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PROJECTS, TRENDS AND STRATEGIES

NEPI Rockcastle’s strong net operating income (NOI) growth of 13.5% in the first half of 2024 allowed the company to raise its forecast for full-year distributable earnings per share. Justyna Bartosz, the Group’s Head of Leasing, explains what makes the CEE’s retail and consumer world tick and why it is that NEPI Rockcastle and its tenants can’t pay enough attention to the buzzwords: experience, community building, and authenticity.

A good ten years after its opening, Skyline Plaza in Frankfurt am Main, which is jointly owned by Allianz and ECE, is receiving more than 35 million euros for an extensive modernization program. With new tenants and concepts, a revised design and numerous additional offers and services, it is being comprehensively prepared for the future.

Utopian Hours, taking place 18-20 October in Turin, Italy, is a three-day international event organized by urban knowledge agency Stratosferica, showcasing and discussing new concepts and inviting guests and audiences to suggest a new way of conceiving human evolution. Starting from the first edition in 2017, the festival aims to give for the eighth time a voice to the people behind these changes: City makers, activists, architects, and innovators share their experiences and stimulate new visions for the future and concepts of cities. ACROSS spoke to Daniele Vaccai, Project Developer at Stratosferica, about the festival, its program, and speakers.

LATEST TRENDS IN ASSET AND CENTER MANAGEMENT

The Balkans remain largely overlooked in our industry, despite the region’s significant growth. I have always been keen on highlighting developments that go underappreciated but hold remarkable potential. The Tirana East Gate (TEG) in Albania is one such gem. Backed by the BALFIN GROUP, a highly successful and innovative developer, TEG is a standout that deserves attention for its promising role in shaping market trends in the region.

DEVELOPMENTS AND TRENDS IN THE OUTLET INDUSTRY

With the FREY Group as a new financially strong property partner providing robust support, ROS Retail Outlet Shopping is setting the stage for further growth and enhanced premium outlet shopping destinations across Europe. Major expansions at four centers and two new developments are set to be completed within two years.

Fashion House Group is the only outlet operator in Romania, and it benefits from a growing interest in international brands in Southeast Europe. In this interview with ACROSS, Brendon O’Reilly, Managing Director of Fashion House Group, explains how he wants to grow and expand with these brands.

VIA Outlets is expanding at almost every one of its 11 premium fashion outlet locations across Europe, and strengthening the F&B offering is a priority, CEO Otto Ambagtsheer says. He’s confident that organic growth will continue to be the company’s mainstay, because there are very few acquisition opportunities on the market currently, but VIA Outlets will seize the chance to invest if the right M&A deal arises that fits with its business strategy. He added that expanding VIA Outlets’ omnichannel strategy is another key priority.

FACTORY Poznań, managed by NEINVER, has officially opened a 2,000 sq m pocket park. This spectacular green space – complete with unique architectural elements – was designed and constructed in collaboration with landscape architects and biodiversity experts, part of the LIFE Archiclima project, a program funded by the European Union and the Polish National Fund for Environmental Protection and Water Management.

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STRATEGIES OF RETAILERS

SILLPARK, the largest inner-city shopping center in Innsbruck, Austria, in terms of area, and which attracts over 5 million visitors a year, is to remain fully operational while it undergoes modernization and is enhanced with a very special innovation: in a first for Austria’s shopping malls, a health park of more than 3,000 sq m in area is being built here.

LATEST TRENDS

Thanks to their diverse mix of tenants and sectors, today’s shopping centers are more than just places to go shopping: They’re experience destinations and community hubs that enjoy a great deal of popularity – as illustrated by ECE Marketplaces’ latest success figures. Entertainment concepts have increasingly become attractive complements to and additional drawing cards for the respective locations, as current ECE center portfolio examples show.

“It’s a fair question these days in lots of Western countries, Europe first and foremost. Running a restaurant in Europe requires a more nuanced approach than simply focusing on high revenue figures,” shares Will Odwarka, Founder and CEO of Dubai-based firm Heartatwork Hospitality Consulting in his latest “F&B Insights” column. “The notion that success is guaranteed by sheer volume is misleading, as the current challenges facing the industry demand a deeper understanding and strategic planning,” he explains. Opening a restaurant in Western Europe may seem daunting to some, but it is essential to address the underlying issues that have been exacerbated by the recent global pandemic.

Like no other German shopping center, “The Playce” at Potsdamer Platz in Berlin is a shopping and cultural destination that focuses on food and beverage, leisure, and retail stores that are new to Berlin or unique in their concepts. One and a half years after its opening, The Playce is now 96 percent leased. ACROSS discusses why now is the best time to be part of the project with Roger Goyk, Director of Retail Brookfield Properties, and Jonathan Doughty, Special Project Manager at ECE.

The food hall market in Europe has seen significant growth and transformation over recent years. In less than a decade, the number of European food halls has almost doubled, with the UK, France and Italy leading the pack. Despite a pandemic and cost of living crisis across the continent, landlords and operators are seeing the benefit of the flexible model for our ever-changing modern world. There’s even been some new openings since C&W released our ‘Food Halls of Europe’ report in July 2024, including Time Out Market in Barcelona and Mercato Metropolitano in Ilford, London.

RETAIL TECHNOLOGY

Expo Real, Europe’s largest property and investment trade fair, concluded with a strong focus on digital transformation in the real estate sector. Among the key exhibitors, HyperIn stood out for its contributions to discussions on the evolving landscape of commercial real estate technology. The event served as an important platform for HyperIn to showcase their all-in-one platform, engaging industry leaders and sharing insights on how technology is shaping the future of property management.

Shopping centers—including multi-use, regional, luxury centers, and outlet malls—should always be looking for ways to increase traffic and maintain loyalty among existing shoppers, as well as attract new visitors. This article by Placewise CEO Susan Hagerty Bonsak delves into how experiential marketing can help centers evolve into vibrant community hubs. Let’s explore a hypothetical event, Sensory Spring Fest, which uses experiential marketing to create engaging activities, drive sales, and build strong community ties.

Hardly any other word has characterized the real estate industry lately as much as transformation. It describes many different aspects and involves all stakeholders. However, one area that is often neglected is community building. We are ignoring the most critical group: the users and consumers. David Fuller-Watts, CEO of Mallcomm, explains in this interview what community building should stand for today and what the real estate industry, including proptech, needs to do to serve their communities’ changing needs.

Why do we visit shopping centers? Is it merely for shopping, or are we seeking entertainment, a place to meet, or perhaps all of these experiences combined? Despite the diverse reasons that draw us to shopping centers, one expectation remains consistent across all visits: the demand for quality.

PLANS OF INVESTORS AND OWNERS

NEPI Rockcastle’s strong net operating income (NOI) growth of 13.5% in the first half of 2024 allowed the company to raise its forecast for full-year distributable earnings per share. Justyna Bartosz, the Group’s Head of Leasing, explains what makes the CEE’s retail and consumer world tick and why it is that NEPI Rockcastle and its tenants can’t pay enough attention to the buzzwords: experience, community building, and authenticity.

The acquisition of the leading shopping mall in Novi Sad for 177 million euros by BIG CEE marked Serbia´s largest retail transaction ever. Promenada, one of the strongest malls in the country, features many international brands, a 100% occupancy rate, and more than 10 million visitors annually.

After the collapse of a previous deal last year, the Swiss luxury goods group Richemont has found in Mytheresa a new buyer for its online fashion and accessories business Yoox-Net-a-Porter (YNAP).