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PROJECTS, TRENDS AND STRATEGIES

AG Real Estate is on the verge of completing the extensive renovation and extension works it started in 2019 in Westland Shopping Center in Anderlecht (Belgium). The program includes the arrival of a large department store and a number of new retailers, the expansion of the Food & Beverage offer, and the creation of a leisure center of over 4,000 sq m.

TORG International will collaborate with Start Concept on leasing the first outlet in Brussels. Construction of the entire project is well advanced with an opening planned for late 2023.

LATEST TRENDS IN ASSET AND CENTER MANAGEMENT

Unibail-Rodamco-Westfield (URW) currently operates 21 assets in the German and Austrian region: 19 in Germany, eight of which are in the Group’s own portfolio, and two in Austria. Last year, a total of 714 rental contracts were closed for these 21 assets. The average vacancy rate for the core locations in the portfolio around Westfield Centro in Oberhausen, Ruhr Park in Bochum, as well as Westfield Shopping City Süd in Vösendorf in Greater Vienna and Westfield Donau Zentrum in Vienna, is less than two percent.

DEVELOPMENTS AND TRENDS IN THE OUTLET INDUSTRY

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STRATEGIES OF RETAILERS

By 2035, Gen Y will account for the largest share of global spending on air travel, which is why travel retail must do everything it can to remain relevant to this target group. Millennials’ demand for experiences is also shaping their purchasing and travel behavior, forcing retailers to rethink their store design and marketing strategies. Together with the subsequent Gen Z – whose values are guided by topics such as digitalization, authenticity and sustainability – these generations are not only influencing retail in general, but also the concept of the airport of tomorrow.

JYSK opened the first two stores in Casablanca, Morocco. The opening not only establishes JYSK’s presence in Africa but also marks a significant milestone as the company expands into its 50th country.

FACTORY outlet centers across Poland, operated by NEINVER, are gaining momentum with new store openings and significant expansions from long-standing retail partners. The latest updates to the brand portfolio, totaling nearly 2,200 sq m of added retail space, underscore outlet retail’s growing appeal and NEINVER’s commitment to supporting brand growth.

RETAIL TECHNOLOGY

PLANS OF INVESTORS AND OWNERS

Last year, City Aréna in Trnava, Slovakia, became the property of real estate developer Peter Korbačka. He and Sonae Sierra have recently signed a joint venture agreement to acquire three shopping centers in Spain for a total of EUR 485 million.

WHERE THE INDUSTRY MEETS