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The Largest Gathering of Deal Makers in the World's Fastest Growing Retail Market

International Council of Shopping Centers (ICSC)
2011-08-30 19:04 1453

ICSC's RECon Asia 2011 scheduled to run November 2-4 in Shanghai

SHANGHAI and BEIJING, Aug. 30, 2011 /PRNewswire-Asia/ -- The International Council of Shopping Centers, Inc. (ICSC) today released details of ICSC RECon Asia 2011, the sixth annual regional edition of the Council's convention and exhibition, which this year will be held at Intex Shanghai.

The global association's Asia convention brings together the world's top executives in retail, retail real estate development, leasing, management and lending, as well as academic and government experts. Delegates from the region and from across the world gather annually at ICSC RECon Asia to discuss a wide spectrum of industry issues from the challenges of growing retail businesses in new markets to hedging currency risk.

The 2011 event will be hosted for the second time in China, signalling the global retail real estate community's growing interest in the Middle Kingdom. Despite its challenges, China remains for global players the one market that must be tamed, the one market that cannot be overlooked by any retail real estate player with global aspirations.

For some investors, fence-sitting has come at a cost. Opportunities in China's first-tier cities are already narrowing as these markets begin to mature. "More and more, if you talk about China these days, the focus tends to be on second- and third-tier cites," said ICSC Asia Pacific Director Tan Guan Heng.

"The question for this year's convention is, have those second and  third-tier cities learned from earlier mistakes? Three or four years ago, many foreign players charged into them – only to abandoned their plans in many cases because the markets weren't ready." One big problem was the lack of skilled labor, Tan recalls. "But maybe that's been solved – one way or the other, we'll get the answer to that and a lot of other questions at RECon Asia."

China's economy continues at a gallop, spreading wealth beyond China's coastal centers. According to China's National Bureau Statistics, second-quarter GDP rose 9.6% year-on-year in the first six months of 2011 over. Chinese consumption showed an even sharper increase: first half 2011 total retail sales of consumer goods were 8.58 trillion yuan (US$1.33 trillion), up 16.8% over the same period in 2010.

(http://www.stats.gov.cn/english/statisticaldata/monthlydata/t20110719_402740477.htm).

Other Asian Markets

India and Vietnam, sizeable investment destinations in their own right, are also expected to get a lot of attention at RECon Asia 2011. Tan said many investors still view them as the next big thing. "But early movers have been frustrated there too and the industry, as a whole, have taken a more cautious and measured approach to these two markets," he said. "So I expect many delegates will be coming looking for answers to questions like "how and when can we realize their potential?"

Japan will also be getting some of the attention with its US$1.5 trn consumer market, which is three times that of India. "Japan is coming back from its March 11 calamity with typical resilience," Tan said. "But what will be the outlook over the next 5 years? It bodes well for all of Asia to have a stable and prosperous Japan. However, Japan has to juggle a great number of issues - from a stable political administration to fiscal and monetary policies – in the immediate future."

RECon Asia 2011 will be mounting a comprehensive program. While the Conference features speakers and panels addressing key industry issues, the Exhibition will showcase new and upcoming retail real estate projects and the latest products and services.

With over 80% of the 6,000sqm exhibition space already sold, many of the region's top players have already committed to the event – among them: AEON Mall, Ayala Land, Inter IKEA Centre Group, Insite Asset Management Group, McDonald's, MK Illumination, SCP, Tuabman Asia, Taubman TCBL and Yanguang Co. Ltd.

Global Recognition of Asian Shopping Centers

The annual ICSC Asia Pacific Shopping Center Awards, now recognized as the region's benchmark standard for the retail industry's top marketing and development initiatives, will be presented at a reception on November 3, following the first day's conference programme. "The Asia Shopping Center Awards is a recognition program aimed at honoring the best of the best in Asia," said ICSC's Tan. "The quality of Asian entries has been going from strength to strength, as exemplified by AEON LakeTown." The Japanese mall won ICSC's global 'VIVA Best-of-the-Best' award for sustainable design in Las Vegas at RECON 2011 in May." This year the Asia Pacific Award program attracted 141 entries, 10% up on 2010. "Entries from Mainland China increased 25%," Tan said, "solid recognition of ICSC's work in promoting best practice in China's mall industry."

For more information on ICSC RECon Asia, please visit www.icsc.org/2011APC.

About the International Council of Shopping Centers (ICSC)

Founded in 1957, the International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry. Its 60,000 members in the U.S., Canada and more than 80 other countries include shopping center owners, developers, managers, marketing specialists, investors, lenders, retailers and other professionals as well as academics and public officials. As the global industry trade association, ICSC links with more than 25 national and regional shopping center councils throughout the world.

Media Contacts
 
Hong Kong:
Sandra Pang
Tel: +852-2540-6872
Mobile: +86-15921550440
Email: spang@icsc.org
 
Shanghai/Beijing
Merry Yin
Tel: +86-10-8451-2339
Mobile: +86-13581844086
Email: myin@icsc.org
Source: International Council of Shopping Centers (ICSC)
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