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In Western Europe, where retail park development has reached maturity, new schemes have to be innovative and compelling. In Central and Eastern Europe (CEE), the market is relatively undersupplied, providing scope for increased levels of development activity. These are the findings of a recent study conducted by Cushman & Wakefield.

Retail parks were long considered a necessary evil. However, their image changed drastically as they defy online retail due to their function as local suppliers. They now have the full support of customers, tenants, and investors.

Residential buildings and hotels emerge on shopping centers. Areas of supermarkets are being used for this as well, as the retail real estate industry discovers the benefits of urban densification.

A connected, future-ready, liveable urban core – that’s the vision for the city of Wolfsburg’s Nordkopf district. The development project is now picking up speed. The plans for the inner city areas to the south and the west of the Wolfsburg train station will be designed by the SIGNA Group, which has been signed as an investor and a project developer for the entire area. The Austrian SIGNA Group and Wolfsburg AG are concluding a project development agreement for this purpose. The next step for the project partners will be to develop an overall concept to be put to the Wolfsburg City Council and all other involved parties for approval.

Since the liberalization of opening hours – determined by the “Salva Italia2” decree passed in 2011, during Mario Monti’s legislature – retailers in Italy have been free to open on Sundays and festive days, according to their own commercial strategies.

In the 1980s, the retail format of designer outlets arrived in Europe. Now, the time for expansions and refurbishments, with a focus on food & beverage and leisure, has come.