Retail 'is not dead, just changing'
19 March 2013 Last updated at 10:57 GMT
A large new shopping centre in Leeds this week, despite sagging consumer confidence.
Property group Land Securities hopes the economy can support the £400 million development.
Robert Noel, chief executive officer of Land Securities, told the Today programme's business correspondent Simon Jack: "Retail is not dead, it's just changing.
"There is still great demand from retailers and consumers in locations which are strong and where they can trade well, and that was the route of our investment in Leeds."
First broadcast on BBC Radio 4's Today programme on Tuesday 19 March 2013.