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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Transforming Shopping Centers into Omnichannel Platforms

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The Value of PropTech in Property Management and Retailer Engagement

With 2019 heralded as the coming-of-age for PropTech, owners and managers of real estate are under increasing pressure to understand the value of technology when making key tech investment decisions.

STEP AWAY FROM THE DESK: WHY ATTENDING A CONFERENCE IS MORE IMPORTANT THAN EVER

In a time-poor working week, we may find ourselves wondering how we can justify the expense and time away from the office that inevitably come with attending industry events. ICSC Europe Managing Director, Bill Kistler, interviews leading consumer behaviouralist, Ken Hughes, to ask “Are conferences really worth it?”

ADVOCACY IN THE EU – WHY IT MATTERS

An important judgement clarifying European rules on retail establishment; a very strict EU data protection regime; a binding number of charging points for e-vehicles for buildings with more than 10 parking spaces. These are a few examples of important, new rules for the retail property industry adopted by the EU in recent years — and together, they’re a good example of why European policymaking is increasingly important for our sector.

The good old days

The department store is in crisis. European department store chains close one store after the other. If the format wants to survive it needs to reinvent itself completely.