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Chengdu | 2022 Q1 | Retail : Classic M mall, located in Guanghua, opened with 56,000 sq m of space

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RETAIL1

Chengdu | 2022 Q1 | Retail : Classic M mall, located in Guanghua, opened with 56,000 sq m of space

Dear Valued Client,

• In Q1, Classic M mall in Guanghua opened, with a GFA of 56,000 sq m (602,500 sq ft). Therefore, the total stock of high quality shopping malls reached nearly 8.8 mil sq m (94.7 mil sq ft). The city wide vacancy rate rose just 0.1pps QOQ to 9.2%, and the average ground floor rent was RMB370.1 (USD58.2) per sq m per month.
• New energy vehicle (NEV) brands are one of the new, active players in shopping malls, supported by the government's 2021 2035 plan for NEV industry development 1 . Several shopping malls are remodeling due to fierce competition and rapid submarket development.
• We recommend retail brands with plans to expand in Chengdu’s southwest should focus on new malls in 2022 2023, which offer a variety of choices.


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Chengdu | 2022 Q1 | Retail : Classic M mall, located in Guanghua, opened with 56,000 sq m of space

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