The Asian arm of US mall operator Taubman Centers has won recognition for its achievements in the design and development creativity of the Starfield Hanam Shopping Center in South Korea, according to a media release.
Taubman Asia took home a gold award in the New Development Category at the 2018 ICSC Asia Pacific Shopping Center Awards in Kuala Lumpur for Starfield Hanam, Korea’s first shopping theme park to feature a “sportainment” approach to the retail experience.
“We are thrilled to receive this award. Designing an exceptional space a key aspect of our mission and enables us to provide the best experience for our shoppers, no matter if they are here to shop, to dine, or to relax,” said Nick Travaglini, vice president of Taubman Asia at the award ceremony. Last year, the specialist retail developer and operator also brought home a marketing prize for its CityOn mall in the northern Chinese city of Zhengzhou.
South Korean Project Recognised at Shopping Centre Event
Opened in September 2016, Starfield Hanam was jointly developed by Taubman Asia and Korean department store group Shinsegae. The 1.7 million square foot western-style shopping center, anchored by a Shinsegae department store, is home to approximately 300 stores, restaurants and a variety of sports and entertainments in the city of Hanam, just east of Seoul, about 30 minutes from the glitzy Gangnam District.
The retail venue brings together shopping, leisure activities and healing all in one space. Its collection of international luxury brands includes Balenciaga, Burberry, Bvlgari, Fendi, Gucci, Louis Vuitton, Miu Miu, while the fast fashion favourites are represented by Cos, H&M, Zara and Uniqlo to name a few.
Gourmet Street, on the ground level, has 17 restaurants and cafes as the Eatopia food court, with views of the Han River and Gumdan Mountain, offers more casual fare with 18 kiosks specializing in local artisan eats.
Following the trend towards experiential retail Starfield Hanam includes a high percentage of entertainment venues, led by an eleven-screen Magabox cinema, while a Sports Monster sportsplex provides activities from rock climbing to basketball and a 112,000 square foot Aquafield indoor/outdoor water park.
“Shopping centers need to provide more than just a venue for shopping,” Travaglini noted. “They need to evolve to become a space for communities to be entertained, socialized and connected.”
Taubman Asia Takes on More Korean Projects
From its Hong Kong regional base, the US retailer operator currently has three additional retail developments in Asia, aside from Starfield Hanam, under its management. These include the CityOn.Xi’an and CityOn.Zhengzhou malls in mainland China and the retail portion of entertainment and gaming resort, Studio City Macau.
The company announced in August that it has teamed up with Shinsegae Group again to build, lease and manage a 1.1 million square foot shopping mall in Anseong, South Korea.
In this latest Korean project, Taubman will leverage its retail planning, design, leasing and operational capabilities for the project while Shinsegae is responsible for acquiring and entitling the land for development and leading construction. Taubman’s total investment in the new project is expected to be between $140 million and $150 million, representing a 24.5 percent interest in the centre, according to Inside Retail. The mall is expected to open in late 2020.
The South Korean conglomerate Shinsegae Group is best known for the department store brand Shinsegae and E-mart discount stores. Its Shinsegae Centum City Department Store in the sea port city of Pusan still holds the Guinness World Records as the largest shopping complex in the world. The retail giant secured last week one trillion won ($887 million) investment from the Hong Kong-based Affinity Equity Partners and the US-based BlueRun Ventures to spin off its online business division of Shinsegae Department Store and E-mart, reported the Korean media.
The ICSC has over 70,000 members in more than 100 countries as the leading global trade association for the shopping center industry. The association reviewed thousands of projects across the Asia Pacific region for this year’s awards.