Opinion

10 YEARS ACROSS

SPECIAL: 10 YEARS ACROSS - OVERVIEW

 


10 YEARS ACROSS – EDITORIAL

DEAR READER,

When we presented the first print issue of ACROSS exactly 10 years ago, an epochal event shook the world economy. The US-investment bank Lehman Brothers went bankrupt with a deafening bang and caused the biggest economic crisis in recent years. The real estate industry was hit particularly hard.

Numerous new projects came to a halt, were delayed, or shelved entirely. It took the industry years to recover from its shock-induced paralysis. In the first months of the Lehman-weekend we already predicted in our second issue that particularly major players could see this crisis as an opportunity. And that is exactly what happened.

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A SEEMINGLY COMPRESSED TIME PERIOD

What shaped and moved the retail real estate industry in the past 10 years.

When ACROSS was launched in 2008, the global economy was on its way down. Quite a few decision makers – even from within the European shopping center industry – desperately tried to turn a blind eye to this fact.

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FORTUNE FAVORS THE BRAVE

Bill Kistler is ICSC Executive Vice President & Managing Director – EMEA. Image: ICSC

The retail real estate industry has faced many challenges in the decade since the crash. Most fundamental among them was a textbook case of falling demand facing rising supply.

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“WE SAW THE INTEREST OF INVESTORS VANISHING”

Francisco Cavaleiro de Ferreira, Managing Director of Multi in Iberia. Image: Multi

From the outbreak of the financial crisis until 2016, hardly any new shopping center openings occurred in Spain and Portugal, reports Francisco Cavaleiro de Ferreira, Managing Director of Multi in Iberia. Now, the markets have recovered.

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WESTFIELD LONDON ALSO TURNS 10

The mall is a 50:50 joint venture between Unibail-Rodamco-Westfield and German Commerz Real, a subsidiary of Commerzbank AG. Image: URW

Almost simultaneously with ACROSS, Europe’s largest shopping center celebrates a decade of operation. Westfield London reveals how shopping habits have transformed in the British capital over the last 10 years.

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ABOUT A SOPHISTICATION

Daniel Losantos is the CEO of Neinver and is a member of the ACROSS Advisory Board. Image: Neinver

Outlet centers have proved to be one of the most successful businesses in the retail market.

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THE MOMENT REPRESENTS SPACE WITHOUT DIMENSION

Moritz Lück is Head of Marketing at Düsseldorf retail park specialist MEC. Image: MEC

Even after 10 years of online retailing, the clear dominance of brick-and-mortar retailing remains unbroken.

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INDUSTRY LEADERS’ IMPRESSIONS OF 10 YEARS OF ACROSS

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Opinion MORE

Retail park opportunity through lockdown crisis

“In times of crisis we must adapt or die, while taking care of our employees and the communities that we serve.”

Composed a reopening package

“We from HyperIn partnered with Helsinki-based retail placemaking agency Propdea Oy to contribute a more holistic approach to serve the industry decision makers.”

Strengthened business strategy

„The reopening showcased our strength as a pan-European platform, as we shared the experiences of each country reopening, starting with Germany in mid-May, followed by all of the countries we are operating in.“

“Healthy space” measures at Finestrelles in Barcelona

“We created a whole series of protocols aimed at returning the shopping center to normal.”

Reopening to New Possibilities

“It is evident that digital reach for malls will be more important than ever before as the world emerges from Covid-19.”

Looking to the future with optimism

“Although it is still too early to determine changes in customer behavior, our preliminary assessment after the first few weeks of the reopening is optimistic in terms of sales and inflows.”