Ornate malls mushroom in Iran to attract elite
Developers have broken ground on 400 shopping malls across the country, 65 in Tehran alone
Tehran, Iran
THE low rumble of powerful engines reverberated against the high-rises of Zaferanieh, an upmarket neighbourhood, as Porsches and Mercedes lined up to enter the multistorey parking lot of a fancy new shopping mall, the Palladium, the latest addition to Tehran's shopping scene.
Iran may be facing a dangerous economic abyss, with an empty treasury, historically low oil prices and the continuing damage of Western economic sanctions, but one indicator is going through the roof: Developers have broken ground on a record 400 shopping malls across the country, 65 in Tehran alone.
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