It’s no coincidence that Mexico City hosts most of the country’s largest shopping centers. The city’s history with malls began over 50 years ago when the country’s modernization reshaped its urban landscape. Plaza Universidad, Mexico’s first shopping mall, opened in 1969, marking a new way of shopping away from the hustle and bustle of downtown. Plaza Satélite opened in 1971 shortly after, catering to the growing middle-class suburbs. These projects sought to decentralize commercial activities and offer a new urban experience: modern, accessible spaces designed for leisure.

Today, three out of four malls larger than 100,000 square meters are in Mexico City. Nine of the country’s 12 “mega malls” are located in the capital, including giants like Parque Las Antenas, Mundo E, and Mítikah, each with areas ranging from 120,000 to 150,000 square meters. Other notable malls include Parque Tepeyac, Paseo Interlomas, Parque Delta, and Parque Tezontle, each spanning between 100,000 and 120,000 square meters.

Beyond Mexico City, other malls also stand out. Galerías Monterrey in Nuevo León spans over 110,000 square meters, while Guadalajara’s Distrito La Perla and Andares offer luxury, entertainment, and retail spaces of up to 130,000 square meters. While less numerous, these complexes are vital to their regions, serving as urban landmarks and gathering places.

Did you know that a third of these massive malls were built before the year 2000, between the 1970s and 1990s? These pioneers marked the beginning of modern retail in Mexico. Another third emerged between 2005 and 2011, solidifying the model, while the remaining were delivered over the last five or six years, reflecting a shift towards more integrated and sophisticated formats.

Despite their impact, mega malls are not the norm in the country. According to SiiLA Market Analytics, the average shopping center in Mexico spans about 40,000 square meters, making them medium to large-sized properties. This diversity stems from the variety of formats in the market. Community centers, which account for 38% of the market, are compact and functional, with spaces between 17,000 and 18,000 square meters. Regional malls comprise 21% of the inventory and exceed 60,000 square meters. Finally, with a more exclusive focus, lifestyle centers represent 18% of the market and average around 40,000 square meters.

Smaller than the mega malls, these formats dominate Mexico’s commercial landscape. This reflects strategic diversification: while some properties focus on size and the ability to host multiple businesses, others stand out by redefining the consumer experience with unique concepts.

To learn more about retail trends in Mexico, visit SiiLA REsource or contact us at contacto@siila.com.mx.