CURRENT PROJECTS, TRENDS AND STRATEGIES OF DEVELOPERS
Lead8 has recently unveiled its design for the Shanghai ITC mixed-use destination being developed by Sun Hung Kai Properties +++ Nakheel is investing AED 114 million in roads and bridges that will provide direct access to Al Khail Avenue in Dubai +++ Mitsui Fudosan has announced that work on Mitsui Shopping Park Nangang is progressing steadily +++ A new retail and entertainment scheme in the Egyptian capital of Cairo, which will be supported by the EBRD, will be environmentally friendly and create jobs for young people
The appearance of the banks along the Danube in Bratislava is changing: Eurovea is expanding and is certain to become even more beautiful. This development has been part of the long-term plan from the beginning.
Unibail-Rodamco-Westfield’s (URW) Westfield Mall of the Netherlands will be located in the Randstad area, the economic heart of the country, which includes four of the nation’s largest cities: Amsterdam, Utrecht, The Hague, and Rotterdam +++ Ingka Centres has recently unveiled a major new park at its Mega Ekaterinburg mall in central Russia +++ Broxbourne Borough Council and Hertfordshire County Council have selected Sovereign Centros as their development partner for a £400 million mixed-use scheme at Brookfield Riverside in Cheshunt, Hertfordshire.
Supernova Group entered the Romanian market via a project in Sibiu in early 2019. Managing Director Markus Pinggera speaks with ACROSS about the potential of the country, among other things.
A long time ago, Multi Iberia realized that its customers and partners, along with its dealings with them, had to be the company’s primary concern.
HB Reavis is developing the mix-used scheme Stanica Nivy in the emerging Nove Nivy zone in Bratislava. This new shopping destination will attract 55,000 visitors daily.
Fashion Street, a historical boulevard which stretches over 250 meters, is a high street in the heart of Budapest.
Retail parks were long considered a necessary evil. However, their image changed drastically as they defy online retail due to their function as local suppliers. They now have the full support of customers, tenants, and investors.
Austria's first outdoor center is being built in Parndorf. It will complement the retail conurbation there with, among other things, suitable shopping opportunities in the medium to upper-end quality segment. A safety training center featuring a firing range will serve as a particular highlight. A water fun park is scheduled to follow during the second expansion phase.
Diversification in real estate is a smart strategy at any stage in the economic cycle to hedge against risks. While some funds try to balance their holdings across a range of asset classes, an alternative key solution is a mixed-use approach to individual projects. Even when schemes are dominated by one usage type, the inclusion of different elements gives the asset greater resilience across market cycles and evolving political, demographic, and economic scenarios.
The Belgian De Vlier Retail Development Group has been planning and constructing retail parks in Belgium, France, and Austria under the Frunpark umbrella brand for close to 20 years. In an interview with ACROSS, Managing Director Peter De Roo reflects upon the last two decades and looks toward the future.
Unibail-Rodamco-Westfield Germany is currently cooperating with Hamburg start-ups. In his function as Innovation Manager, Joscha Domdey is responsible for the coordination of activities with such start-ups. The company's first partners include e-floater and Wunder Mobility.
Linstow expanded Ülemiste shopping centre by 13,000 sq m of shopping and entertainment space, with most of the additional floorspace taken up by entertainment and food and beverage services.
MPC Properties is currently investing 250 million euros in new development projects, all located in Belgrade, the capital of Serbia: office buildings Ušće Tower Two, Navigator Business Center 2 and BEO Shopping Center, which openings are planned for 2020. These three investments are in total more than 221,000 sq m of GBA.
The Hudson Yards neighborhood officially opened to the public on March 15, 2019, marking a historic moment in the city of New York. +++ Following an investment of 52 million euros, Jardín Plaza Cúcuta opened its doors to the public on February 27, 2019 as the city’s largest shopping center. +++ TCC Assets Co., Ltd. and Frasers Property Limited jointly intend to develop 16.7 hectares, in the heart of Bangkok, into a “must-visit” destination city district. +++ Set in the heart of Shanghai’s financial district, L+ Mall will be situated close to Shanghai Tower
GranRoma in Italy, StadtGalerie Velbert in Germany, Galeria Mlociny Poland, and Ada Mall in Serbia: Various retail properties across Europe opened within just a few days.
Supernova, the Graz-based real estate investor, has taken over 10 shopping centers comprising more than 120,000 sq m of leasable area from Mercator in Slovenia. The 116.6-million-euro sales agreement was signed in October 2018; on February 13, 2019, ownership was transferred to Supernova. Managing Director Markus Pinggera intends to carry out refurbishment work on all centers.
Outlet centers need to address some of the main growth opportunities in the industry: increasing the frequency of visits and expanding the customer base by attracting new segments, as well as prolonging dwell time.
Otto Ambagtsheer, the COO of VIA Outlets, also joined the ICSC European Conference & Exhibition in the Catalan capital. In his interview with ACROSS, he talks – among other things – about the company’s current remodeling projects.
The paradigm shift in the retail and retail real estate industry were the key issues at this year’s ICSC European Conference in Barcelona. The industry’s big players adapt their business models to bind current and future customers even closer to stationary retail. Ingka Centres, formerly IKEA Centres, emphasizes new “meeting place” concepts in the hearts of cities as well as increased manpower.