When a facility no longer attracts premium tenants or echoes the new urban fabric, it’s time to be proactive about the design and a new look. The value of a shopping mall comprises the “value of the lot” and “the value of the property”; the former is subject to the mall’s location, while the latter depends on the entire project’s maintenance, facility, and offerings amongst others, that’s the reason Why it needs to remain competitive in the commercial property market and respond to market needs by repositioning. Those Who own or manage the property assets, like landlords or project managers must be committed to seeing their current property assets in a new light. They need to understand the stage of the shopping centre in the product life cycle and ensure that refurbishment is undertaken when it is due before the loss of competitiveness and financial returns occur.

With regard to shopping malls, the terms renovation, refurbishment, repositioning and revitalization are often used indiscriminately to characterize different forms of improvement of existing properties. There are different scales of renovation & refurbishment (from XL to S), for instance, XL- “A completed rebuild & redevelopment based on the site parameters”. L- “an extensive demolition / extension / alteration: create additions”. M- “limited impact on existing Asset: enhance spatial quality” and S- “minimal strategic intervention: rejuvenating dysfunctional spaces”. Where to focus on refurbishment is determined by the property itself.