NEPI Rockcastle achieved a 12.7% uplift in net operating income (NOI) to 135 million euros in the first quarter (Q1) of 2024 versus Q1 2023. On a like-for-like (LFL) basis NOI was up 9.4%. This solid growth was driven by higher base rents and tenant turnover as well as tight management of operating costs across its retail property portfolio, the largest in Central and Eastern Europe, reveals NEPI Rockcastle in its latest Q1 2024 business update.
Our industry is strong and can achieve a lot. To emphasize this optimistic spirit, we want to showcase what our industry offers. Recommended by Yurdaer Kahraman, CEO and Board Member of FİBA Commercial Properties, and Member of the ACROSS Advisory Board, Galataport Istanbul is one of the many outstanding placemaking projects that drive the industry forward.
Our industry is strong and can achieve a lot. To emphasize this optimistic spirit, we want to showcase what our industry offers. Recommended by Klaus Striebich, Managing Director of RaRE Advise, and Head of the ACROSS Advisory Board, Milano´s Galleria Vittorio Emanuele II. is one of the many outstanding placemaking projects that drive the industry forward.
Major global brands are flocking to Malmö Designer Village, which will be Scandinavia’s largest outlet destination, as well as one of the top outlet centers in Europe, once fully complete.
Following a customer-centric approach, the ‘BOLD’ strategy carried out by ROS Retail Outlet Shopping across its entire portfolio reached full potential in 2023. The operator’s average sales soared by +16.5% across the portfolio in 2023, fuelled by an enriched brand mix, a stronger shopping experience and the ability to adapt to evolving market conditions.
As the nostalgic memories of greasy fast food and sticky trays fade away, the death of the old-fashioned food court looms over the culinary landscape. An expert in the world F&B development, Will Odwarka, founder and CEO of Dubai-based firm Heartatwork Hospitality Consulting, states in his newest column: “With the rise of trendy market halls, food halls, and multi-purpose restaurant experiences, traditional food courts are struggling to keep up with the ever-evolving dining scene. But wait a minute, is that really true?”
Central Europe’s leading designer outlet set a new visitor record in 2023 with 6.8 million visitors above pre-pandemic levels. Sales were up ten percent in 2019, with the strongest growth in visitor numbers coming from South Korea, the Middle East and South East Asia. Seven million euros have been earmarked for investment at the site to ensure the success story continues.
NEINVER has announced a strong operating performance in 2023, with total brand sales reaching 1.48 billion euros across its entire portfolio, an 11% y-o-y increase and record-breaking monthly growth. The centers operated by the company across six European countries welcomed a total of nearly 68 million visitors over the course of the year, up 8.5% compared to 2022.
FACTORY, the Polish outlet brand managed by NEINVER, is not only an awarded outlet brand but also a success story. ACROSS spoke with Magdalena Chachulska, Asset Management Director NEINVER Poland, about the portfolio, developments, specifics about the Polish market and what needs to be done to remain the market leader in 2024.
Guests can look forward to a special highlight at the Grand Opening of Westfield Hamburg-Überseequartier on April 25, 2024: Unibail-Rodamco-Westfield (URW) Germany has announced international superstar Rita Ora will perform her world-famous hits on stage at Westfield Hamburg-Überseequartier’s waterfront, the quay area with a view of river Elbe.
There are 211 major outlet centres in Europe. Differences in brand line up have created a clear performance hierarchy of sites, which is widely understood by outlet professionals, states Ken Gunn in his lastest European Outlet Ranking. It is possible to use this hierarchy to profile brands by the performance quality of their locations and ultimately rank outlet centres by the strength of brands present.
Geddid is a vibrant hub in the ever-expanding universe of e-commerce that delights end customers and retailers alike. In addition to its diverse product offering, it is characterized by its commitment to outstanding customer service.
Exactly 50 years ago, the first Dille & Kamille store opened in a shipyard cellar on the Oudegracht in Utrecht, the Netherlands. There are now 47 stores in Belgium, Germany, and the Netherlands.
Reinventing the high street: With the redevelopment projects of two iconic assets in Paris, one on Boulevard Haussmann and one on Rue de Rivoli, Redevco not only shows how historic buildings can be transformed into innovative multi-functional destinations, but, in the case of Boulevard Haussmann also how space can be showcased even during a redevelopment.
The construction of Designer Outlet Kraków is at an advanced stage, with the building reaching the open shell phase. Located in Kraków’s city center at one of the most popular arteries in the city, Designer Outlet Kraków will benefit from a catchment area of almost 5 million inhabitants and a great tourism potential. The opening is planned for spring 2025.
In general, European consumers have not changed their purchasing habits significantly in the past year, but have remained the same throughout the year.
Great performance at EuroCis 2024: Presentation of the reta Awards in five categories and glamorous presentation of the Science Award to three prize winners.
MK Illumination is unveiling its latest offerings for the upcoming summer season, promising to infuse shopping centers and public spaces with vibrant energy and captivating designs.
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