London -- A report issued by C.B. Richard Ellis on Friday said that global shopping center development has reached unprecedented levels of construction and new openings, fueled by growing middle classes and retailer expansion.
According to the most recent research by CBRE, which measured shopping center development activity in 180 of the world’s major cities – including 2011 completions and space currently under construction – 318.6 million sq. ft. is currently under construction and about 84 million sq. ft. opened in 2011.