Are they selling at western price levels or something? Besides the Grand Gateway mall, the others look empty.
The prices for western brands ar actually higher. And yes they are empty. The only large scale shopping mall that is fully occupied and busy is Grand Gateway. The Super Brand mall is about 30% occupied. Plaza 66 has an occupancy of about 50%. There are much more nearly empty shopping malls e.g. at Huahai Road, like the Times Square and the Shanghai Square.superchan7 said:Are they selling at western price levels or something? Besides the Grand Gateway mall, the others look empty.
They do not make (much) money. But they also have favorite investment conditions. (Continued below..)superchan7 said:Hmm...where's the money being made then? =(
No (some of them).Saigonese said:Didn't these guys do proper market analysis before embarking on such projects?
First: Yes, many malls. Second: Shanghai also has many not so wealthy people, those who can not afford to buy original Gucci, Lagerfeld or Cartier at Plaza 66, at prices where one coat easily exceeds the yearly income. The international malls are simply too expensive for the average Shanghaiese.Handsome said:还有很多mall啊，人气很旺的
of course not29A said:Are they owned by the government?. I heard that many of these facilities are owned and managed by the government, including some restaurants(i saw one that was, on TV).