Oxford Properties’ GTA shopping centres achieve record-breaking sales in 2025

TORONTO

Oxford Properties Group (“Oxford”), a leading global real estate investor, developer and manager, today is proud to announce another record-breaking year for its three Greater Toronto Area (GTA) shopping centres, according to the International Council of Shopping Centers’ (ICSC) 2025 report of shopping centres sales performance.

Reflecting their roles as essential, experience-driven hubs with curated, best-in-class tenant mixes, annual sales at Yorkdale, Square One, and Scarborough Town Centre (STC) have increased consistently over the past four years. Yorkdale achieved a record-setting $2,368 sales per square foot this year, representing an increase of 34 per cent since 2021 and cementing its position as Canada's top-performing shopping centre for a decade. This sales figure is over $700 higher per square foot than any other Canadian shopping centre. Mississauga’s Square One saw $1,396 sales per square foot, which marks a 67 per cent increase since 2021, reflecting its emergence as one of Ontario’s top retail destinations.

At STC, 2025 sales exceeded $1,000 per square foot for the first time, representing an impressive increase of 84 per cent since 2021 and reinforcing its relevance as the pre-eminent regional community and cultural hub in the eastern portion of the GTA.

“This year’s record-breaking performance is driven by a commitment to bringing internationally renowned brands to Canada, often for the first time, and delivering a best-in-class retail experience that continues to evolve,” said Robert Horst, Vice President, National Retail at Oxford Properties Group. “Our GTA shopping centres are retail, recreation, and cultural hubs that attract shoppers from across the GTA and from around the world. Yorkdale and Square One are both established market leaders, while STC continues to capture the attention of the region and steadily grow in influence and economic impact. STC’s performance this year validates its position as a key retail destination within a dynamic and diverse community, and we look forward to seeing it continue to build on this success in the years ahead by offering a compelling mix of destination and necessity-based retail.”

Following a successful year that included the opening of Simons first Toronto-based store and Canadian retail firsts with the opening of Gentle Monster and AMI Paris, Yorkdale once again achieved the position of Canada’s top performing shopping centre ($2,368 per sq. ft.). It has consistently dominated Canadian performance rankings since ICSC began publishing this annual report and is also regularly cited as one of the most productive shopping centres in North America. With plans to complete its new luxury corridor later this year when the Gucci boutique opens its doors, Yorkdale continues to elevate its shopping experience. Gucci will join other leading luxury retailers including Brunello Cucinelli, Dior, Loewe, Loro Piana, Jimmy Choo, Maison Margiela, Moncler, RIMOWA, Saint Laurent, Tom Ford and Versace.

Square One and STC built on their momentum from 2024 with increased sales per square foot in 2025 of 8.6 per cent ($1,396 per sq. ft.) and 11.1 per cent ($1,073 per sq. ft.) respectively. Square One is located in the heart of the rapidly growing City of Mississauga and is welcoming a new generation of residents to the surrounding mixed-use community, Square One District. Anchored by an elevated retail mix and thriving culinary scene, its continued outperformance showcases Oxford’s ability to redefine the shopping centre experience through thoughtful curation, placemaking, and forward-thinking asset management.

STC’s 2025 performance is indicative of its evolution into a regional shopping destination of significance. Now home to one of the largest WINNERS in the region, it also serves as a cultural hub, hosting the Scarborough Walk of Fame, BreakTO breakdancing competition and local arts and cultural festivals including the Caribbean Carnival.