by CHristoph Andexlinger, CEO of SES Spar European Shopping Centers
The shopping center industry is entering the New Year with renewed optimism. After a challenging period, we are once again seeing positive market signals – despite the persistence of hurdles such as high inflation, complex bureaucracy, and unequal competitive conditions compared to online retail.
Christoph Andexlinger
CEO of SES Spar European Shopping Centers
SES’s response is consistently proactive. People are seeking experiences, which is why we place inspirational retail offerings at the core, complemented by gastronomy, health services, art, and entertainment. The example of periodic markets in shopping malls demonstrates that an authentic atmosphere can only be created in real life: bricks and mortar have a future.
In 2026, we will continue to expand and create vibrant living spaces with the highest customer relevance, further strengthening our position as the market leader for large-scale shopping destinations in Austria and Slovenia, as well as our business in other countries where we operate malls successfully (Croatia, Italy, Hungary, and the Czech Republic).
A major expansion is currently underway at EUROPARK Salzburg (Austria), which is both SES’s flagship mall near its corporate headquarters and a stable economic driver for the region. With retail sales increasing by 2.8 percent to EUR 395 million in 2024, the mall continues to assert itself as the most successful shopping destination in its catchment area.
The EUROPARK shopping destination is being expanded. In an already sealed parking area and without sealing any new surface, retail space will be created, and new qualities of stay will further enhance the site’s attractiveness as a shopping and leisure destination. Construction work commenced in January 2026 without any disruption to ongoing operations. The first new stores are expected to open by autumn 2026, with the entire project scheduled for completion in autumn 2027 – just in time for EUROPARK’s 30th anniversary celebrations.
With a large-scale modernization under the motto “fresh, bright, and welcoming,” SILLPARK in Innsbruck, Austria, is being repositioned for the future. The EUR 30 million project is being implemented during ongoing operations and will be completed by autumn 2026. Through this investment, the centrally located mall is further strengthening its role as a key meeting place in Innsbruck’s city center and is featuring a special highlight with regard to multi-purpose use: Austria’s first health park, totally integrated within a shopping mal,l is also being developed at this prime location. The forward-looking medical care center is being established in cooperation with Vinzenz Gruppe Service and will cover approximately 3,000 square meters.
It goes without saying, like all SES’s projects, the current redesign of SILLPARK is being carried out in line with the highest environmental standards. Energy-efficient lighting, sustainable materials, and resource-efficient construction methods are central elements of the project. Sustainability is a core pillar of SES’s activities, and SILLPARK already operates its own hydropower plant, which covers 50 percent of the center’s general energy requirements through environmentally friendly in-house production.
Sustainability remains a top priority across all of SES’s 32 shopping destinations in six countries, encompassing a total of 866,000 square meters of leased area. While regulatory requirements are demanding, pragmatic solutions are essential. At the same time, digitalization and AI are being deployed across properties to enable personalized customer engagement and technical optimization.
Another large-scale refurbishment and expansion, scheduled for completion in 2026, is currently underway in Croatia at Zagreb’s KING CROSS Shopping Center, which is being transformed into the most modern mall in the country. In Varaždin (Croatia), SES is also developing a retail park on the site of a former textile factory that has stood vacant for many years.
While remaining mindful of persistent political and economic uncertainties, SES is determined to further expand its footprint in the years ahead. As a reliable and long-term partner for tenants and stakeholders, SES continues to invest responsibly and proactively, shaping resilient, future-oriented retail destinations and reinforcing its role as a trusted leader in the retail real estate industry.
2026 will be challenging, but full of opportunities for those who dare to shape the future. We are ready.
