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Karl Reinitzhuber, head of mfi, about his interaction with Unibail-RodamcoHow TGM’s transfer of know-how to north Africa works

The market in the Czech capital has been picking up since 2013

DeVeLOPMenTCenTeR MAnAGeMenTCiTY RePORT PRAGUe

More exquisite, spectacular, and

sophisticated: the projects presented by the top players

at MAPiC

CONNECTWITH US.

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www.ses-european.com

Connect with us:SES Spar European Shopping Centers GmbHT: +43 662 44 71-7041, [email protected]

Connect with the Spirit of RetailingSES specialises in developing and managing first-class shopping centers in the best locations – as property owners or for investors. From center and asset management through to executing large construction projects, SES offers the whole range of services. Metropolitan, vibrant and popular shopping destinations as timeless, modern marketplaces with the very highest quality environment, these are the result of a success story stretching over decades. Currently SES manages 28 sites and is heading for further expansion. This goes hand in hand with our experience, solid connections and responsibility.

6—8 October 2014MESSE MUNICH

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Shopping | Office | Traffic | Industries

ECE Projektmanagement G.m.b.H. & Co. KGHeegbarg 30, 22391 Hamburg, GermanyPhone: +49 (0)40 60606-0, Fax: +49 (0)40 60606-6230www.ece.com, [email protected]

Beloved by BielefeldThe extensive refurbishment of City-Passage in Bielefeld is progressing rapidly. The center was opened in 1977, acquired by the “ECE European Prime Shopping Centre Fund” in 2011, and has been under ECE management since then. The shopping gallery will be converted into a unique, modern center starting late summer 2015. In spring 2017, the 120 million euro project will present approximately 100 shops on a sales area of ca. 26,000 m² in an attractive design.

Visit us at MAPIC

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The Urban Agenda – a Call to Action .................................. .6Commentary.by..Joris.de.van.der.Schueren

Sans Esprit ........................................ .8Commentary.by.Reinhard.Winiwarter

Growing Retailer Demand for Designer Outlets.......................... .9Commentary.by.Alice.Breheny

Keep Retail Moving Forward .......... .10Commentary.by.Jean-Marc.Jestin

Shopping Centers 2015 – the Urgent Search for Innovation........................11Commentary.by.Christoph.M..Achammer

It’s All about Motivation .................. 12Commentary.by.Julian.Long

Projects & Openings............................16Projects,.openings,.human.resource.announcements,.and.other.retail.real..estate.news

An Early Launch in Stuttgart .......... .26On.October.9,.ECE.opened.the.Milaneo.mall.–.half.a.year.earlier.than.planned

Construction Progressing in Gdansk ......................................... .28One.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

“Shopping by Accident” .................. .30ACROSS.spoke.with.Ikea.Russia’s.chief.Armin.Michaely.about.the.Russian.market.and.the.shopping.center.of.the.future

“We’re Createing a Better Experience for Our German Customers” ...................................... .32Karl.Reinitzhuber,.head.of.mfi.in.Germany,.explains.what.has.changed.since.Unibail-Rodamco.purchased.a.majority.stake.in.the.company

How Technological or Qualitative Improvements to a Cinema Can Raise Market Share ................................... .44A.trend.has.become.more.and.more.visible:.The.integration.of.“premium.screens”.as.an.outstanding.quality.feature.at.a.multiplex.cinema

Best Practice at Christmas ............. .46MK.Illumination’s.grottos.and.animation.concepts.make.a.dramatic.impact.and.create.steady.revenue

In the Pipeline.................................. .36More.exquisite,.spectacular,.and.sophisticated:.the.projects.presented.by.the.top.players.at.MAPIC.

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Bringing Together Emotion and Business ................................... .48The.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 .............................. .52The.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 ................................ .54European.retail.market.knowledge..is.for.sale..Who.will.buy.it?

Creating Destinations in Shopping Places .............................. .58Foodservice.Column.by.Jonathan.Doughty

ICSC Retail Strategy & Trends Forum ................................84The.event.takes.place.in.Milan.on.November.27.and.28

Online Retail Is Growing up ............ .76A.recent.study.by.EHI.and.Statista.shows.that.the.rapid.growth.of.the.e-commerce.market.in.Germany.is.over.for.now

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” ................ .80The.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

Outlet Centers Are Adapted to Regions ............................................ .68According.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

Balmain Asset Management with New Managing Director for CEE .................74Ewa.Szafranska-Madry.has.been..appointed

“Anyone Who Survives a Storm Comes out Stronger” ...................... .60The.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

CityFit Plans 50 Fitness Clubs in Poland .............................................. .62Nicholas.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? ............................. .66Commentary.by.ACROSS’s.Retail.Scout.Jörg.F..Bitzer

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“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.”

reinhard WiniWarter

Publisher of ACROSS Magazine and Managing Director of 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.forward-looking..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.bench-marks,.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.”

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.

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.an-chored.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..

SanS eSpritBY reinhard WiniWarter, iMaGe: SMa

4 ACROSS 5 | 2014

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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%.

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.open-ing.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..

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..re.located..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..ex.penditure..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..outper.formance.

GroWinG retailer deMand for deSiGner outletS

BY alice BrehenY, iMaGe: tiaa henderSon real eState

“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.”

alice Breheny

Global Co-Head of Research at

TIAA Henderson Real Estate

5 | 2014 ACROSS 5

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A CARREFOUR FOR PARKLAKE

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.

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

AUSTRIA

6 ACROSS 5 | 2014

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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.

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 proper-ties, 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.

GERMANY

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Or contact us:Aareal Bank AG · Special Property Finance · Retail PropertiesPhone: +49 611 348 2341 · E-mail: [email protected]

We create the space for success.Explore now!

Retail

Properties

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.pace-setter.and.a. leader. in. retail.property.and..

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).

8 ACROSS 5 | 2014

COvER STORY

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MALL OF EUROPE

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.

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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.

RUSSIA

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EDINBURGH ST JAMES

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.

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.

AMERICAN DREAM

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.

UNITED KINGDOM

QATAR

USA

10 ACROSS 5 | 2014

COvER STORY

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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.

RUSSIA

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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 inhabi - tants. among other brands, it will welcome carrefour Market, h&M, Sephora, and le furet du nord.

FRANCE

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WATERMARK WESTQUAY

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.

UNITED KINGDOM

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GET DAILY UPDATES.on.the.most.important.news.from.the.international.shopping.center.industry. Stay.informed.about.the.latest.openings,.and.the.newest.projects..Read.concise.information.on.trends.and.strategies.

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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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ACROSS.is.the.leading.European.retail..real.estate.magazine..This.independent.magazine.informs.about.the.latest.projects.and.brings.relevant.news.in.top-quality.to.readers.in.the.sector.on.approx..100.pages..ACROSS.also.provides.political,.economic,.and.legal.information..All.this.is.rounded.off.by.country.profiles,.company.and.personal.portraits,.information.on.trends.in.retail..and.catering.sectors,.consumer.issues,..

and.commentaries.from.leading.experts..The.magazine.is.published.entirely.in..English,.with.an.exclusive.circulation.of.18,000.copies.in.42.European.countries,.reaching.the.industry’s.decision.makers..directly.

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COvERPOINT FOODSERvICE CONSULTANTSthe Barn, 11 Waltham court Milley lane, hare hatch, reading rG10 9aa, united kingdom phone: +44 18 940 5266fax: +44 118 940 5277email: [email protected]

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.

CINEPLExx INTERNATIONALMag. christof papousek Geschäftsführer|cfo constantin film-holding Gmbh cineplexx kinobetriebe Gmbh Siebensterngasse 37, a-1070 Wien, austria

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 tradi tional 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.

CHRISTMASWORLDMesse frankfurt exhibition Gmbhludwig-erhard-anlage 1d-60327 frankfurt am Main, Germanyphone: +49 69 75 75 - 0email: christmasworld@messefrankfurt.comwww.christmasworld.messefrankfurt.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.

CBRE GLOBAL INvESTORSSchiphol Boulevard 281, G-tower, 8th floor 1118 Bh Schiphol, the netherlands phone: +31 20 202 2200www.cbreglobalinvestors.com

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 *As.of.30.June.2012

ATP ARCHITECTS ENGINEERS innsbruck, Vienna, Munich, frankfurt, Zurich, Budapest, Zagreb, Moscowheiliggeiststr. 16, a-6020 innsbruck, austria phone: +43 512 5370 - 0 fax: +43 512 5370 - 1100 email: [email protected] www.atp.ag

atp architects engineers is one of europe’s largest and most renowned inte grated design offices. it employs 450 people in 8 subsidiaries in Germany, austria, Switzerland and cee. as specialists in retail and enter tainment 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 inter disciplinary teams plan simul taneously in virtual models. they handle all architec tural design and engineering tasks of a construction project.

BLACHERE ILLUMINATIONZone industrielle, f-84400 apt, france phone: +33 4 90 74 20 95 fax: +33 4 90 74 14 63 email: [email protected] www.blachere-illumination.com

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.

BRANDDESIGNERS rotenturmstrasse 17/10-12a-1010 Vienna, austriaphone: +43 1 533 32 60 55fax: +43 1 533 32 60 10email: [email protected] www.brand-designers.com

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.

COGEST RETAIL SRLvia G.B. pergolesi20124 Milano, italyphone: +39 02 91278 / 02 49585 fax: +39 02 61290784www.cogestretail.com

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-marke - ting, 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.

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EHL IMMOBILIEN GMBHprinz-eugen-Strasse 8-10, a-1040 Vienna, austria phone: +43 1 512 76 90 fax: +43 1 512 76 90 - 890 email: [email protected]

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.

EHI RETAIL INSTITUTE Spichernstr. 55 d-50672 köln, Germanyphone: +49 221 579 93 -32fax: +43 221 579 93 [email protected]

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.

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: [email protected] www.gcsc.de

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.

FOUNDATION RECRUITMENT UK LTD33 cavendish SquareW1G 0pW, united kingdomphone: +44 207 484 5086email: [email protected]

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.

GLOBAL REAL ESTATE INSTITUTE (GRI)10 Melton Street, london, nW1 2eB, ukphone: +44 20 7121 5060fax: +44 20 7388 8740email: [email protected]

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.

GFK GEOMARKETING GMBHWerner-von-Siemens-Str. 9, Building 6508d-76646 Bruchsal, Germanyphone: +49 7251 9295 100fax: +49 7251 9295 290email: [email protected]

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”.

ECE PROJEKTMANAGEMENT G.M.B.H. & CO. KGheegbarg 30, d-22391 hamburg, Germany phone: +49 40 60606 - 0 fax: +49 40 60606 - 6230email: [email protected]

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.

FIRST CHRISTMAS BY ROSENAU GMBHBlankeneser Bahnhofstr. 7, d-22587 hamburg, Germany phone: +49 (0)40 86 64 875 - 0 fax: +49 (0)40 86 64 875 - 60 email: [email protected] www.firstchristmas.com

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 decorations. our expertise and products are being implemented across the continent and in the near east.

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KLÉPIERRE21 avenue kléber, f-75116 paris, francephone: + 33 1 40 67 57 40fax: + 33 1 40 67 55 62www.klepierre.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.

KUNDöRFER CONSULTING GMBHfrankenweg 5, a-8051 thal-Graz, austria phone: +43 316 / 581 822 fax: +43 316 / 570 550 email: [email protected] www.kundoerfer-consulting.com

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.

MAPICthe international market for retail real estatephone: +33 1 79 71 90 00www.mapic.com

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-ECECENTERMANAGEMENT GMBH & CO KGam albertussee 1d-40549 düsseldorf, Germanyphone: +49 211 30153-0fax: +49 211 30153-450email: [email protected]

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, leas-ing, developing and marketing of currently 41 shopping centres in Germany. at the cen-tres, 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 FRANKFURTMesse frankfurt exhibition Gmbhludwig-erhard-anlage 1d-60327 frankfurt am Main, Germanyphone: +49 69 75 75 - 0email: [email protected]

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.

MFImfi management für immobilien aGBamlerstrasse 1, d-45141 essen, Germanyphone: +49 201 820 810fax: +49 201 820 81 11email: [email protected]

the mfi management fuer immobilien aG (mfi) was founded in 1987 and is the secondlargest German shopping centre company. Since 2012, mfi partners with unibail-rodamco (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 manage-ment. the essen-based company currently operates on 26 shopping centers, with six ofthem in its own portfolio. in addition, mfi/unibail-rodamco has three shopping centerprojects in development, namely in osnabrueck, recklinghausen and Moenchenglad-bach. 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.

ICSC EUROPE29 Queen anne’s Gate, london SW1h 9Bu, uk phone: +44 20 7976 - 3100 fax: +44 20 7976 - 3101 email: [email protected] www.icsc.org

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.

IMMOFINANZ GROUP Wienerbergstraße 11, a-1100 Vienna, austria phone: +43 1 88 090email: [email protected] www.immofinanz.com

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

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NEINvERfrance, Germany, italy, poland, portugal, Spaincalle francisca delgado nº 115º planta (núcleo 2), 28108, Madridphone +34 91 490 22 00fax +34 91 490 23 [email protected]

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 BANK GMBH Marxergasse 1B, a-1030 Vienna, austriaphone +43 1 717 01 - 0fax: +43 1 717 01 - 3000 www.paylife.at

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 2241097 dn amsterdam, the netherlandsphone: +31 20 599 6262fax: +31 20 599 6263email: [email protected]: @redevcowww.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 WINERYobere hauptstrasse 19, a-3552 Stratzing/kremsBusiness adress: rotenturmstrasse 17, a-1010 Vienna, austriaphone: +43 1 533 32 60fax: +43 1 533 32 60 10email: [email protected] 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.

SMA STANDORT MARKETING AGENTUR GMBHrotenturmstrasse 17, a-1010 Vienna, austria phone: +43 1 533 32 60 - 0 fax: +43 1 533 32 60 - 10 email: [email protected] www.sma-austria.at

We specialize in fulfilling the marketing and communication needs of retail and commercial real estate. our scope comprises pro j ect development services as well as drafting and implementation of marketing and communi cations for operational properties. our goal is to turn retail locations into strong and appealing regional brands.

SES SPAR EUROPEAN SHOPPING CENTERS GMBHSöllheimer Strasse 4, a-5020 Salzburg, austria phone: +43 662 4471 0 fax: +43 662 4471 7199 email: [email protected] 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.

MK ILLUMINATION trientlgasse 70, a-6020 innsbruck, austria phone: +43 512 20 24 30 - 0 fax: +43 512 20 24 33 email: [email protected] www.mk-shoppingcenter.com

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

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TRIGRANIT MANAGEMENT CORPORATIONVáci út 3.1062 Budapest, hungaryphone: +36 1 374 6516fax: +36 1 374 6571email: [email protected]

ZUMTOBEL LICHT GMBHdonau-city-Strasse 1, a-1220 Wien, austria phone: +43 1 258 26 01 - 0 fax: +43 1 258 26 01 - 982 845 email: [email protected] www.zumtobel.at

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.

SONAE SIERRAlugar do espido,Via norte 4471-909 Maia, portugal phone: +351 22 948 7522 email: [email protected] www.sonaesierra.com

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.

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.

UNION INvESTMENT REAL ESTATE GMBHValentinskamp 70 / eMporiod-20355 hamburg, Germanyphone: +49 40 34 919-0fax: +49 40 34 919-4191 email: [email protected]/realestate

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.

ULI – URBAN LAND INSTITUTEGERMANY/AUSTRIA/SWITZERLANDeuropa-allee 22d-60327 frankfurt am Main, Germanyphone: +49 696 062 7181fax: +49 69 768 067 9181email: [email protected]

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.

TIAA HENDERSON REAL ESTATE 201 Bishopsgate, london ec2M 3Bn phone: +44 20 3727 8000 fax: +44 20 3727 8001email: [email protected]

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.All.figures.as.at.31.December.2013.

5 | 2014 ACROSS 17

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