The Calgary Herald reports on the first retailers moving in at New Horizon Mall.
Starting this week, small retailers have begun to populate this international-themed shopping centre.
The Calgary area’s newest mall is being billed as one unlike any other in Western Canada, and its 500 retailers are banking on its unique style to help them thrive once their doors open this summer.
Located just north of the city across the road from CrossIron Mills, the New Horizon Mall cost $200 million to build and was developed by the Torgan Group and MPI Property Group. The 30,000-square-metre, international-themed shopping centre is the first mall in Alberta where each retail space is purchased, not rented. It’s similar to a condo building for retailers, with individual stores either owner-operated or leased by owners to other retailers.
“The business model of this mall is like an Asian-styled mall, really, something that you would see in the east part of the world, the old shuks or the bazaars, but much more, of course, modern and up-to-date,” said Moe Kharfan, an investor who purchased four units.
“You can come to this mall and purchase things from all over the world. This was the attraction for me because it’s different from anything in the region.”
Units range in size from about 13 to 40 square metres, with those on the higher end costing owners $750,000. Each unit is surrounded by glass walls throughout the largely white-coated shopping centre.
Read more about New Horizon Mall online at calgaryherald.com
Those interested in learning more about New Horizon Mall can do so by visiting newhorizonmall.com/
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