s residents.
Retail completions in Beijing came at a not too distant second place, with 801,540 square meters of development. Mexico City made third on the list, as the only market from the Americas to place on both the top center completions and development rankings. With retail construction also decreasing in Russia and Ukraine, Chinese cities Chongqing, Chengdu, Nanjing, Shenzhen, and Tianjin all helped to make up the total of seven Chinese cities on the list.
As retail investors globally maintain a cautious outlook amid economic and political uncertainty, it seems the Chinese market has continued to power ahead with vast development in the industry, and in the process, continue to draw the attention of international luxury brands.