The strong demand that Mexico’s growing middle class is having for urban-located shopping centers that offer a full social experience, along with the under penetration of online shopping are some of the reasons why malls are thriving in the country.
(WSJ) On a recent weekday afternoon in Iztapalapa, a hardscrabble neighborhood on the eastern outskirts of the Mexican capital, two sets of construction crews entered the final stages of work on a project that captures the current state of retail real estate here.
One crew hung doors, welded braces and finished floors for Parque Antenas, a brand new 1.1-million square foot shopping mall. Up above, workers hauled carnival rides and carousel parts for a rooftop amusement park the company said would be the world’s first…
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