Malls Evolving: New Uses and Investments Reshape Retail Landscape

Shopping malls are transforming into spaces for socialization and experience, incorporating new uses such as churches, bookstores, and sports parks. In Greece, major development projects in Rentis and Ellinikon signal a new era.

Changes in America: Traditional department stores are being replaced by diverse tenants, including churches and gyms, turning malls into social hubs.

Cross-shopping and Gen Z: Attracting different communities and age groups drives growth, with Gen Z embracing malls for the physical experience and social interaction.

Greek projects: Sklavenitis Group and TERNA are redeveloping the Pitsos factory in Rentis, while Lamda Development invests in The Ellinikon Mall and Riviera Galleria. Noval Property is upgrading River West and Mare West, and the Antetokounmpo family is transforming Village in Rentis into a sports & entertainment park.