Core Viewpoint - The article discusses the challenges faced by popular shopping malls in Shanghai, particularly 恒基·旭辉天地 and 爱琴海购物公园, in maintaining customer traffic after their initial popularity, highlighting the need for strategic adjustments and differentiation in a competitive retail environment [1][6]. Group 1: 恒基·旭辉天地 - 恒基·旭辉天地 has seen a decline in customer traffic and high vacancy rates in its underground levels, with one-third of shops in the first underground level vacant [2]. - The management of 恒基·旭辉天地 is undergoing a strategic upgrade to enhance its brand mix, focusing on introducing outdoor sports, pet-related businesses, and unique dining options, achieving an overall leasing rate of over 90% [2][3]. - The mall aims to differentiate itself by creating immersive lifestyle experiences and hosting engaging events to attract diverse customer groups [3][7]. Group 2: 爱琴海购物公园 - 爱琴海购物公园's outdoor section, known as "新华红星广场," has a lower occupancy rate compared to its indoor section, with many shops on higher floors remaining vacant [4]. - The management of 爱琴海购物公园 has not provided detailed responses regarding its operational status, indicating potential challenges in addressing customer traffic issues [5]. - The competition from nearby shopping centers, such as 凯德晶萃广场 and 中海环宇荟, adds pressure on 爱琴海购物公园 to maintain its customer base [2]. Group 3: Retail Market Competition - The retail property market in Shanghai is highly competitive, with new shopping centers expected to open, adding over 883,000 square meters of supply by 2025, which may intensify market pressure on existing malls [6]. - The emergence of new attractions, such as the LV "路易号," is drawing significant customer interest, further challenging older shopping centers to retain their appeal [6]. - Industry experts emphasize the need for shopping malls to redefine their positioning and enhance their offerings to regain customer traffic in the face of increasing competition [7].

Core Viewpoint - The recent rumors about the high vacancy rate of the Hengji Xuhui Tiandi project in Shanghai's Xintiandi area are unfounded, as the project claims to have a leasing rate exceeding 90% [1][2]. Group 1: Project Overview - Hengji Xuhui Tiandi, designed by Pritzker Prize-winning architect Jean Nouvel, opened in April 2021 and quickly became a popular commercial destination known for its distinctive architectural style [1]. - The project features a total construction area of approximately 45,000 square meters and is recognized for its striking "Danxia Red" facade and green plant walls [1]. Group 2: Market Response and Brand Introduction - The project manager, Shao Feng, reported that the current leasing rate has surpassed 90% and highlighted the introduction of several new brands, including a pet-friendly restaurant, a high-end bicycle store, and various dining establishments [2]. - The project has undergone a transformation this year, focusing on attracting brands related to outdoor activities, pet services, and dining, in response to changing consumer trends [2]. Group 3: On-Site Observations - An on-site visit revealed that the exterior vertical greenery and the red-green design continue to attract attention, with several cafes and restaurants experiencing good foot traffic [3]. - Many storefronts displayed "grand opening" flower baskets, indicating new businesses preparing to launch, while some locations were marked with signs announcing upcoming brands [3].