- 20th November, 2024
- By Alyson Wavish
10 Leading Retail Precincts Leading the Way in ESG, Occupancy and Traffic
01: WESTFIELD LONDON (UK)
SUMMARY:
Westfield London is one of Europe’s largest and most successful retail centres, blending luxury, mainstream fashion, and entertainment to create a high-demand shopping destination. It stands out for its commitment to sustainability, balancing modern retail needs with ambitious environmental goals.
ESG ACHIEVEMENTS:
| Energy-efficient lighting and HVAC systems | Significantly reduces energy consumption across the complex. |
| Waste management | Maintains a recycling rate above 90%, supported by tenant engagement programs. Better Places targets 70% recycling by 2030 across its portfolio, with 44% achieved last year. |
| Green spaces | Features rooftop gardens and outdoor terraces, enhancing biodiversity and providing urban green areas. |
| Sustainable transport | Encourages sustainable commuting by providing numerous EV charging points and being well-connected to public transport. |
OCCUPANCY AND TRAFFIC:
Occupancy: Consistently maintains a high occupancy rate of over 95%, with strong demand from luxury and highstreet brands.
Traffic: Welcomes more than 30 million visitors annually, driven by its diverse tenant mix and appealing leisure activities.
02: THE DUBAI MALL (UAE)
SUMMARY:
As the world’s largest shopping destination by total area, The Dubai Mall sets the standard for retail excellence in the Middle East. Its iconic attractions and luxury stores attract millions, and recent efforts have focused on integrating sustainability into its vast operations.
ESG ACHIEVEMENTS:
| Smart energy management systems | Optimises energy use, particularly in cooling, to cut energy consumption significantly. |
| Water-saving technologies | Low-flow fixtures and water management systems help reduce consumption by 15-20%. |
| Waste management | Comprehensive recycling initiatives are in place to manage the large volume of daily waste. |
| Green construction practices | Sustainable methods are used for ongoing developments and renovations. |
OCCUPANCY AND TRAFFIC:
Occupancy: Near 100% occupancy with long waitlists for tenant spaces, especially among luxury brands.
Traffic: Attracts more than 80 million visitors annually, making it one of the most visited retail destinations worldwide. In fact, last year Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19% on the previous year’s 88 million.
03: CHADSTONE SHOPPING CENTRE (MELBOURNE, AUSTRALIA)
SUMMARY:
Known as the “Fashion Capital” of Australia, Chadstone integrates world-class retail, dining, and lifestyle offerings. It pairs its luxury status with a strong commitment to sustainable practices.
ESG ACHIEVEMENTS:
| 5-star Green Star rating | Certified by the Green Building Council of Australia for its sustainable design. |
| Solar power generation | Uses on-site solar panels to contribute to its energy needs. |
| LED lighting and HVAC systems | Efficient systems that lower energy consumption and carbon emissions. |
| Rainwater harvesting | Utilises harvested rainwater for landscape irrigation. |
OCCUPANCY AND TRAFFIC:
Occupancy: Exceeds 98%, driven by a mix of high-street fashion, luxury brands, and leisure offerings.
Traffic: Attracts around 24 million visitors each year, supported by its reputation as a premier retail destination.
04: EMPORIA (MALMĂ–, SWEDEN)
SUMMARY:
Emporia is a benchmark for sustainable retail architecture in Scandinavia, blending innovative green building techniques with a curated retail experience. It is recognised for its forward-thinking design and commitment to the environment.
ESG ACHIEVEMENTS:
| Green roof | Covers a large area with plants, which supports biodiversity and reduces urban heat effects. |
| Solar panels and heat recovery systems | These contribute to the building’s energy efficiency. |
| Recycling programs | Achieves high waste diversion rates through comprehensive recycling initiatives. |
| Public transport and cycling accessibility | Provides extensive bike parking and is connected to public transportation. |
OCCUPANCY AND TRAFFIC:
Occupancy: Maintains a strong 95% occupancy rate.
Traffic: Draws approximately 9 million visitors annually, appealing to shoppers who value sustainability and unique retail experiences.
05: MALL OF TRIPLA (HELSINKI, FINLAND)
SUMMARY:
Mall of Tripla is a modern retail and lifestyle complex located in the heart of Helsinki. It’s an example of urban development that harmonises commercial success with high sustainability standards.
ESG ACHIEVEMENTS:
| LEED Platinum certification | For its sustainable construction and operations. |
| Geothermal heating and cooling | Uses renewable energy to regulate the mall’s temperature. |
| Green roofs | Contribute to stormwater management and insulation. |
| Circular waste management | Extensive recycling programs and efforts to promote a circular economy. |
OCCUPANCY AND TRAFFIC:
Occupancy: Maintains a 95% occupancy rate, driven by its strategic location and varied tenant mix.
Traffic: Attracts around 25 million visitors annually, with a blend of retail, dining, and cultural experiences.
06: COAL DROPS YARD (LONDON, UK)
SUMMARY:
Coal Drops Yard is a revitalised historical area that has become one of London’s most unique retail precincts. It combines sustainable redevelopment with a curated selection of independent and luxury brands.
ESG ACHIEVEMENTS:
| Heritage preservation | Preserved and repurposed historical structures to minimise the environmental impact of new construction. |
| Sustainable materials | Used eco-friendly building materials for renovations |
| Community-focused initiatives | Supports local artisans and sustainable brands through various popup and market events. |
OCCUPANCY AND TRAFFIC:
Occupancy: Maintains a high occupancy of around 90%, despite being a niche retail destination.
Traffic: Experiences consistent traffic due to its unique blend of boutiques, dining, and cultural events.
07: AMERICAN DREAM (NEW JERSEY, USA)
SUMMARY:
American Dream is a mega shopping and entertainment complex that has recently undergone redevelopment to include sustainability in its operations. It combines retail with attractions, making it a unique experience-driven destination.
ESG ACHIEVEMENTS:
| On-site solar power | Contributes to energy needs, decreasing the reliance on nonrenewable sources. |
| Waste reduction | Implements recycling and composting initiatives. |
| Community engagement | Participates in local charitable activities and educational programs. |
OCCUPANCY AND TRAFFIC:
Occupancy: Holds an occupancy rate of over 90%.
Traffic: Draws approximately 40 million visitors annually, thanks to its diverse combination of retail, dining, and entertainment options, including an indoor ski slope.
08: NACKA FORUM (STOCKHOLM, SWEDEN)
SUMMARY:
Recently redeveloped in 2024, Nacka Forum is one of Stockholm's top retail destinations, focusing on sustainability and customer experience.
ESG ACHIEVEMENTS:
| Energy-efficient upgrades | Incorporates the latest technologies to reduce energy use. |
| Recycling programs | Promotes sustainable practices among tenants and visitors. |
| Support for sustainable brands | Houses eco-friendly retailers. |
| Green spaces | Adds outdoor areas to improve environmental quality. |
OCCUPANCY AND TRAFFIC:
Occupancy: Consistently above 95%.
Traffic: Welcomes around 10 million annual visitors, appealing to those seeking a sustainable shopping experience.
09: ICONSIAM (BANGKOK, THAILAND)
SUMMARY:
ICONSIAM is a luxury retail and lifestyle destination along Bangkok's Chao Phraya River. The mall has set new standards for sustainable development in Southeast Asia.
ESG ACHIEVEMENTS:
| LEED certification | For sustainable building design, water management, and energy optimisation. |
| Water-saving technologies | Implements sustainable practices to reduce water usage. |
| Landscaped green spaces | Includes gardens and terraces for a natural environment. |
| Smart energy management | Utilises technology to monitor and optimise energy consumption. |
OCCUPANCY AND TRAFFIC:
Occupancy: Maintains an occupancy rate of about 95%.
Traffic: Attracts over 50 million visitors annually, driven by a combination of luxury retail, cultural experiences, and entertainment.
10: GALLERIA VITTORIO EMANUELE II (MILAN, ITALY)
SUMMARY:
As one of the world’s oldest and most famous shopping malls, Galleria Vittorio Emanuele II in Milan combines luxury retail with historical charm. Its ongoing commitment to preservation and sustainability ensures that it remains a significant cultural and commercial landmark.
ESG ACHIEVEMENTS:
| Energy-efficient lighting | Recent upgrades to LED lighting throughout the Galleria have reduced energy consumption while preserving the historical ambiance. |
| Heritage preservation | Meticulous restoration efforts ensure that the building’s architectural integrity is maintained, using sustainable materials where possible to reduce environmental impact. |
| Waste reduction | A recycling program has been implemented, particularly in the food and beverage outlets, aiming to minimise waste and promote a circular economy. |
| Cultural and social sustainability | Hosts various cultural events, exhibitions, and community programs, promoting local heritage and supporting Milanese artisans. |
OCCUPANCY AND TRAFFIC:
Occupancy: Maintains a near 100% occupancy rate, with luxury brands and upscale dining establishments vying for prime space within this iconic mall.
Traffic: Attracts over 20 million visitors each year, drawn by its mix of high-end retail, fine dining, and historical significance, making it one of Milan's top tourist attractions.
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