Local News

Brakes Applied to Kyushu Shopping Center Expansion
Regional shopping center developers Aeon and the Izumi Group have begun applying the brakes to the opening of new commercial facilities. Several reasons for their caution were cited. One is that the economic downturn has caused companies to refrain from selling commercial facilities to real estate funds to recover the financial resources for future expansion. Other factors include the difficulty in recruiting specialty stores to become tenants and the rise in materials prices. This trend has put a damper on hopes that shopping center expansion would be a fillip for local employment.