UNLOCKING THE POWER OF ASSET MANAGEMENT

Retail asset management is the art of transforming brick-and-mortar spaces into vibrant havens that captivate shoppers and transcend mere transactions.

In a world dominated by online shopping, retail and shopping centres are undergoing a transformative shift. Asset management in the retail industry goes beyond property maintenance; it’s about creating immersive experiences, engaging communities, and reinventing the shopping journey. This Q&A explores innovative strategies to revitalize shopping centres, enhance customer experiences, and thrive in a changing marketplace. Join us as we reimagine the future of shopping with Marcello Larizza, Managing Director at Pradera Vindico.

Kindly share a brief background of yourself.

I am Marcello Larizza, currently the Managing Director at Pradera Vindico, bringing over 25 years of experience in Retail Real Estate. My expertise encompasses the initial phases of shopping mall establishment, including Development, Leasing, and Management. I oversee the creation of new malls and the efficient management of existing ones. My contributions have significantly impacted the industry in Italy, Oman, and the UAE. I hold designations as Certified Shopping Centre Manager (CSM) and Certified Retail Property Executive (CRX) from the International Council of Shopping Centers (ICSC). Additionally, I have served as a

Board Member of MECS+R (Middle East Council of Shopping Centres & Retailers), reflecting my commitment to enhancing the shopping centre landscape and fostering industry growth.

What role does Asset Management play in the success of a shopping mall?

Asset management plays a vital role in the success of a shopping mall by aiming to increase its value. It involves strategic planning, identifying target markets, and implementing plans to attract and retain tenants, customers, and investors. Successful tenant management ensures a diverse mix of high-quality tenants, leading to higher occupancy rates and rental income. Financial management optimizes revenue generation while controlling costs, contributing to improved profitability. The appropriate property maintenance enhances the mall’s appeal, attracting a greater number of customers and tenants. Marketing and promotion strategies drive foot traffic and boost tenant sales. Risk management safeguards the mall’s long-term viability by addressing economic fluctuations and regulatory concerns. Asset managers focus on enhancing the customer experience through an inviting ambiance and top-notch customer service, ensuring customer retention. Lease renewals and negotiations secure favourable terms for tenants and financial performance. Monitoring performance through key indicators allows data-driven decision-making for the mall’s growth. Community engagement strengthens the mall’s image and appeal by connecting with the local community through events and partnerships.

Technology and data analytics play a significant role in modern asset management practices for mall owners. What are the keyways that technology and data analytics contribute to effective asset management?

Technology, particularly data analytics, allows mall owners to collect vast amounts of data related to customer behaviour, foot traffic patterns, and sales trends. VRDnet contributes to this data-driven approach by offering features like process flow automation, design reviews, and real-time reports. It aids landlords, architects, engineers, and project managers in streamlining operations, enhancing efficiency, and improving collaboration. While VRDnet is a valuable tool in the retail design & delivery toolkit, the greater emphasis lies on technology and data analytics as a whole. By leveraging technology, asset managers gain critical insights into consumer behaviour, which translates into more strategic decisions about tenant selection, lease agreements, and mall design.

Pradera and Vindico are prominent players in the retail asset management industry and in the Retail Design & Delivery Industry / Retail Project Management. Why did they establish a JV and how does their expertise and involvement enhance the value proposition for mall owners?

Pradera and Vindico formed a joint venture (JV) called Pradera Vindico combining expertise in retail asset management, project management, and retail design & delivery. With Pradera’s excellence in retail asset management and Vindico’s specialization in retail design & delivery and retail project management, the JV offers a wide range of competencies and a strong track record in their respective fields.

Mall owners benefit from the end-to-end solutions provided by the JV, encompassing concept design, project implementation, leasing, and ongoing asset management. This comprehensive package ensures a smooth and efficient process for mall owners.

Drawing from their experiences in global markets, Pradera Vindico brings innovative approaches and best practices to help mall owners stay ahead of the curve and adapt to changing market demands. Through our combined resources and networks, Pradera Vindico opens doors to a broader range of potential tenants, partners, and industry contacts, creating more opportunities for successful retail ventures.

Before we wrap up, is there anything else you would like to share or final words? Additionally, for individuals or companies interested in utilizing your services, could you please provide the best way for them to get in touch with you?

As mall owners ourselves, we possess an intimate understanding of the requirements and expectations of landlords. Our key strength lies in our ability to grasp the cultural nuances of the countries where we operate. To learn more about our work and stay connected with us, reach us at www.praderavindico.com