Brand Fit Snapshot
Best for:
Not ideal if:
Similar properties you might like:
Quick assessment - takes 30 seconds
City Mall David is a mid-sized retail center located in David, Chiriqui Province, Panama, serving as a key shopping destination in the countrys second-largest city with a population of approximately 150,000 residents.
The mall spans about 25,000 square meters of gross leasable area and features over 80 stores, focusing on everyday essentials and value-oriented retail. Its tenant mix is dominated by anchor tenants such as a large supermarket, pharmacy chains, and basic apparel outlets, comprising roughly 40% groceries and essentials, 30% fashion and accessories, and 20% services like banking and electronics repair, with limited high-end or luxury options.
Positioned in a market where retail contributes significantly to local GDP through agriculture-related commerce and cross-border trade with Costa Rica, the property benefits from steady demand driven by middle-income households.
Leasing advantages include competitive base rents averaging $14-18 per square meter monthly, flexible lease terms up to five years, and high occupancy at 95%, indicating strong tenant retention.
Accessibility is favorable via major highways connecting to Panama City and the border, though public transport options are moderate. The surrounding area has a demographic profile of families with median household incomes of $800-1,200 USD, supporting consistent footfall estimated at 5,000-7,000 daily visitors on weekdays, peaking during weekends and holidays.
Operational quality is solid with modern facilities including ample parking for 800 vehicles and air-conditioned common areas, but challenges include aging infrastructure in some sections requiring maintenance and competition from newer premium malls diluting specialty retail traffic. Market factors like economic growth in Chiriqui at 4-5% annually bolster performance, yet saturation in basic categories poses risks for new entrants seeking differentiation.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
Hours of Operation
Hours
| Monday | 08:30 AM — 10:30 PM |
| Tuesday | 08:30 AM — 10:30 PM |
| Wednesday | 08:30 AM — 10:30 PM |
| Thursday | 08:30 AM — 10:30 PM |
| Friday | 08:30 AM — 10:30 PM |
| Saturday | 08:30 AM — 10:30 PM |
| Sunday | 09:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
David, Chiriqui, has a population of around 150,000, with a median age of 32 and household incomes averaging $800-1,200 USD monthly, primarily from agriculture, trade, and services. This middle-income demographic drives demand for affordable retail, with 60% of residents being working-age adults focused on family essentials. Footfall at City Mall David averages 6,000 daily visitors, increasing to 10,000 on weekends, supported by its role as a regional hub near the Costa Rica border, though seasonal fluctuations occur due to tourism dips.
Occupancy and Rent Levels
The mall maintains a high occupancy rate of 95%, reflecting stable demand in a market with limited new developments. Base rents range from $14 to $18 per square meter per month, below premium centers at $20-25, offering cost-effective entry for value retailers. Lease structures include percentage rents on sales over thresholds, averaging 7-10% of gross, which aligns with local sales performance of $400-600 per square meter annually, providing balanced risk for tenants amid economic variability.
Competition and Risks
City Mall David faces competition from five nearby centers, including Plaza Chiriqui (premium focus) and Multiplaza David (mixed-use), which capture 40% of the areas specialty retail traffic. Risks include market saturation in groceries and basics, potentially leading to 5-10% vacancy spikes during economic slowdowns, and access issues from occasional highway congestion. Aging infrastructure, with some areas over 15 years old, may require $500,000 in upgrades, impacting operational costs, while weak performance in non-essential categories highlights the need for diversified tenant strategies.
Building Details
Detailed Market Analytics
City Snapshot
David
Comprehensive market intelligence for retail expansion in this city
Other Retail Destinations in David
Discover more shopping centers in David.
Popular in Panama
Top retail destinations across Panama.
Interested in this property?
Choose how you'd like to proceed
Advertise at this property?
Reach high-intent shoppers across digital screens, atria, and experiential placements.
City Snapshot
David
Comprehensive market intelligence for retail expansion in this city
