Hanam Union Square
The largest retail centre in South Korea at 152,000 square metres of leasable area
All of Reurbanist’s team members participated in assisting Taubman Centres and SHINSEGAE with conducting their due diligence for Hanam Union Square in 2012/2013.
Team members contributed their knowledge to developing the project’s site SWOT analysis, demographic and psychographic GIS mapping analysis, concept & development strategy, and a unique retail demand model that was one of the first of its kind to be used in South Korea.
The demand analysis was adapted from Huff’s Retail Gravity Model that uses straight line distances, sizes of supply points (retail competitors), and the demographics of demand points (population clusters/neighborhoods) to estimate the sales potential of a planned retail centre.