INSUBCONTINENT EXCLUSIVE:
As San Francisco battles to maintain its significance, Silicon Valley prospers.The Westfield Mall in San Francisco is witnessing a downturn,
marked by vacant shops and dwindling footfall, compelling the proprietors to relinquish the estate to their creditors.In contrast, San
tech hub due to the pandemic and industry changes, writes Bloomberg in its latest report.San Francisco, once attractive to young
professionals, now faces population decline and empty offices, while Silicon Valley remains resilient, supported by remote work and tech
giants like Nvidia and Apple.As San Francisco battles to maintain its significance, Silicon Valley prospers
thrive.San Francisco lags in post-pandemic recovery with a 30% office vacancy rate, 40,000 residents lost during the pandemic, and a
projected 3% smaller population until 2060.Although Silicon Valley has a slower return to offices, its large tech campuses and shopping
centers make it less dependent on downtown offices.Rising property values and three companies with market values over US$1 trillion suggest
long-term population growth.San Francisco Mayor London Breed is working to revitalize downtown, reform business taxes, and attract new
companies.She proposed demolishing the Westfield Mall for a football stadium.Despite high housing costs and residents leaving for cheaper
areas, investors are backing the purchase of farmland to create a new urban oasis northeast of San Francisco.However, increased crime and
street dirtiness drive residents away, and the city faces a US$780 million budget deficit and a negative credit rating outlook from
