CBRE had just published a report on the state of global shopping center development and it seems that in spite of a continued slowdown in building in the U.S., foreign developers are pressing ahead with plans for new malls and shopping centers, especially in emerging markets. Chinese cities, including Chengdu, Tianjin, Shenyang and Beijing, took the four top spots on a list of the 24 most active cities for shopping center development. Other global cities that made the list include Instabul, Bangkok and St. Petersburg.
No U.S. cities made the list.
Overall, there are approximately 32 million sq. mt., or 344 million sq. ft., of shopping center space currently under construction around the world.
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