Development will focus on repositioning existing assets in Canada's retail sector this year, while mounting economic pressures will see consumer spending habits change as retailers leverage the value of their physical stores, according to CBRE's 2023 Retail Outlook.

The latest wave of retail development in Canada aims—as it is in the United States—to transform malls into communities that cater to all facets of live-work-play.

Major projects have been announced that will add density to existing properties through residential towers, as well as infill projects to unlock value in underutilized parking or surrounding surface lots.

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