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More exquisite, spectacular, and sophisticated: the projects presented by the top players at MAPiC
DeVeLOPMenT Karl Reinitzhuber, head of mfi, about his interaction with Unibail-Rodamco CenTeR MAnAGeMenT How TGM’s transfer of know-how to north Africa works CiTY RePORT PRAGUe The market in the Czech capital has been picking up since 2013
The Urban Agenda – a Call to Action .................................. 6 Commentary by. Joris de van der Schueren
An Early Launch in Stuttgart . ........ 26 On October 9, ECE opened the Milaneo mall – half a year earlier than planned Construction Progressing in Gdan´sk ........................................ 28 One of Galeria Metropolia’s construction elements has already reached the target height of the whole building and installation – a full year and a half before the planned opening
Sans Esprit ........................................ 8 Commentary by Reinhard Winiwarter Growing Retailer Demand for Designer Outlets.......................... 9 Commentary by Alice Breheny Keep Retail Moving Forward .......... 10 Commentary by Jean-Marc Jestin
“Shopping by Accident” .................. 30 ACROSS spoke with Ikea Russia’s chief Armin Michaely about the Russian market and the shopping center of the future
Shopping Centers 2015 – the Urgent Search for Innovation....................... 11 Commentary by Christoph M. Achammer
“We’re Createing a Better Experience for Our German Customers” . .................................... 32 Karl Reinitzhuber, head of mfi in Germany, explains what has changed since UnibailRodamco purchased a majority stake in the company
In the Pipeline.................................. 36 More exquisite, spectacular, and sophisticated: the projects presented by the top players at MAPIC
How Technological or Qualitative Improvements to a Cinema Can Raise Market Share . ................................. 44 A trend has become more and more visible: The integration of “premium screens” as an outstanding quality feature at a multiplex cinema
Projects & Openings............................16 Projects, openings, human resource announcements, and other retail real. estate news
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Image: MFI
Image: ECE
It’s All about Motivation .................. 12 Commentary by Julian Long
Best Practice at Christmas ............ 46 MK Illumination’s grottos and animation concepts make a dramatic impact and create steady revenue
“Anyone Who Survives a Storm Comes out Stronger” ...................... 60 The Italian brand EYE Sport is active in the problem markets of Spain and Greece, among other places. CEO Alessandro Ariu explains what he and his business partners have learned from the crisis
Balmain Asset Management with New Managing Director for CEE . .............. 74 Ewa Szafran´ska-Ma˛dry has been. appointed
Image: pixelio.de
CityFit Plans 50 Fitness Clubs in Poland .............................................. 62 Nicholas Moses, Managing Director of CityFit, says that shopping centers and retail parks will play a central role as locations in this expansion Shopping Centers in Europe – 50 Years of Change? . ........................... 66 Commentary by ACROSS’s Retail Scout Jörg F. Bitzer
Image: Neinver
Bringing Together Emotion and Business ................................... 48 The next Christmasworld takes place from January 30 to February 3, 2015. Eva Olbrich, Director of Christmasworld, reveals what visitors can expect New Look under the Sign of Color and Water .............................. 52 The Italian company Cogest Retail manages Tower Center Rijeka in Croatia. CEO Carmen Chieregato talks about the daily business and tells us about the upcoming refurbishment The Transfer of European Retail Market Know-How to North Africa ................................ 54 European retail market knowledge. is for sale. Who will buy it? Creating Destinations in Shopping Places . ............................ 58 Foodservice Column by Jonathan Doughty
Online Retail Is Growing up . .......... 76 A recent study by EHI and Statista shows that the rapid growth of the e-commerce market in Germany is over for now
Outlet Centers Are Adapted to Regions ............................................ 68 According to Barbara Topolska, COO of Neinver, the company does not just build open-air centers. Instead, it develops “villages” that draw upon the tradition, history, and architecture of the place in which they are built
Niche Market with Potential .......... 78 “Small is beautiful” is how experts characterize the market in the Czech capital Prague – but insider knowledge is essential On the Lookout for the “European Top 50 Retail Developers & Operators” ................ 80 The largest empirical study of brand equity in the real estate industry – the “Real Estate Brand Value Study” by Eureb – is expanding its panel. European retail developers and operators will be examined for the first time
ICSC Retail Strategy & Trends Forum ................................ 84 The event takes place in Milan on November 27 and 28
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Sans esprit BY Reinhard Winiwarter, IMAGE: sma
When the entire European shopping center industry meets in Cannes this year, there will be lots of back patting. Although there is little doubt that many of the show’s participants seriously and critically examine their own actions and key industry themes and trends,. others will stride through the Palais de Cinéma betraying a high. level of complacency. They will rave about the flexibility, innovation, and the spirit of the shopping center industry. To be fair, that does seem partially justified in a few cases, at least. In general, however, I have to say that “Europe’s” handling of commercial property. unfortunately seems to be backward-looking rather than forwardlooking. Innovation is the exception rather than the rule. At a time when life, living conditions, lifestyle, and consumers’. shopping habits are changing drastically, the shopping center. industry is ready with only one answer: always more of the same. “A fish rots from the head,” as they say. Driven by capital and benchmarks, the investor tanker plots a leisurely course on the high seas. Short-term maneuvers are difficult to accomplish due to inertia, risk aversion, and ever longer development cycles. At best, innovations are taken on when they have been tested and found to be good. elsewhere first. The basic premise of shopping center development thus still seems to be the “largest possible lettable area.”
“To be honest: raising the proportion of gastronomy areas in a center hasn’t been ‘innovative’ in a long time – it’s more of a necessity.” Positive approaches – such as improved service quality and service levels – ought now to be taken for granted. To be honest: raising the proportion of gastronomy areas in a center hasn’t been “innovative” in a long time – it’s more of a necessity.
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reinhard Winiwarter Publisher of ACROSS Magazine and Managing Director of sma
The innovation somnambulism is particularly clear when the. shopping center industry is compared with retail. By the time new ideas, formats, and channels pioneered by retailers have become anchored in the minds of the industry, they have long since become old hat. The tanker steers onto a seemingly promising course only occasionally. I am fully thrilled by the isolated attempts of a few. companies to redefine the shopping center of the future as a lifestyle center with municipal functions. After all, those who want. consumers to spend quality time in a center must ultimately provide more than a contiguous block of lettable space. Shopping nowadays is no longer just shopping. And the time when shopping centers could be developed with impunity without engaging with consumers is over. What is your opinion on this topic? Discuss it with us! Send your opinion to opinion@across-magazine.com!
Growing retailer demand for designer outlets By Alice Breheny, Image: TIAA Henderson Real Estate
Alice Breheny
Designer outlets have been one of the most widely misunderstood, but strongest performing, real estate sectors in Europe over the. past decade. The strong consumer demand for the outlet sector is reflected in the high levels of footfall, extensive catchment areas, and strong sales densities. In turn, strong occupier demand accounts for very high occupancy rates across quality outlets: Tier 1 assets have an average vacancy rate of just 2%.
“There has recently been an influx of North American retailers opening outlet stores across Europe and Asia, including Michael Kors, Abercrombie & Fitch, True Religion, Coach, and Fossil.” The outlet mall sector is one of the few parts of the property market to deliver consistent positive rental growth over the last few years. The key contributor to this growth is increasing demand from. retailers – a trend that has not been felt across the wider retail. sector – and constrained supply of quality assets. Many retailers. re-assessing their expansion targets are looking at outlets more. closely. Outlets tend to offer a lower-cost entry point. This has. boosted demand, especially from retailers trying to establish a. footprint in a new market. The turnover leases standard at outlet centers provide retailers with the comfort of affordability, especially during difficult economic. periods. This leasing model will continue to support tenant demand for the sector and builds a strong relationship between the landlord, operator, and retailer to work collaboratively, aligning their interests. There has recently been an influx of North American retailers opening outlet stores across Europe and Asia, including Michael Kors,. Abercrombie & Fitch, True Religion, Coach, and Fossil. More. established outlet mall traders such as Tommy Hilfiger, Nike, Prada, and Hugo Boss have been keen to enlarge their stores, creating big “destination” stores. Other retailers actively seeking to expand their outlet portfolios include Furla, Armani, Desigual, and North Face.
Global Co-Head of Research at TIAA Henderson Real Estate
While there has been a steady growth in retailers with requirements for the outlet sector, as with all segments of the retail market, demand is focused on prime, quality assets. The outlet leasing model is characterized by shorter leases than. mainstream shopping centers, turnover rents, and varied levels of flexibility for both landlords and tenants. This has traditionally deterred investors, put off by the short leases and potential volatility of income. But the reality is that rents cannot fall below the previous year’s. level and all the volatility is on the upside. Turnover leases ensure. affordability for retailers at outlets and occupancy cost ratios for. tenants are typically much lower than at full-price shopping centers. At a time when wider economic performance cannot be relied upon to drive retail property performance, the role of asset management is vital and we believe the outlet leasing model is more conducive to growth than its shopping center counterpart. Performance break clauses and shorter leases mean underperforming tenants can be. removed quickly, while units can easily be re-sized or retailers. relocated. Greater flexibility in leases means that operators and. landlords can respond to retailers’ specific local requirements. The turnover lease aligns the landlord’s interests with the retailers’ to optimize performance; slowing growth in retail sales encourages. retailers to re-fit stores and landlords to increase marketing. expenditure. Given that the retail market is prone to rapid change,. flexibility within the outlet leasing model allows assets to respond quickly to changing conditions, improving their chance of. outperformance. What is your opinion on this topic? Discuss it with us! Send your opinion to opinion@across-magazine.com!
5 | 2014 ACROSS 5
Image: ÖBB / Roman Bönsch
AUSTRIA
BahnhofCity Wien Hauptbahnhof opens Just three subway stops from the center of the Austrian capital, Vienna’s Central Station (Hauptbahnhof) will handle the city’s entire long-distance train service from December 2015. The transportation hub is more than just the start or end point of a rail journey: The integrated shopping center called BahnhofCity Wien Hauptbahnhof, launched on October 10, 2014, is now an attractive shopping and leisure hangout. After commissioning ECE with the leasing and center management of BahnhofCity Wien West, the Austrian Federal Railways (ÖBB), the developer of this major infrastructure project, has once again awarded the leasing and center management of BahnhofCity Wien Hauptbahnhof to its expert partner. Customers at BahnhofCity Wien Hauptbahnhof enjoy around 90 shops on approximately 20,000 sq m of retail space. ECE’s experts specifically considered the wishes of rail customers, residents, visitors, and tourists when selecting tenant partners. The newly created marketplace will provide them with all the services, foodservice, and travel supplies they need. In addition, a great deal of focus was laid on fashion: The approximately 10,000-sq-m fashion area consists of renowned international top labels such as Desigual, Camp David, Hervis, Calzedonia, Tezenis, Intimissimi, New York, Vero Moda, and Zero.
ROMANIA ParkLake, a Sonae Sierra and Caelum Development project located in Bucharest’s third sector, has just signed a contract with Carrefour for the ownership and operation of a hypermarket store in its mall. Carrefour thus proves its strong engagement and belief in the success of the project, on which works began in January of this year and its opening scheduled for 2016. At the same time, ParkLake is making great progress in leasing, with other key brands having signed and/or committed about 65% of GLA at present. Fernando Guedes de Oliveira, Sonae Sierra’s CEO, says: “The contract signed with Carrefour reinforces ParkLake’s quality offer. We are very happy to have the professional and internationally recognized retailer Carrefour as a key anchor and partner in the project. We have been working very successfully on ParkLake’s tenant mix and more advances in this area will soon be public, all of which will reinforce the flagship nature of this development.” The shopping center represents a €180-million investment. It will offer high-quality retail on 70,000 sq m of GLA with around 200 shops and 2,600 underground parking spaces. The mall will offer a unique, environmentally friendly design and a distinctive mix of leisure and sports features connected with the adjoining Titan Park.
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Image: Sonae Sierra
A Carrefour for ParkLake
Image: Wereldhave
FRANCE
Wereldhave buys from Unibail-Rodamco In early September, Wereldhave announced it was withdrawing from Spain. In mid-October, the Dutch company revealed further news: It is purchasing six shopping centers in France for around €850 million from Unibail-Rodamco. With this deal, Wereldhave took a decisive step towards realizing its strategy of becoming the leading specialist in mid-sized shopping centers in northwestern Continental Europe. The portfolio consists of high-quality midsize shopping malls with a net initial yield of 5.5%, contributing immediately to Wereldhave’s earnings. The company intends to finance the acquisition via a rights issue of up to €550 million, available cash of around €150 million, and existing debt facilities. The proposed rights issue will be submitted to shareholders for approval at an extraordinary general meeting that will be held on November 28, 2014 in Amsterdam. The six shopping centers are Rivetoile (28,400 sq m GLA) in Strasbourg, Docks 76 (37,600 sq m GLA) and Saint Sever (45,400 sq m GLA) in Rouen, Meriadeck (photo) (39,500 sq m GLA) in Bordeaux, Côté Seine (28,900 sq m GLA) in the Paris region, and Docks Vauban (53,500 sq m GLA) in Le Havre.
GERMANY Rockspring completes acquisition of Helvetia Parc in record time Rockspring Property Investment Managers has acquired Helvetia Parc, a 30,000-sq-m retail park in Groß-Gerau, 30 kilometers outside of Frankfurt, on behalf of TransEuropean Property V for €41.65 million. Rockspring was able to complete the transaction within three months of first meeting the vendor, a major global real estate company. The retail park, which was built in 2008 and has parking for 900 cars, is anchored by a Toom home improvement store. Ulf Christiansen, head of acquisitions for Rockspring in Germany said: “This core-plus property offers us an excellent, secure cash flow opportunity, as well as attractive asset management potential to grow rents by letting vacant units and improving the tenant mix. We are confident that we will be able to exceed the financial targets we have set and can maximize the potential of Helvetia Parc with our experience and expertise.” The addition of Helvetia Parc brings TransEuropean V’s portfolio in Germany to six properties, with a total value of c. €135 million. Further investment in Germany and across Europe is expected in the coming months and the Fund is on target to achieve full investment by the end of 2014, with a total gross value of approx. €700 million.
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Cover story
More exquisite, spectacular, and sophisticated: the projects presented by the top players at MAPIC. The top players in the industry are unveiling their current shopping center projects in Cannes again this year, as they have for many years now. The journey from stand to stand among the most outstanding developments presented at MAPIC promises excitement and variety. In addition to new malls, refurbishments and extensions will be presented at the International Commercial. Property Exposition.
Focus on US and China On this, its 20th anniversary, MAPIC is focusing on two leading territories in the retail property sector: the United States and China – including with regard to project pipelines. Natahlie. Depetro, the event’s director, explains: “The United States has been represented at MAPIC since it first began and has been both a pacesetter and a leader in retail property and.
8 ACROSS 5| 2014
distribution for decades. Experts anticipate that there will be even greater opportunities in this country in the coming years. China, which began attending the event more recently, is growing at an exponential rate. It will be a focus of attention this year due to the rise of digital commerce and to the shopping center fever that has taken hold of Chinese developers.” The developer American Management will unveil its American Dream project. Billed as the world’s largest shopping center, with a surface area of over 720,000 sq m, this site is expected to. attract 40 million visitors a year (see page 42). China, itself a retail property market giant, will. be represented at MAPIC 2014. One of the. companies there will be Jihua, which will present its broad portfolio of preferred sites for shopping and leisure – including Jihua Park Changchung (see page 40).
BELGIUM Mall of Europe
Image: Unibail-Rodamco
Unibail-Rodamco has been selected by the City of Brussels, with its partners CFE and BESIX, as the new co-developer of the NEO 1 project. This mixed-use project encompasses 590 housing units, two day nurseries, 3,500 sq m of offices, a retirement home and a 112,000-sq m area dedicated to leisure, restaurants, and retail to be called the Mall of Europe. Unibail-Rodamco will develop and operate the €550-million Mall of Europe, with 230 units, four-star services, iconic shopfronts, a 9,000-sq-m Dining Experience with 30 restaurants, the largest cinema in Belgium with 4,000 seats and the first indoor “Spirouland” in the world at the heart of a 15,000-sq-m leisure center. The project, expected to open in 2021, aims to attain a BREEAM Excellent certification.
Riviera Opening in the fourth quarter of 2015, the 97,000-sq-m Riviera center is situated on Moscow’s Third Ring Road, giving it access to more than 3.7 million people within a 30-minute radius. Footfall is expected to reach 55,000 visitors per day. The three-story scheme will house more than 300 shops, cafes, and restaurants, as well as underground parking for 3,000 cars. Anchor tenants already in place include an O’KEY hypermarket and an Azbuka Vkusa supermarket. The tenant mix will encompass sports, products for children, electronics, and home appliances. In addition, there will be a multiplex cinema and kids’ entertainment center.
Image: Praktika Development
RUSSIA
Cover story
USA Triple Five is the owner and developer of the two largest mixed-use properties in the world – West Edmonton Mall and Mall of America. Now it is planning an unparalleled global destination just five miles from Manhattan. The 250,000-sq-m American Dream will feature over 400 retail, restaurant, and service locations including a DreamWorks theme park & water park; a Big Snow America indoor ski and snowboard park; the DreamView observation wheel; a walk-through aquarium; an indoor ice rink; luxury movie theaters; a Legoland discovery center; an FAO Schwartz flagship store; a $130 million (€102 million) Cirque du Soleil theater featuring 1,800 seats and a new show; stores for Saks Fifth Avenue and Lord & Taylor; 2,000 hotel rooms; and convention facilities.
Image: TIAA Henderson Real Estate
UNITED KINGDOM Edinburgh St James
Image: United Developers
TIAA Henderson Real Estate’s £850 million (€1.06 billion) Edinburgh St James development is one of the biggest mixed-use regeneration projects currently underway in the UK. On completion, Edinburgh St James will comprise 93,000 sq m of prime retail, food, and leisure space and will be anchored by John Lewis. It will include one high-end hotel, up to 250 new homes, and will generate up to 3,000 permanent jobs. Edinburgh St James will strengthen Edinburgh’s reputation as a vibrant and leading capital city, extend the city center’s retail pitch, and help Edinburgh rise six places in the UK retail rankings to seventh overall. As a World Heritage site with solid transport links and a tourism trade second only to London (generating spend of £260 million each year), Edinburgh St James will put Edinburgh on the international map as a global retail and leisure destination. Cushman & Wakefield is advising the developer.
QATAR Place Vendôme Place Vendôme is currently under development in Qatar’s emerging Lusail City with a total construction area of close to 800,000 sq m. It will feature retail, leisure, entertainment, and luxury spaces packaged into a one-stop family destination by the sea. Situated eleven kilometers from the center of Doha, the mixed-use development will host two five-star hotels, serviced apartments, up to 400 different retail outlets and a central entertainment component. In addition, the retail portion of the development will boast an exclusive section dedicated to unrivaled luxury, featuring the most elite brands. Place Vendôme is set to become a new destination for the region, slated for opening in the third quarter of 2017.
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Image: Triple Five
American Dream
Image: Regions Group
RUSSIA Nagatinskaya Poyma Park Located in Moscow’s Southern Administrative District, Nagatinskaya Poyma Park will be a mixed-use complex featuring a year-round DreamWorks theme park, a concert hall, a yacht club, a themed retail area, movie theaters, cafes and restaurants, and a landscape park. The outdoor area will feature a Ferris wheel providing a panoramic view of the Moskva River. With convenient transport accessibility, daily visitor traffic at the complex is expected to reach 70,000 people.
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UNITED KINGDOM Watermark Westquay
Image: Hammerson
Hammerson has started assembling the leisure line-up for Watermark WestQuay, its £70 million (€87 million) development in Southampton. It has already secured National Amusements’ luxury cinema brand Showcase Cinema de Lux for a proposed 10-screen digital cinema. The project will also include 20 new restaurants and an exceptional new piazza for the city. Work on Watermark WestQuay started on site in autumn 2014 with the development opening in autumn 2016.
FRANCE Jeu de Paume With a GLA of 24,000 sq m, 86 shops and restaurants, and 830 parking spaces, Hammerson’s new Jeu de Paume shopping center will open its doors in Beauvais in September 2015. This new mall in northern France will be exceptionally accessible, as it is located at the heart of a region with 250,000 inhabitants. Among other brands, it will welcome Carrefour Market, H&M, Sephora, and Le Furet du Nord.
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The extensive refurbishment of City-Passage in Bielefeld is progressing rapidly. The center was
opened in 1977, acquired the “ECE European Prime Shopping Fund” 2011,owners and has SES specialises in developing and by managing first-class shopping centers in the bestCentre locations – as in property or for investors. From center and asset management to executing largegallery construction projects, SES offers the whole range been under ECE management since through then. The shopping will be converted of services. Metropolitan, vibrant and popular shopping destinations as timeless, modern marketplaces with the very highest PIC into aenvironment, unique, modern starting late story summer 2015. Indecades. spring Currently 2017, the us at MA quality these are center the result of a success stretching over SES manages 28 sites Visitand ll R 33.12 is120 heading for further expansion.will Thispresent goes handapproximately in hand with our 100 experience, andof responsibility. million euro project shopssolid on connections a sales area iera Ha
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DeVeLOPMenT Karl Reinitzhuber, head of mfi, about his interaction with Unibail-Rodamco CenTeR MAnAGeMenT How TGM’s transfer of know-how to north Africa works CiTY RePORT PRAGUe The market in the Czech capital has been picking up since 2013
09.09.14 12:43
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ACROSS Strategic Partners - Our direct line to the industry Many industry players, experts, and leading companies in the retail real estate sector have supported us in word and deed in the preparation of this edition of ACROSS. We would like to take this opportunity to thank all of our strategic partners, guest authors, and suppliers of ideas, without whom it would be nearly impossible to create this informative magazine and make it so relevant to the industry.
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ATP ARCHITECTS ENGINEERS
Innsbruck, Vienna, Munich, Frankfurt, Zurich, Budapest, Zagreb, Moscow
Heiliggeiststr. 16, A-6020 Innsbruck, Austria Phone: +43 512 5370 - 0 Fax: +43 512 5370 - 1100 Email: info@atp.ag www.atp.ag Blachere illumination Zone industrielle, F-84400 Apt, France Phone: +33 4 90 74 20 95 Fax: +33 4 90 74 14 63 Email: sales@blachere-illumination.com www.blachere-illumination.com
Branddesigners Rotenturmstrasse 17/10-12 A-1010 Vienna, Austria Phone: +43 1 533 32 60 55 Fax: +43 1 533 32 60 10 Email: office@brand-designers.com www.brand-designers.com
CBRE Global Investors Schiphol Boulevard 281, G-tower, 8th floor 1118 BH Schiphol, The Netherlands Phone: +31 20 202 2200 www.cbreglobalinvestors.com *As of 30 June 2012
Christmasworld Messe Frankfurt Exhibition GmbH Ludwig-Erhard-Anlage 1 D-60327 Frankfurt am Main, Germany Phone: +49 69 75 75 - 0 Email: christmasworld@messefrankfurt.com www.christmasworld.messefrankfurt.com cineplexx international Mag. Christof Papousek Geschäftsführer|CFO Constantin Film-Holding GmbH Cineplexx Kinobetriebe GmbH Siebensterngasse 37, A-1070 Wien, Austria
Cogest Retail srl via G.B. Pergolesi 20124 Milano, Italy Phone: +39 02 91278 / 02 49585 Fax: +39 02 61290784 www.cogestretail.com
Coverpoint Foodservice Consultants The Barn, 11 Waltham Court Milley Lane, Hare Hatch, Reading RG10 9AA, United Kingdom Phone: +44 18 940 5266 Fax: +44 118 940 5277 Email: commitment@coverpoint.co.uk www.coverpoint.co.uk
ATP architects engineers is one of Europe’s largest and most renowned Integrated Design offices. It employs 450 people in 8 subsidiaries in Germany, Austria, Switzerland and CEE. As specialists in retail and entertainment buildings, ATP aims to create inno vative and intelligent solutions of sustainable quality. Integrated Design has been the company’s core competence for 35 years. Experienced interdisciplinary teams plan simultaneously in virtual models. They handle all architectural design and engineering tasks of a construction project. Blachere Illumination is a company specializing in the illumination of towns, shopping centers and private places for the end of year festivities. It offers a wide range of LED light decorations: luminous garlands, curtain lights, street decorations … It promotes future technology of energy efficiency and places the highest importance on research and development. With forty years of experience on lighting markets, we have worked in the widest possible range of environments, for both urban space and private setting.
Design is our passion! Branddesigners is a company, which is specialized in shopping center refurbishment and retail design for more than 12 years. The key to each of our projects is a unique and creative idea: we believe that every shopping center must be a distinctive, recognizable landmark. We use cutting-edge computer technologies to create our visions and analyse each concept – using eye-tracking to evaluate both the current state, as well as the after-effects of our implementations. Together with a team of experts, we develop tailor-made solutions for our customers and handle the development of the project from the initial idea through to its completion.
CBRE Global Investors is a global real estate investment management firm with EUR 72 billion in assets under management*. The company sponsors investment programs across the risk/return spectrum for investors worldwide. The CBRE Global Investors EMEA platform, with EUR 28,2 billion of assets under management* is one of the largest and most diversified real estate investment management business. The platform has offices in 15 countries, managing investments in 17 countries across Europe. For more information please visit www.cbreglobalinvstors.com
Christmasworld – Seasonal Decoration at its best – is the leading international trade fair for festive decorations. Exhibitors from all over the world present the latest trends and products for all festive occasions of the year – including innovative concepts for decorating large spaces and outdoor areas, such as shopping centres – in Frankfurt am Main from 30 January to 3 February 2015.
Cineplexx Kinobetriebe GmbH was founded in 1993 as a 100% subsidiary of Constantin Film-Holding GmbH which belongs to the Austrian family Langhammer. Cineplexx emerged in the transition phase during the 1990s when traditional cinemas were closed and multiplex cinemas entered the market. Since 2008 the group has bundled its international business activities under Cineplexx International ltd. It runs 35 cinemas with 235 screens in total, across Austria, Croatia, Serbia, Montenegro and Northern Italy. Total sales reached 120 Mio. euros in 2011 with about 1.100 employees. Cogest Retail is a consultancy company specialized in leasing and management of shopping centers, independent retail projects and multi-use complexes. The company has 20 years of experience and a retail portfolio of over 45 projects in Italy under its belt. Cogest assists investors and participates in all of the stages of shopping center development: geo-marketing, market research, planning phase, concept studies, tenant mix, leasing and public relations. Tower Center Rijeka is currently the only project outside Italy, Cogest Retail aim to significantly expand activities in Croatia and across the South East Europe region. With a team of 150 highly skilled professionals, Congest offers valuable assistance with acqui sition, construction, development, commercialization and management of real estate.
Coverpoint are an International Foodservice Consultancy. Since 1993 we have been creating for our Clients, outstanding Retail and Shopping Centre Food Experiences. From Fast Food and innovative Foodcourts to the latest Casual Dining clusters, we provide Developers, Landlords, Shopping Centre Managers and Owners with the best advice on ‘how to do food’. We carry out feasibility studies, market analysis, capacity planning and foodservice spatial design. We bring all these skills together as part of your Team to ensure that your Food & Beverage Experience is perfectly matched to your guest’s needs. We do Food! Call us to find out how we can help you.
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ece Projektmanagement G.m.b.h. & Co. KG Heegbarg 30, D-22391 Hamburg, Germany Phone: +49 40 60606 - 0 Fax: +49 40 60606 - 6230 Email: info@ece.com www.ece.com EHI Retail Institute Spichernstr. 55 D-50672 Köln, Germany Phone: +49 221 579 93 -32 Fax: +43 221 579 93 -45 info@ehi.org www.ehi.org
EHL Immobilien GmbH Prinz-Eugen-Strasse 8-10, A-1040 Vienna, Austria Phone: +43 1 512 76 90 Fax: +43 1 512 76 90 - 890 Email: office@ehl.at www.ehl.at
First Christmas by ROSENAU GmbH Blankeneser Bahnhofstr. 7, D-22587 Hamburg, Germany Phone: +49 (0)40 86 64 875 - 0 Fax: +49 (0)40 86 64 875 - 60 Email: mail@firstchristmas.com www.firstchristmas.com FOUNDATION RECRUITMENT UK LTD 33 Cavendish Square W1G 0PW, United Kingdom Phone: +44 207 484 5086 Email: info@foundationrecruitment.co.uk www.foundationrecruitment.co.uk
German Council of Shopping Centers e. V. Bahnhofstrasse 29 D-71638 Ludwigsburg, Germany Phone: +49 7141 38 80 - 83 Fax: +49 7141 38 80 - 84 Email: office@gcsc.de www.gcsc.de GfK GeoMarketing GmbH Werner-von-Siemens-Str. 9, Building 6508 D-76646 Bruchsal, Germany Phone: +49 7251 9295 100 Fax: +49 7251 9295 290 Email: info@gfk-geomarketing.com www.gfk-geomarketing.com
Global Real Estate Institute (GRI) 10 Melton Street, London, NW1 2EB, UK Phone: +44 20 7121 5060 Fax: +44 20 7388 8740 Email: Info@globalrealestate.org www.globalrealestate.org
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ECE develops plans, builds, leases out, and manages shopping centers since 1965 and is active in 17 countries. The company is European market leader with 189 managed shopping centers. On an overall sales area of 6 million m2, about 17,500 retail businesses generate 21 billion euros in annual sales. Another 14 shopping centers are currently under construction or planned throughout Europe.
EHI is the scientific institute of the German retail industry. The members of EHI include German and international retail companies and their industry associations, manufac turers of consumer and investment goods and various service providers for retail like real estate developers and shopping-center management firms. We research topics relevant to the future of retailing, organize conferences and working groups, operate our own publishing house (e.g. The EHI Shopping-Center Report), and are partners to Messe Düsseldorf in staging the EuroShop, the world's biggest trade fair of investment goods for retail business.
EHL Real Estate Group is one of the leading real estate service providers in Austria and the market leader in the fields of commercial and residential real estate as well as investment properties. Its business activities range from property marketing, property valuation, asset and portfolio management, center management to market research and investment consultancy.
First Christmas by ROSENAU GmbH one of Europe’s leading suppliers of Christmas decorations. We offer a full service including design, production and installation of top quality modern and traditional d ecorations. Our expertise and products are being implemented across the continent and in the Near East.
Foundation Recruitment is Europe’s leading, professional recruitment expert within the field of international shopping centre management. We are the only real estate recruitment business with a specialist team entirely dedicated to the shopping center sector. Our passion, commitment and cross border reach enables us to offer our global clients unrivalled knowledge, understanding and insight. Our extensive network provides us with considerable access to the worlds most talented shopping center professionals. Working across both enclosed and open air assets, our activities sit at the very heart of the modern day, dynamic shopping centre arena. Our instructions and areas of professional expertise range across on site mall management, leasing, asset management and development.
The German Council of Shopping Centers, GCSC, represents the interests of over 770 member companies in the shopping center and commercial real estate industry, including operators and developers, trade representatives, service providers, consultants, investors, and other companies.
GfK GeoMarketing is one of Europe’s largest providers of geomarketing services and products. Our business areas include: Consultancy and research expertise, Market data, Digital maps, RegioGraph. GfK GeoMarketing is a subsidiary of GfK, one of the world’s largest and most renowned market research companies. Drawing on this international network of wide-ranging resources and expertise, GfK GeoMarketing promotes business success and “growth from knowledge”.
The GRI is a global club of senior real estate investors, developers and lenders. Its mission is to help its members build personal relationships and work together in creating rewarding opportunities. The GRI runs its activities through a collection of annual meetings focussed on different regions of the world since 1998. If building close relationships with the driving elite of the real estate industry at the most senior levels can be useful, we welcome you to join us.
ICSC Europe 29 Queen Anne’s Gate, London SW1H 9BU, UK Phone: +44 20 7976 - 3100 Fax: +44 20 7976 - 3101 Email: icsc.europe@icsc.org www.icsc.org IMMOFINANZ Group Wienerbergstraße 11, A-1100 Vienna, Austria Phone: +43 1 88 090 Email: communications@immofinanz.com www.immofinanz.com
KlÉpierre 21 avenue Kléber, F-75116 Paris, France Phone: + 33 1 40 67 57 40 Fax: + 33 1 40 67 55 62 www.klepierre.com
Kundörfer Consulting GmbH Frankenweg 5, A-8051 Thal-Graz, Austria Phone: +43 316 / 581 822 Fax: +43 316 / 570 550 Email: office@kundoerfer.com www.kundoerfer-consulting.com MAPIC The international market for retail real estate Phone: +33 1 79 71 90 00 www.mapic.com
MEC METRO-ECE Centermanagement GmbH & Co KG Am Albertussee 1 D-40549 Düsseldorf, Germany Phone: +49 211 30153-0 Fax: +49 211 30153-450 Email: info@mec-cm.com www.mec-cm.com
Messe Frankfurt Messe Frankfurt Exhibition GmbH Ludwig-Erhard-Anlage 1 D-60327 Frankfurt am Main, Germany Phone: +49 69 75 75 - 0 Email: info@messefrankfurt.com www.messefrankfurt.com MFI mfi management für immobilien AG Bamlerstrasse 1, D-45141 Essen, Germany Phone: +49 201 820 810 Fax: +49 201 820 81 11 Email: mfi.essen@mfi.eu
The International Council of Shopping Centers is the global not-for-profit trade association for the shopping centre industry with over 60,000 members from more than 80 countries worldwide. Our members include Owners / Developers, Retailers, Investors, Architects, Shopping centre managers, Retail consultants and other real estate professionals.
The IMMOFINANZ Group is one of the five largest listed property companies in Europe. The company comprises 1,678 standing investments with a carrying amount of approx. EUR 8.5 billion. The core business of IMMOFINANZ covers the acquisition and management of investment properties, the realisation of development projects and the sale of objects in the retail, office, logistics and residential segments. More: www.immofinanz.com
A leading shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills.Its portfolio is valued at 16.2 billion euros on June 30, 2013 and essentially comprises large shopping centers in 13 countries of Continental Europe.Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. The largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.9%). Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes.
Building upon years of international experience in retail and extensive location expertise for many CEE/SEE countries as well as Austria and Germany, Kundörfer Consulting advises its customers on all retail expansion and retail property questions. Targeting retailers and companies active in the real estate market, Kundörfer Consulting offers both solutions for strategic issues and their implementation.
MAPIC (www.mapic.com/en/the-event/history/) is the key meeting point for 2,430 retailers looking for partners, and 2,300 property developers and owners looking for retailers to enhance their sites. MAPIC delivers 3 days of tailored meetings, expert-led conferences and a premium exhibition for industry leaders targeting all types of retail property and brings together 8,200+ participants from 69 countries. The 20th edition will take place at the Palais des Festival of Cannes, France, from 19-21 November 2014.
MEC METRO-ECE Centermanagement GmbH & Co. KG is a joint venture of METRO GROUP and ECE. MEC is Germany’s leading centre management company for retail warehouse oriented shopping centres. It is responsible for managing, operating, leasing, developing and marketing of currently 41 shopping centres in Germany. At the centres, with approximately 820 tenants generate a yearly turnover of around € 2.7 billion over an area of more than 1 million sqm. Around 150 employees work for MEC, whose company headquarters are in Düsseldorf.
Messe Frankfurt is one of the world's leading trade fair organisers. 578,000 square metres of exhibition ground are currently home to ten exhibition halls and two adjacent congress centres. Events “made by Messe Frankfurt” take place at more than 30 locations around the globe and cover the fields of consumer goods & leisure, textiles & textile technologies, technology & production, mobility & infrastructure and entertainment, media & creation.
The mfi management fuer immobilien AG (mfi) was founded in 1987 and is the second largest German shopping centre company. Since 2012, mfi partners with UnibailRodamco (Paris), Europe’s largest listed real estate company. With the joint partnership mfi/Unibail-Rodamco pursue a structured growth of their portfolio and aim specifically at expanding their market presence in Germany. With over 500 employees in Germany mfi/Unibail-Rodamco covers the entire value chain from project development, planning and construction services up to long-term facility and asset management as well as portfolio construction. Additional services include refurbishment and project management. The Essen-based company currently operates on 26 shopping centers, with six of them in its own portfolio. In addition, mfi/Unibail-Rodamco has three shopping center projects in development, namely in Osnabrueck, Recklinghausen and Moenchengladbach. These owned asset projects focus on creating a unique customer experience and innovative customer service measures. Overall, the mfi AG manages approximately 3,000 retail leases.
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MK Illumination Trientlgasse 70, A-6020 Innsbruck, Austria Phone: +43 512 20 24 30 - 0 Fax: +43 512 20 24 33 Email: t.mark@mk-illumination.com www.mk-shoppingcenter.com
NEINVER
France, Germany, Italy, Poland, Portugal, Spain
Calle Francisca Delgado nº 11 5º Planta (Núcleo 2), 28108, Madrid Phone +34 91 490 22 00 Fax +34 91 490 23 01 communication@neinver.com www.neinver.com
PayLife Bank GmbH Marxergasse 1B, A-1030 Vienna, Austria Phone +43 1 717 01 - 0 Fax: +43 1 717 01 - 3000 www.paylife.at
NEINVER is a leading international property company that focuses its business on property development, asset management and fund management. With more than 40 years of experience, NEINVER has reinforced its position in the European market by managing 15 outlet centres with a total of 311,600 sq m of GLA, under the FACTORY and The Style Outlets brands. NEINVER is now the second-largest operator of outlet centers in Europe (2012 ICSC ranking) and the company has being recognized by main inter national brands as the second outlet manager to trust in (FOC Performance Report Europe 2013). NEINVER manages the IRUS European Retail Property Fund and nearly 500,000 sq m of retail space, 2,000 shops and 900 of the finest brands in Spain, France, Italy, Germany, Portugal and Poland.
PayLife is the market leader and number one choice for cashless payments in Austria. PayLife is synonymous with convenient, simple and secure card payments as well as customer focus and innovation. Whether credit- and prepaid card, POS Terminal, e-commerce or Quick, the Electronic Purse, PayLife offers individual and comprehensive products to meet all needs. With PayUnity, PayLife is the only provider for e-commerce and POS payments from one source. In 11 countries PayLife offers its customers total solutions for all branches. PayLife. Bringing life to your card.
Redevco B.V. Wibautstraat 224 1097 DN Amsterdam, The Netherlands Phone: +31 20 599 6262 Fax: +31 20 599 6263 Email: info@redevco.com Twitter: @Redevco www.redevco.com
Redevco is an independent, pan-European real estate investment management company specialised in retail property. The more than 500 assets under management are spread across the strongest retail concentrations in the UK, France, Belgium, the Netherlands, Germany, Spain, Portugal, Switzerland and Austria. At present we offer real estate solutions for more than 1,000 retailers.
Reinhard Winiwarter Winery Obere Hauptstrasse 19, A-3552 Stratzing/Krems Business Adress: Rotenturmstrasse 17, A-1010 Vienna, Austria Phone: +43 1 533 32 60 Fax: +43 1 533 32 60 10 Email: office@rw-winery.com www.rw-winery.com
We like authentic, pure, and simple things. This awareness flows into all our wines. In a world that is increasingly complex, we stand for an emphasis on fine, regional characteristics, as well as simple and concise product design.Grüner Veltliner is our most important variety and it is our main focus. Zweigelt and Chardonnay round out our portfolio.
SES Spar European Shopping Centers GmbH Söllheimer Strasse 4, A-5020 Salzburg, Austria Phone: +43 662 4471 0 Fax: +43 662 4471 7199 Email: office@ses-european.com www.ses-european.com
SES – No. 1 in Austria and Slovenia – is specialized in developing, constructing and managing first-class retail real estate at an international level. The company provides complete service from development to center management in Central, Southern and Eastern Europe. Shopping malls managed by SES are among the very best the industry has to offer.
sma standort marketing agentur gmbH Rotenturmstrasse 17, A-1010 Vienna, Austria Phone: +43 1 533 32 60 - 0 Fax: +43 1 533 32 60 - 10 Email: office@sma-austria.at www.sma-austria.at
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At MK Illumination we aspire to create exceptional conceptual festive lighting for our partners. Our commitment to design, innovation, technical excellence and sustainable solutions coupled with our local knowledge and a global outlook allows us to create tailored, specially handcrafted illumination to suit our client’s exact wishes and thus strengthen their brand and image. In keeping with its philosophy of being a regional company with a global reach, MK Illumination maintains independently run subsidiaries in 28 countries, allowing each business to benefit from local knowledge, customs and networking. The company provides a comprehensive service in three main areas: Retail Real Estate, Leisure and Public Spaces. We have a passion for enlightening your vision! For further information visit us at: www.mk-illumination.com
We specialize in fulfilling the marketing and communication needs of retail and commercial real estate. Our scope comprises project development services as well as drafting and implementation of marketing and communications for operational properties. Our goal is to turn retail locations into strong and appealing regional brands.
sonae sierra Lugar do Espido,Via Norte 4471-909 Maia, Portugal Phone: +351 22 948 7522 Email: global@sonaesierra.com www.sonaesierra.com
TIAA Henderson Real Estate 201 Bishopsgate, London EC2M 3BN Phone: +44 20 3727 8000 Fax: +44 20 3727 8001 Email: Gemma.Bradley@threalestate.com www.threalestate.com
All figures as at 31 December 2013.
TriGranit Management Corporation Váci út 3. 1062 Budapest, Hungary Phone: +36 1 374 6516 Fax: +36 1 374 6571 Email: info@trigranitmanagement.com www.trigranitmanagement.com
ULI – Urban land institute Germany/Austria/Switzerland
Europa-Allee 22 D-60327 Frankfurt am Main, Germany Phone: +49 696 062 7181 Fax: +49 69 768 067 9181 Email: info@uli-germany.de www.uli-germany.de
Union Investment Real Estate GmbH Valentinskamp 70 / EMPORIO D-20355 Hamburg, Germany Phone: +49 40 34 919-0 Fax: +49 40 34 919-4191 Email: service@union-investment.de www.union-investment.de/realestate
Zumtobel Licht GmbH Donau-City-Strasse 1, A-1220 Wien, Austria Phone: +43 1 258 26 01 - 0 Fax: +43 1 258 26 01 - 982 845 Email: welcome@zumtobel.at www.zumtobel.at
Sonae Sierra is the international shopping centre specialist that is passionate about bringing innovation and excitement to the shopping industry. Our integrated approach to the shopping center business includes the ownership, development and management activities. This strategy allowed us to develop a recognized unique know-how which we use for our shopping centres, as well as third-parties projects and operating shopping centers.
TIAA Henderson Real Estate (TH Real Estate) is an established investment management company with specialisation in real estate equity and debt investing worldwide. As one of the largest real estate managers in the world, It has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and multi-family housing sectors, Launched in April 2014, the company has a dedicated global presence with offices across Asia and Europe, managing c.£16bn of real estate assets across c.50 funds and mandates. Its alliance with TIAA-CREF in North America increases its global AUM to c.£51bn.
TriGranit Management Corporation (TGM) is a 20 year old real estate consultancy company that is offering a wide scope of services that range from asset management services, retail property management, retail leasing, marketing, commercialisation, commercial property management, facilities management, health leisure & hospitality to detailed financials, adapted to fit the individual needs of our clients. TGM presently operates a network of 8 Central and East European (CEE) offices and in recent months has expanded to its operations to encompass the Romanian, Bulgarian, Macedonian, Armenian and Chinese markets, where it spearheads new and exciting ventures in the property sector. TGM operates in 14 different countries globally including the middle-east and China. The blend of a portfolio with almost 1 000 000 sqm of retail property under management and leasing, TGM has instructions on over €3 billion of assets in 29 current retail, office and leisure projects. TGM welcomes over 60 million visitors every year, supporting the success of more than 1,500 international tenants within the leasing portfolio.
ULI – the Urban Land Institute – is a non-profit research and education organisation supported by its members. Founded in Chicago in 1936, the institute now has over 30,000 members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines – private and public. In Europe, we have over 3,000 members supported by a regional office in London and a branch in Frankfurt for the German, Austrian and Suisse market. ULI brings together leaders with a common commitment to improving professional standards, seeking the best use of urban land and following excellent practices. ULI is a think tank, sharing knowledge through discussion forums, research and publications. By building and sustaining a diverse network of local experts, we are able to address the current and future challenges facing Europe’s cities.
Union Investment is a leading international investment company specializing in open-ended real estate funds for private and institutional investors. Union Investment has assets under management of some €23 billion in fourteen real estate funds. Active in the property investment business for 48 years, Union Investment operates today in 23 countries around the world. In addition to office space and business parks, the Hamburg-based company is investing in business hotels, logistics properties and shopping centers. Union Investment entered the retail sector at an early stage, allowing the company to secure a strategic position in this growing area. The result is a high-quality portfolio presently comprising 37 shopping centers in Germany, Austria, Sweden, Belgium, France, Poland, Italy, Spain and Turkey, with a current market value of some €6 billion.
Zumtobel, a company of the Zumtobel Group, is an internationally leading supplier of integral lighting solutions for professional indoor and outdoor building lighting applications. For more than 50 years, Zumtobel has been developing innovative, custom lighting solutions that meet extremely exacting requirements in terms of ergonomics, economic efficiency and environmental compatibility and also deliver aesthetic added value.
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