Considering Lifestyle Centers in Iran as an investment opportunity for a more lucrative and luxurious alternative to boost revenue and profit
Looking for Investment Ideas in Iran, many investors eventually decide on investment in land and property, since it
has the most comprehensive laws and regulations that would prevent fraud and loss of initial capital. Although risks due exist and wise consultation is always needed, property investment in Iran requires an official deed, which is not easily transferable or cheated by fraudulent activities. However, in recent years the property market in Iran is facing a recession, therefore many are searching for a more lucrative and luxurious alternatives to boost revenue and profit. At Project Managers Organization, we advocate start of Lifestyle Centers in Iran to our investment clients.
Lifestyle Centers in Iran
Lifestyle Centers in Iran are not so popular, although they were developed as early as 1980 in Memphis, United States. A lifestyle center is a shopping center or mixed-used commercial development that combines the traditional retail functions of a shopping mall with leisure amenities oriented towards upscale consumers. Some times called boutique malls, they are often located in the suburbs were land is cheap and leisure amenities are not as readily available as in the city downtown.
The increased number of lifestyle centers has occurred since the number of traditional shopping malls are not considered to be attractive to shoppers anymore and they require a more pleasant environment to spend their time and money. The proliferation of lifestyle centers in the United States accelerated in the 2000s, with number going from 30 in 2002 to 120 at the end of 2004. Lifestyle centers are sometimes depicted as occupying the upscale end of the spectrum of commercial development, at the opposite end of the outlet mall, which typically caters to a wider range of income with bargain prices. Lifestyle centers usually require less land and generate higher revenue margins, often generating close to 500 dollars per square foot, compared to an average of 330 dollars per square foot for a traditional mall, according to a study.
Benchmarking Hudson Yards for Tehran
One of the most recent and largest of the new mall breed is the Hudson Yards Project in United States valued over $20 billion USD. Due for its grand opening in 2018, it will feature a seven-story shopping center, 4000 residences, restaurants, office towers, a public school and 14 acres of open public space.
For a Lifestyle Centers in Iran to be successful a comprehensive Facility Management Plan is needed to improve the operation and maintenance of the facility as well as keeping the Center a popular destination to shoppers and end users to boost sale and profitability.
Don’t hesitate to contact us for further consultation in regards to Lifestyle Centers in Iran or any other investment ideas in Iran.