Only ten new shopping malls were opened in Shanghai in 2022.
But at least 23 new developments, like the one in Xintiandi, are expected to welcome customers in the new year.
A report from the global property consultancy firm JLL says Shanghai's retail market was hit hard because consumers were wary of venturing out during the COVID outbreak.
But JLL forecasts a strong rebound for retail leasing in 2023.
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