Gap, Arcoretail, Pinkberry and China Chain Store & Franchise Association were all at MAPIC explain why the commercial real estate market in China is still the hottest market in the world.
Commercial Real Estate market in China still booming
Lucy Wu, Vice Secretary General of China Chain Store & Franchise Association says despite difficulty in some retail markets, shopping centres and convenience stores are still growing very fast. Senior VP of Global Real Estate GAP , C David Zoba, couldn’t have put it more clearly: China built 350 malls last year. America built 2. CEO of Arcoretail expresses the need for entertainment in Chinese shopping malls, as the consumer is demanding a greater shopping experience. Wanda, one of the largest commercial real estate companies in China explained however, that Chinese shopping malls seek older trusted retailers. Ryan Patel, with Pinkberry, mentioned that a lot of these retailers do have a difficult time expanding into China and need to establish a set strategy before implanting.
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