THE LATEST RETAIL REAL ESTATE NEWS
Intu's three priorities are to look after its employees, to protect its business and to play its role in society.
Josip Kardun has 20 years of pan-European real estate investment and management experience. He previously served as CEO of Blackstone’s largest European operating platform where he managed over €10 billion of assets across 14 countries.
MIPIM 2020, scheduled to take place June 2-5 in Cannes, is transforming into a two-day, Paris-based gathering of real estate and technology leaders in September and a new online experience, MIPIM Connect, available year-round.
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Europe’s retailing sector is reeling from the shock of lockdowns across the region to limit the spread of the Covid-19 pandemic, but the impact on the sector’s credit outlook will be uneven, says Scope Ratings.
Citycon Oyj assesses that its prospects for 2020 have weakened and withdraws its guidance for 2020 issued on 6 February 2020. At this point, the company does not specify its direct operating profit, EPRA EPS or adjusted EPRA EPS forecast for this year in more detail due to the uncertain market situation.
The Netherlands and most other European countries are forecast to be pushed into recession this year by the impact of the coronavirus pandemic.
The ECE centers - like the entire retail trade and large parts of the economy - are massively affected by the effects of the corona crisis.
Businesses deemed non-essential by the authorities which are located in the Group’s shopping centres in Bulgaria, Czech Republic, Croatia, Lithuania, Poland, Romania, Serbia and Slovakia are now temporarily closed.
Retail intelligence experts Springboard revealed that we are starting to see the true impact of Coronavirus on consumer activity.
Standort + Markt recently published a first estimate regarding the anticipated daily loss of revenue of shopping places in Austria due to the corona shutdown. Its results provide solid guidelines for the European retail real estate market in general.
URW continues to focus on the strength of its asset portfolio, its capital allocation priorities and the preservation of its strong liquidity position, in addition to the health and safety of its employees and communities.
IKEA Austria just delivered 50,000 urgently needed protective masks to doctors and hospitals. 20,000 surgical face masks went to the SALK hospitals in Salzburg, another 30,000 will be put to good use at registered doctors by the Viennese Medical Chamber.
The list of retailers in Great Britain, who are temporarily shutting down their stores due to the corona crisis, continues to grow. For example, H&M and Zara recently announced that they will shut down their stores.
Arricano informs that in order to implement measures aimed at combating the spread of the COVID-19 pandemic, central and regional government authorities have made respective decisions to suspend the operation of shopping malls in Ukraine until April 3, 2020.
Based on preliminary figures, shopping center investor Deutsche EuroShop closed financial year 2019 with good operating figures that partially met or exceeded forecast. However, the financial implications for the 2020 financial year of the continued spread and unpredictable duration of the corona virus pandemic cannot be quantified at this stage.
Vastned, the listed European retail property company focusing on ‘venues for premium shopping’, published an update on the situation caused by the COVID-19 virus.
LPP will provide isolation hospitals with face masks worth PLN 1 million – the first batch of 3300 pieces has already been delivered to the isolation-only hospital in Gdańsk.
The M&S family (including M&S Bank and M&S Energy) announced to its customers the launch of the new Neighbourly Community Fund.
The coronavirus pandemic will have a negative impact on economies across the EBRD regions but recovery could be robust once the outbreak is contained, according to the Bank’s economists.