While China recently announced 45 new airports due to booming travel growth, several of their development projects have been enormous duds. The New South China Mall is twice the size of Minnesota's Mall of America, but hovers at around a 1% occupancy. The rows of empty shops are piped with serene elevator music, and guards police the empty halls with echoing footsteps.
Announced in 2005, the mall is located in Dongguan in the Guangdong province of southern China. The location is between Guangzhou and Shenzen in an area that may one day be considered the world's largest mega city, estimated to have a population near 50 million. Today, the mall has yet to live up to any distinction associated with mega cities, and is a sobering example of what happens when idea implementation precedes growth. Separated into seven districts modeled after international cities, the mall boasts an Arc de Triomphe, Venice canals, and even a mini Egypt. Of the 2,350 leasable store spaces, around 50 are actually in use. Check out this award-winning video directed by Sam Green and Carrie Lozano for PBS that showcases this bizarre mall.
Good or Bad Investment on their behalf? I mean 5-10 years down the road. This is major as it's bigger than the former heavy weight Mall of america. What do you think?
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