OUTLOOK 2024: „Well-Made Places Must Also Be Sustainable And Energy-Efficient”

From your point of view, what are the main challenges for the placemaking industry in 2024?

The upward trend in costs (energy, labour, interest charges) is a challenge for all of us, including our shop partners. At the same time, we need to invest in our infrastructure (such as installing more efficient technology to reduce our energy consumption) and in the requirements imposed by the ESG regime, because in future our visitors are going to pay much more attention to whether a mall is managed sustainably.  

What opportunities and trends do you see?

The greater the inroads that digitalisation makes into our daily life, the more people will also want an opposite pole: well-made, entertaining places, whether they are analogue or real. This is the major opportunity for the retail real estate industry. And of course, “analogue places” can also be underpinned by digital options wherever this makes sense.

However, well-made places do not just have to offer relevant products and services, they must also be sustainable and energy-efficient – in short, they must help to safeguard the planet for our grandchildren. In the future, people will avoid places that do not meet these criteria.

In your view, are there fundamental and lasting changes that await the placemaking industry?

Yes, definitely, but that is just the nature of our industry. As long as there are changes, our industry will still be here, because change is a fundamental characteristic of our business.

Your recommendations/wishes for the industry and market participants.

Time and again I hear pessimists proclaiming “survive to ´25”, in other words, make sure you’re still in the market beyond 2025. I‘m an optimist: we have never had so many opportunities for creating great places where people can meet up. Those of us that stick with it will not be short of opportunities.

Christoph Andexlinger

Christoph Andexlinger is CEO at SES Spar European Shopping Centers.