Unibail-Rodamco’s acquisition of Westfield is a testament to the viability of the mall, notes a Bloomberg commentary. It demonstrates that well-maintained, attractive shopping centers have a fundamental role in the future of retail as showrooms for merchandise and as places for people to meet, eat and be entertained.
“The logic appears sound,” the columnist writes. “As malls fight against the wave of online retail, their best chance of survival is big, well-kept centers that give consumers a reason to visit. That might be to pick up parcels at click-and-collect points, or to eat in a restaurant or catch a movie, as much as to shop.”
By Edmund Mander