The 17 best-selling malls worldwide
The 17 best-selling malls worldwide

by Forbes Staff

  • The most successful shopping center in the world, the one that sells the most, is in Miami. This is Bal Harbour Shops, followed by the main shops centers in Las Vegas, London and New York. Get to know them.

A successful shopping mall is not measured by its size, nor by its luxury, nor by how cosmopolitan the city in which it is located. Its success is measured in the money it sells per square meter.

With this metric, the largest shopping center in the world is not in New York, London, Paris, Tokyo or Hong Kong, but in Miami. This is Bal Harbour Shops, named the World’s Most Productive Mall by theShopping Centers Today publication of the International Council of Shopping Centers (ICSC).

This luxurious open-air mall sells $2,555 per square foot, nearly seven times more than the industry average, which is $451 per square foot.

Bal Harbour Shops outsold renowned shopping centres around the world, such as Westfield London and Westfield Stratford in the UK; Westfield, Australia; the Mall, of the Emirates in Dubai, and the Moana Wing Center, in Honolulu.

Since it opened its doors in 1965, sales in Bal Harbour have increased every year with only two exceptions: in 2001, following the September 11 attacks, and in 2009, after the global economic crisis.

“We continue to be the number one luxury shopping destination, not only within the country, but around the world,” says the mall’s operating partner, Matthew Whitman Lazenby, a third-generation member of the family, who is part of the business.

Bal Harbour Shops is home to more than 100 luxury retailers, including Brunello Cucinelli, Chanel, Dolce & Gabbana, Gucci, Lanvin, Neiman Marcus, Prada, Roger Vivier, Saks Fifth Avenue and Valentino. Its headquarters, at 9700 Collins Avenue in Bal Harbour, is across the ocean and the new St. Regis Bal Harbour Resort.

Bal Harbour Shops, located on the northern tip of Miami Beach, is a great attraction for tourists, both from inside and outside the United States, mainly from Latin America and Russia, who are fascinated by the charm of South Beach. The town of Bal Harbour is one of the most prosperous in the region.

“It’s the setting, the shops, the history and the attachment customers feel to the place that make Bal Harbour Shops the premier luxury retail mall in the world,” Whitman said.

There are 16 other very successful shopping centers in sales that accompany Bal Harbour Shops in the world top in the ranking it makes Shopping Centers Today, which bases its list on information obtained from real estate consultants Green Street Advisors, KPMG, Thomas Consulting/Shopping Centre News, as well as REITs (Real Estate Investment Trusts, investment companies that own real estate assets, whose income comes mainly from their rentals) and the owners of shopping centers.

The most successful shopping destinations have characteristics in common: they are usually located in tourist areas, have high-quality retailers, affluent regional population groups and tend to renew themselves regularly, notes the article of Shopping Centers Today.

Here we present the 17 main shopping centers in the world, according to their sales per square foot:

  1. Bal Harbour Shops, Bal Harbour, $2,555 per square foot
  2. Forum Shops in Caesars, Las Vegas, $1,750 per square foot
  3. Westfield Stratford, London, $1,600 per square foot
  4. Westfield London, London, $1,600 per square foot
  5. Shops in Columbus Circle, New York, $1,600 per square foot
  6. Westfield Sydney, Sydney, Australia, $1,500 per square foot
  7. Mall of the Emirates Dubai, UAE, $1,423 per square foot
  8. The Grove, Los Angeles, $1,400 per square foot
  9. Pacific Centre, Vancouver, BC, $1,255 per square foot
  10. The Mall in Millenia, Orlando, $1,250 per square foot
  11. Ala Moana Center, Honolulu, $1,200 per square foot
  12. Yorkdale, Toronto, $1,194 per square foot
  13. Chadstone, Melbourne, Australia $1,157 per square foot
  14. The Mall in Short Hills, Short Hills, NJ, $1,110 per square foot
  15. Americana at Brand Glendale, California, $1,100 per square foot
  16. Brent Cross, London, $1,100 per square foot
  17. Aventura Mall, Aventura, Florida, $1,100 per square foot

https://www.forbes.com.mx/los-17-centros-comerciales-que-mas-venden-en-todo-el-mundo/