“Amid tightening supply of traditional shopping malls and stronger cultural and tourism demand, innovative retail formats and cultural tourism venues are set to drive experience-led growth this year.” —— Sophy Pan, RESEARCH



Vacancy Eases, Demand Holds Steady

•Chengdu’s total retail sales of consumer goods reached RMB178.51 billion from January to February 2026, up 2.0% YoY.

•No new shopping malls were launched in Q1/2026, leaving total retail stock unchanged at approximately 7.95 million sqm.

•Beyond traditional retail, projects such as Eastern Suburb Memory OR’mix (东郊记忆OR’mix) and the first phase of Luxelakes A7 (麓湖水镇A7) opened, while in99 ing Alley Block (银泰中心in99 ing巷街区) reopened following upgrades.

•Leasing conditions remained stable, with shopping mall vacancy rates declining to an average of 9.3%.

•Lifestyle retail collections targeting younger consumers continued to expand during the quarter.

•Leisure, entertainment and child-related uses supported absorption, driven by their strong social and health-oriented appeal.