What Are the Most Expensive Malls in the World?
Is the mall dying? The answer is yes or no depending on who you ask. The truth is that the American mall was slowly dying long before the coronavirus pandemic arrived. According to a 2017 Credit Suisse study, over 25% of American malls will close by 2022. While it is undeniable that the mall is dying, it is premature to say that the mall concept will die out. Perhaps the traditional mall concept may die out, but the mall as we know it is bound to evolve. The most expensive malls to date have been constructed in recent years and decades.
While the coronavirus pandemic and social distancing mandates may have you going a little stir-crazy, it’s important to remember that such measures won’t last forever.
Most Expensive Malls
You may not be economically, or health-safety inclined to visit the most expensive malls yet. But one day this world will open up and you will want to go places.
When that day happens, here is a list of the most expensive malls you can visit.
K11 Musea in Hong Kong
The K11 Musea is a provocatively stunning luxury mall in Hong Kong that opened in August 2019. K11 Musea took a decade to develop and build and cost about $2.6 billion to realize.
This luxury mall is located on the Victoria Dockside of Victoria Harbor on the island of Kowloon.
K11 Musea makes the list of most expensive malls due to the sheer amount of unapologetic materialist ambition on display. If you can afford to indulge in such, then it isn’t a moral judgment.
Just window shopping at K11 Musea would be a royalty-vicarious experience.
K11 Musea boasts over 250 retailers located within. They include:
- Sergio Rossi
- Moda Operandi
- Fortnum and Mason
- Golden Goose
- Alexander McQueen
L’École School of Jewelry Arts, a French-based academic institution that aspires to share the techniques for creating fine jewels, has a school extension located in K11. And it is sponsored by the luxury jewel company Van Cleef & Arpels.
You will also find that K11 Musea houses over 70 fine dining luxury restaurants like Yung’s Bistro, Ginza, YumMee, and Tominokoji Yamagishi, which is famous for its jumbo sea urchin rolls.
There is even a coffee bar shaped like a golden cube called “Kube,” located at K11 Musea.
K11 Musea also features over 40 progressive and Avant Garde art installations. Installed on the roof of this luxury mall is a 30-foot tall slide that was constructed to resemble a peacock.
The ground-level area of K11 Musea features wood-paneled and parquet flooring and a variety of glittering, chrome-like, metallic orb art installations throughout.
The developers of K11 Musea are hoping to redefine the idea of the mall as a luxury-going experience in the 21st century.
Grand Canal Shoppes, Las Vegas, Nevada
The Grand Canal Shoppes, a luxury mall located at the Venetian Resort in Las Vegas, Nevada is hard to miss.
About 500-hundred thousand square feet of the resort is surrounded by Venice-inspired canals. You don’t need to go to Italy to experience a gondolier ride. That’s right, you can enjoy a gondolier ride at the Grand Canal Shoppes.
The Grand Canal Shoppes opened along with the resort in 1999. The Las Vegas Sands resort bought the complex in 2004 for almost $770 million.
Many sections around the mall feature Venice-inspired cobblestone streets, so be wary if you are in high heels.
Grand Canal Shoppes is home to over 160 brand name retailers and restaurants. They include:
- Banana Republic
- Louis Vuitton
- Stewart Weitzman
- Sugar Boo & Co.
- Tory Burch
The Grand Canal Shoppes mall is over a quarter of a mile long. The ceiling of the mall is outfitted with LED-monitors that can create the illusion of a grand, blue sky overhead.
Visiting this mall can be a wondrous experience and it deserves its place on the list of most expensive malls.
The Mall of America, Bloomington, Minnesota
The Mall of America cost $650 million to build but generates over $2 billion in revenue annually.
There are 1.15 miles worth of walking area at the Mall of America. And there is a lot for you to do while walking around.
Over 40 million people visit the Mall of America every year. That is because there is so much to do. If you plan to visit here, you may want to make it a 3-day visit.
The Mall of America has a theme park with 27 rides.
There is a wedding chapel here too. Since its opening, there have been almost 9,000 wedding ceremonies performed at the Mall of America.
The Mall of America also has an aquarium and two flight simulators.
And if you are interested in shopping you may not be able to take the complete Mall of America experience if you live several lifetimes.
There are over 520 retailers and restaurants located at the Mall of America. They include:
- Abercrombie & Fitch
- Alex and Ani Jewelers
- Ben Bridge Jeweler
- Cadillac Ranch
- Canada Goose
- White Barn Candle
Local Bloomington officials recently announced that one of the largest waterparks will soon be constructed in the Mall of America in the near future.
Most Expensive Malls
One day soon you may find yourself wanting to take a trip. While visiting some of the most expensive malls overseas may not be feasible, there is no reason you shouldn’t want to visit a luxury mall near you.
Even if it is only to just window shop.
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.