Palm Beach Plaza construction
As announced, I’m going to dedicate the coming series of posts on the ongoing development in the West part of Aruba, which is heavily trafficked by tourist, staying at the high rise resorts. The last time I reported about the construction of shopping center Palm Beach Plaza was over four months ago. It’s time for another update. Off the bat, I can tell you that the construction efforts are steadily moving ahead and the finish line is in sight, to use a sports metaphor.
Palm Beach Plaza development is a shopping center located east to the other newly opened shopping center Paseo Herencia. It’s located on a very busy intersection on the main road Oranjestad-Marriott, turning to the boardwalk of Palm Beach. It’s an interesting location for a shopping mall for sure. I think the make or break factor for this development will be the pricing per square foot for the retailer. According to data I manage, starting price on the ground floor starts at $40 per square meter (about $3.70 per square foot). Above floors are cheaper.
With that price point Palm Beach Plaza positions itself in the middle regions in comparison to its competitors such as South Beach Center, Paseo Herencia and The Village. In terms of entertainment and culture Paseo Herencia is light years ahead on the competition. It’s going to be very hard to reach the level Paseo Herencia has throughout the last year, making it hard for the rest to follow suit. Palm Beach Plaza needs its own unique focal point, as difficult as that sounds, to be able to succeed the brutal competition among the shopping center rivals in the area.
Tower on the corner