The management of some local malls are advising the SAR government to launch supportive measures to help shopping complexes in Macau speed up their revitalization projects and thrive once again.
The Capitol Theatre, a retail and theatric complex renovated and repurposed from a historical theatre established in the 1930s on Rua de Pedro Nolasco da Silva, is one of the archetypes of mall revitalization.
After a one-year effort of refurbishment and modernization, the mall reopened its doors to customers in 2020. However, the tenants have reported a low customer visitation rate to the mall, which some vendors have ascribed to the impact of Covid-19.
Kuan Vai Lam, the chairman of the board of the company which owns most of the shares of Capitol Theatre, told TDM earlier that the mall’s occupancy rate currently stands at 80%, with 30% of occupants not operating on a regular basis.
To attract more customers, the mall is set to engage in novel partnerships with cultural and creative communities. Yet, Kuan is pinning hope on new measures introduced by the government to facilitate the redevelopment undertakings of local malls.
Meanwhile, the Centro Comercial Camoes on Av. do Alm. Lacerda is an abandoned building-turned-shopping center which reopened last year.
Kot Man Kam, the chairman of the shopping center, told TDM that it is difficult for the mall to feature cultural and entertainment elements due to its limited communal space. He also urges the government to launch some sort of stimulus and low-interest loan schemes to aid the process of mall revitalization.
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