Colombia. A study by Mall & Retail points out that brands and developers analyze their openings better. It is expected that this year consumption will slow down and that is why the expansion plans are reviewed.
According to the local newspaper Portafolio, this year the country will have 23 new shopping centers in various areas of the country. These are projects that have been in development for several years.
That shows the good health of the industry. However, today others are the winds that blow and the economic situation has put builders and developers on thinking about projects that are structured in two or three years.
This is what a Mall & Retail analysis of the sector warns, noting that "everything suggests that in 2016 the growth of shopping centers will continue with a lower dynamism compared to previous years."
Leopoldo Vargas Brand, general manager of the firm specialized in the sector explained that "a project of a shopping center is structured from three to four years. There were some projects that were being planned to start construction in 2015 and 2016 and many have said that with the dynamics of the brands, it is better to wait."
According to their statistics, about ten companies have made decisions to postpone or freeze projects they had underway for that reason.
Vargas explains that the devaluation and lower consumption have forced the big brands to carefully review their expansion plans. Many, international, have had to increase the price of their imported products.
No company planned to work its offer with a dollar above 3,200 pesos, he says.
