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Despite the pandemic and nearly two months of lockdown, Westgate Shopping City has continued to open new stores and attract visitors. The shopping center in Zagreb is prepared to face the realities of the near future, which are sure to be challenging.

The Supervisory Board of Vastned, the listed European retail property company focusing on ‘venues for premium shopping’, announces that it has reached the conclusion, jointly with CEO Taco de Groot, that Mr De Groot will step down as CEO as of 1 December 2020.

ECE is restructuring and as of January 1, 2021 will be an integrated group of companies in the real-estate and investment business, offering asset management, development expertise, investment management, and other full-service real estate services under one roof.

Recruitments, promotions and appointments…

Leading management and technology specialist for parking and visitor insight, GroupNexus, has identified that during the first week in July, motorway service station visits have now surpassed pre lockdown figures from the same period four months ago, showing an increase of 4.46%, whilst dwell time has decreased by 14% to 30mins, compared to pre-pandemic. [1]

Since opening their doors on June 15, The Boulevard, Banbridge and The Junction, Antrim, two of Northern Ireland’s largest out-of-town retail schemes, have enjoyed a significant rise in footfall comparable to the same period in 2019 and unlike many high streets, this hasn’t dipped dramatically as the novelty of being out wears off.

“Now, ULI Europe’s latest report, ‘Reshaping Retail–Accelerating Change’, forecasts that the impact of Covid-19 will accelerate the restructuring of the retail property sector, even more so in the United Kingdom.”

Trei Real Estate GmbH (Trei), a developer and asset holder for residential and retail real estate with activities across Europe, just opened the 17th retail park of its Vendo Park brand in Poland. The retail park is located in the city of Płock in the Masovian voivodeship.

Business closures and rent losses in the coronavirus crisis have made banks even more cautious about retail properties and shopping centers. In the case of refinancing, portfolio holders have to calculate with higher interest rates and additional equity.