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Living Assets Must Evolve ................ .6Commentary.by.Jorge.Morgadinho

50 Years of Shopping Centers in Europe – 50 Years of Success for Retailers and the Real Estate Industry .................................. .8Commentary.by.Alexander.Otto

Focus on the Brand – an Advantage on Several Levels .............................. .9Commentary.by.Dietmar.Reindl

Retail – and Something More? ....... .10Commentary.by.Christoph.M..Achammer

How Shopping Centers Are Adapting to Change ..........................................11Commentary.by.Neil.Hockin

How Sustainable Is the Refurbishment Trend, Really? ........ .12Commentary.by.Rainer.Kundörfer

Light-Based Events: New Sources of Income ............................................. .14By.Johan.Hugues

Harnessing the Power of Food ....... .48Foodservice.Column.by.Jonathan.Doughty

Christmasworld on Tour ................. .50With.Christmasworld’s.Premium.Business.Program,.participants.are.treated.to.a.shopping.tour.of.Frankfurt.am.Main

Focus on 2015 ................................. .38What.the.retail.real.estate.industry..can.expect

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

ACROSS Goes Mobile......................... 30Starting.in.March.2015,.ACROSS’s..community.of.readers.will.have.access.to.a.website.adapted.for.all.mobile.devices,.a.specially.designed.ACROSS.app,.more.news,.ACROSS.TV,.and.numerous.extra.features

Opened November 28 ..................... .32With.230,000.sq.m.of.GLA,.Avia.Park.in.Moscow.is.one.of.the.largest.shopping.centers.in.Europe

Polygone Riviera 73% Leased One Year ahead of Opening ................... .34Unibail-Rodamco.and.Socri.have.announced.the.project’s.strong.leasing.progress..The.70,000-sq-m.center.will.be.the.first.lifestyle.mall.in.France

A Project for Marseille .................... .36Klépierre.is.betting.on.the.seaside.metropolis.with.Prado.shopping.center..Galeries.Lafayette.will.be.one.of.the.anchor.tenants

2 ACROSS 6 | 2014/2015

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Kick off amid Big Regional Development Opportunities ............ 81The.ICSC’s.annual.RECon.Asia..took.place.in.Singapore.from..November.10.–.12

Innovation Abounds at 20th MAPIC ..................................82Innovation,.internationalization,.and.continued.confidence.in.an.ongoing.retail.recovery.were.the.hallmarks.of.the.20th.edition.of.MAPIC

Turkey GRI 2015 ...............................84The.industry.event.takes.place.in.Istanbul.on.April.20.and.21

A Look at the Danish capital .......... .70Sadolin/Albæk.takes.a.close.look.at.the.metropolis.on.the.Øresund.and.its.surroundings.in.“Copenhagen.–.Property.Market.Report.2014”

Shopping Centers and Market Development in Finland .................. .74The.shopping.center.business.in.the.Scandinavian.country.has.reached.its.30-year.anniversary..It’s.not.yet.a.mature.sector,.but.it.is.an.area.with.continuous.development

In the Land of Milk and Honey ....... .78Historically.the.people.of.Belarus.went.to.Vilnius,.Warsaw,.or.Moscow.to.buy.brands.that.they.could.not.get.at.home..This.trend.is.beginning.to.change.as.more.and.more.international.brands.seek.space.in.the.country’s.new.shopping.centers

The Shopping Experience in 2014 ............................................. .80A.recent.study.by.CBRE.finds.that.consumers.want.convenience.and.a.social.experience.when.choosing.where.to.shop

Outlet Shopping: Are You in or Out? ........................... .58A.new.breed.of.outlet.shopping.malls.is.emerging..Outlets.that.no.longer.sit.on.the.periphery.of.city.life.but.exist.at.the.heart.of.urban.development.complementing.retail.parks..London.Designer.Outlet.is.one.example

A Viaduct as a Namesake ............... .62Southern.France.will.soon.have.a.new.outlet.center..Viaduc.Village,.developed.by.Etche.France.Group,.will.greet.customers.from.the.beginning.of.2016

Retail Parks: Sustainable Investment or Hype? ................................................66GfK.retail.expert.Manuel.Jahn.explores.why.retail.parks.constitute.a.sustainable.investment.with.genuine.substance

20 Years of MAPIC – Looking Back and Forward .................................... .52Commentary.by.ACROSS’s.Retail.Scout.Jörg.F..Bitzer

“We See Many Similarities with Scandinavia” .................................... .54Camilla.Høymer.Steen,.COO.of.Bik.Bok,.explains.in.her.interview.with.ACROSS.that.there.are.a.number.of.possible.countries.on.her.expansion.radar.–.including.Austria

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These.days,.there.has.been.a.large.debate.about.the.crises.of.the.bricks-and-mortar.trade.and.the.threat.from.e-commerce..Maybe..it.would.help.to.look.back.at.the.unparalleled.success.story.of.shop-ping.centers,.especially.on.the.occasion.of.a.great.anniversary..50.years.ago,.in.1964,.the.opening.of.the.Main-Taunus-Zentrum.near.Frankfurt.marked.the.opening.of.Europe’s.first.modern.shopping.center..While.there.were.only.14.significant.shopping.centers.in..Germany.in.1970,.that.number.has.risen.to.more.than.460.in.2014,.according.to.the.EHI.institute..The.“inventor”.of.this.type.of.shop-ping.center.was.the.Austrian-American.architect.Victor.Gruen,.who.had.already.designed.the.first.centers.in.the.US.in.the.1950s...Interestingly,.he.was.also.a.keen.supporter.of.established.shopping.destinations.–.he.designed.the.world’s.first.pedestrian.zone,.which.was.established.in.Vienna.in.1970.

Before.shopping.centers,.so-called.community.markets.–.similar.to.large.department.stores.–.were.the.first.to.provide.new.shopping.worlds..In.this.concept,.the.shops.of.retailers.were.not.perceived.as.independent.and.could.not.stand.out.from.one.another..This.model.failed.and.was.replaced.by.modern.shopping.center.concepts.in.which.individual.retailers.were.allowed.to.realize.their.own.shop..designs..My.father,.Werner.Otto,.played.a.major.role.here..He.brought.the.idea.of.modern.centers.from.the.US.to.Europe.and..developed.the.first.enclosed.shopping.centers.in.Germany.in..the.mid-1960s,.such.as.Franken-Center.Nürnberg,.which.is.still..performing.very.well.today,.and.Alstertal-Einkaufszentrum.in..Hamburg,.which.has.been.modernized.and.extended.time.and.again..This.is.why.ECE.is.celebrating.its.50-year.anniversary.in.2015..The.history.of.the.company.is.closely.connected.to.that.of.the.industry..

In.the.1960s.and.the.1970s,.developments.were. limited.to..greenfield.sites.because.their.realization.was.more.profitable.and.there.was.more.space.to.build.large.parking.lots.around.the.shop-ping.centers..During.the.economic.boom,.sales.areas.were.in.high.demand.that.could.not.be.adequately.met.by.old.city.centers.

By.providing.free.parking.and.thus.facilitating.convenient,.direct..access.to.the.shops,.greenfield.developments.were.able.to.compete.with.the.many.established.city.centers.and.their.cozy.pedestrian.zones.for.some.time..However,.after.a.few.years,.it.became..apparent.that.this.was.not.enough..A.new.way.of.thinking.took.hold,.especially.in.municipalities..Some.city.centers.suffered.from.the..impact.of.large.project.developments.on.urban.fringes.and.city..center.desertion.kicked.in..Authorities.responded.by.issuing.fewer.building.permits.for.greenfield.locations.and.there.was.a.return.to.the.city.centers..By.this.time.at.the.latest,.Europe.began.going.its.own.way.with.regard.to.the.development.of.shopping.centers..While.centers.in.the.US.created.an.urban.feel.without.cities,.they.were.an.addition.to.the.established.city.centers.in.(Western).Europe..Every.shopping.center.is.as.diverse.as.the.continent.itself..Their.size..varies.from.a.few.thousand.to.100,000.sq.m,.depending.on.the..culture,.competition,.and.statutory.regulations..In.Southern.Europe,.especially.in.Turkey,.large.entertainment.areas.are.required;.the.food.court.tradition.there.has.already.reached.Western.Europe.as.well.

Shopping.centers.have.weathered.50.years.of.rapid.changes.in..European.countries.and.in.the.retail.industry.without.significant..injuries..It.is.in.the.DNA.of.developers.and.operators.to.re-invent.themselves.time.and.again..Looking.back.therefore.gives.us..courage.for.the.future:.The.internet.is.not.the.end.of.shopping..centers..Here’s.to.the.next.50.years!

50 years of shopping centers in europe – 50 years of success for retailers and the real estate industry By alexander otto, iMage: ece

AlexAnder OttO

Chief Executive Officer of ECE

4 ACROSS 6 | 2014/2015

What is your opinion on this topic? Discuss it with us! Send your opinion toopinion@across-magazine.com!

New.projects.always.involve.necessary.preparations:.We.investigate.which.cities.might.make.sense.for.us.and.our.customers,.look.at..purchasing.power,.traffic,.development,.and.infrastructure.plans.for.each.region,.etc.,.and.define.the.most.appropriate.place.for.a..potential.retail.or.logistics.property.on.the.basis.of.the.parameters.analyzed..We.place.a.strong.focus.on.brand.building.in.our.real.estate.portfolio..This.has.proved.to.be.an.advantage.in.all.areas.of.our.busi-ness.–.both.in.development.and.asset.management.–.and.not.least.in.the.area.of.transactions,.with.an.ultimate.view.towards.a.later.sale.

But.let’s.start.at.the.beginning,.at.development:.Here.we.focus.on.our.strengths.as.a.large.group..We.have.a.strong.financial.position.and.are.present.in.many.markets,.so.we.can.build.on.existing.structures..This.allows.us.to.roll.out.a.product.under.one.umbrella.brand.in..several.countries.very.quickly.–.you.can.definitely.compare.it.to.an.industrial.production.process..Our.retail.warehouse.chain.Stop.Shop..is.a.very.good.example..They.are.characterized.by.uniform.quality.standards,.functionality,.and.high.recognition.value..In.the.last.fiscal.year,.we.also.created.Vivo!,.a.new.brand.for.retailers.because,.espe-cially.in.the.retail.sector,.the.presence.of.different.concepts.has.proved.useful..Vivo!.shopping.centers.are.between.Stop.Shop.s.on.one.side.and.large.shopping.centers.on.the.other,.in.terms.of.size,.position,.and.range..Vivo!.combines.the.advantages.of.both..approaches:.the.“easy.shopping”.of.retail.warehouses.and.the.strong.entertainment.component.we.know.from.our.large.shopping.centers..They.are.typically.single-story.shopping.centers.with.strong.fashion.and.entertainment.focus,.which.is.ideal.for.small.and.medium-sized.

cities.Branding.is.not.just.an.advantage.in.the.early.stages,.it.is..highly.useful.in.the.long.term.as.well..From.our.residential.brand..Buwog.to.the.retail.warehouse.chain.Stop.Shop..and.our.new.Vivo!.Centers,.to.Deutsche.Lagerhaus.and.Log.Center,.which.handle.our.logistics.activities.in.Germany.and.Eastern.Europe,.we.can.already.point.to.numerous.successfully.established.brands.with.which.we.are..also.expanding.further.in.our.core.countries..We.already.have..52.Stop.Shop.s.in.Central.and.Eastern.Europe.and,.while.further..ex.pansion.is.planned.in.Poland,.in.particular,.we.are.also.preparing.our.first.Stop.Shop.s.in.Romania.and.Serbia..The.move.to.Serbia,..incidentally,.is.at.the.behest.of.our.tenants.and.we.are.happy.to.follow.up.on.their.wish.given.the.Balkan.country’s.potential..

Retailers.therefore.appreciate.our.clearly.defined.brand.policy.and.our.large.network..To.expand.into.new.countries,.they.require.a..certain.minimum.number.of.sites.in.order.to.achieve.economies..of.scale..They.therefore.want.a.reliable.partner.and.developer.to..accompany.them.who.is.able.to.quickly.implement.a.roll-out.in..several.countries..A.few.statistics.on.this:.We.do.not.usually.begin.with.the.detailed.implementation.of.a.new.Stop.Shop..until.we.reach.a.pre-letting.level.of.around.70%..Overall,.about.80%.of.the.area.in.a.Stop.Shop..is.occupied.by.international.tenants.who.accompany.us..Takko,.Deichmann,.DM,.and.KiK.are.just.a.few.of.those.prestigious.international.retailers.that.are.present.in.more.than.30.of.our.Stop.Shop..sites..These.figures.are.a.good.example.of.our.successful.brand.strategy.

focus on the Brand – an advantage on several levels By dietMar reindl, iMage: iMMofinanz group

dietmAr reindl

COO of Immofinanz Group

50 years of shopping centers in europe – 50 years of success for retailers and the real estate industry

“The move to Serbia is at the behest of our tenants and we are happy to follow

up on their wish given the Balkan country’s potential.”

6 | 2014/2015 ACROSS 5

What is your opinion on this topic? Discuss it with us! Send your opinion toopinion@across-magazine.com!

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JUStYnA WilliAmS

Jones Lang LaSalle (JLL) announced that Justyna Williams has joined the company as Director of Retail Operations in the Property Management Department in Poland. Williams will be responsible for the manage-ment of retail properties in JLL’s portfolio as well as developing relations with clients from this area. She will oversee 37 retail projects throughout Poland, including Forum Gliwice and Pasaz. Swietokrzyski, and will report directly to Virginie de Baere, Head of Property Management in Poland. Before joining the JLL team, Williams worked as Retail Asset Manager for Cushman & Wakefield. During her employment, the team increased the portfolio of retail properties under management from two to 13 (by ca 130,000 sq m of GLA) in just one year. Previously, as Property Asset Management Team Leader for Tesco Polska, she was responsible for the manage-ment of over 400 properties located across Poland, including shopping malls, offices, warehouses, and plots of land. Williams graduated with degrees in English Philology, from the University of Wroclaw, and Management and Marketing, from the Warsaw School of Economics, as well as a post-graduate degree in Property Manage-ment at the Warsaw University of Technology. She has 12 years of experience in the commercial real estate market in Poland.

LAND SECuRITIES WITH NEW LETTINGS

at Mapic, land securities confirmed about 12,000 sq m of retail and leisure lettings across its shopping center portfolio and retail development pipeline. a five-screen curzon cinema totaling 2,000 sq m was confirmed at Westgate in oxford, the proposed 74,000-sq-m scheme the company is planning in partnership with the crown estate. at Buchanan galleries in glasgow, where land securities is proposing a major extension to create an 111,000-sq-m retail and dining destination in the heart of the city center, three new restaurant brands and two well-known fashion brands have all committed to the project. at Bluewater (photo) in Kent, land securities has brought seven new brands to the mall since it took ownership in July, with names such as White stuff, Bill’s, american eagle, and le creuset taking space totaling 2,200 sq m. at gunwharf Quays, the company recently introduced Mint velvet, asics, coast, Watch station, Musto, pret a Manger, and pearl izumi, which have taken a total of 1,600 sq m. the premium outlet center has benefited from a 30% change in tenant mix over the last 24 months, with the addition of brands such as tommy hilfiger, all saints, ugg, and radley. scott parsons, Managing director, retail, said: “this raft of lettings across both our existing and proposed new centers is testament to the strength of our retail portfolio, which we have been reshaping to focus on the key themes of dominance, experience, and convenience. the best brands want the best space in the best locations, and that is exactly what land securities can deliver.”

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Kgal has acquired another object for its institutional real estate fund austrian retail park portfolio (arpp): eo in oberwart. the shopping center is located in Burgenland and is fully leased. since december 2012, Kgal has thus already invested in four shopping centers and retail parks in austria and has expanded its local inventory to €1.1 billion. Built in 2009, eo combines classic elements of a retail park with features of a shopping center and enjoys excellent positioning due to its size and tenant mix. the two-story center offers comfortable, one-stop shopping with diverse product and service offerings, as well as 750 parking spaces. the lettable area is about 26,000 sq m. the center’s current 55 tenants include c&a, Media Markt, Müller, h&M, adler, and a Kastner & Öhler department store, a brand known throughout austria. “Kgal has a long-standing presence and an extensive network in austria. this makes it possible for us to identify interesting objects with potential again and again. the limited market supply is still a challenge, however. this is all the more reason to look forward to this successful purchase,” says andré zücker, head of real estate at Kgal investment Management gmbh & co. Kg. the shopping center’s sellers were christian harisch and stefan rutter, who in turn each hold a 50% stake in rutter immobilien gruppe. they have retained a long-term, 10% stake in the object.

REDI’S INVESTOR GROuP IS SET

srv, ilmarinen Mutual pension insurance company, and op-pohjola group’s insurance and pension communities, as well as a real estate fund managed by srv have negotiated an agreement on the founding of a joint venture for implementing the redi shopping center and parking facility at Kalasatama, helsinki. signing the agree-ment is conditional on external loan financing, the terms of which srv is currently negotiating with a syndicate of banks. “We have advanced in the overall solution of the project’s investor and financing arrangements in such a way that we are preparing for the start-up of the site. the agreement on the formation of the joint venture will be signed with investor partners in the near future”, says srv’s president & ceo, Jukka hienonen. the joint invest-ment holdings will be divided between the investors such that srv’s holding is 45%, ilmarinen’s holding is 40%, and op-pohjola group’s and srv’s fund’s holing is 15%. the total value of the shopping center and parking facility investment is around €480 million, of which half consists of the owners’ capital invest-ments. srv’s holding is valued at around €110 million. project loans are expected to be around 50% of the total value of the investment. red shopping, with over 60,000 sq m of retail space, is due to open in 2017.

AuSTRIA

FINLAND

6 | 2014/2015 ACROSS 7

from March this year, across’s community of readers will have access to a website adapted for all mobile devices, a specially designed across app, more news, across tv, and numerous extra features.

ACROSS,.the.European.retail.real.estate.magazine,.is.going.mobile..In.March.2015.we.will.present.our.latest.project:.ACROSS.mobile..This.digital..relaunch.is.our.response.to.the.wishes.expressed.by.many.readers.to.make.ACROSS.available.every-where.at.all.times.by.opening.a.new.multimedia..information.channel..In.short:.From.March.2015.onwards,.ACROSS.will.be.available.on.our.new..multimedia.website.www.across-magazine.com.and.via.our.app.for.all.popular.mobile.devices..

The.heart.of.ACROSS.mobile.is.and.will.remain.our.industry.magazine,.which.is.published.six.times.per.year..In.addition.to.the.print.edition,.ACROSS..

subscribers.will.soon.receive.unrestricted.access.to.the.full.online.version.of.the.magazine..We.will.also.offer.an.option.for.an.online-only.subscription.at.a.reduced.price.

ACROSS TICKER AND TV

We.are.also.strengthening.our.weekly.industry..reporting..The.ACROSS.news.ticker.will.give.you.full.access.to.the.most.relevant.and.current.news.from.the.retail.real.estate.business..Prepared.in.a.structured.and.informative.format,.we.will.deliver.news.about.main.events,.deals,.and.trends.in.the.European.shopping.center.industry.

across goes MoBileImageS: aCROSS

Manuel Koch, editor-in-chief of the online channel “Wirtschaft TV” will present the upcoming news service “ACROSS TV”.

8 ACROSS 6 | 2014/2015

There.will.also.be.a.great.deal.to.see.on.our.brand-new.information.channel.ACROSS.TV..The.ACROSS.TV.team.will.provide.ongoing.up-.to-date. reports. on. international. industry..meetings.and.provide.in-depth.portraits.of.the.shopping.center.industry’s.leading.managers..The.program.list.also.includes.detailed.inter-views,.discussions,.and.a.clear.overview.of.the.European.retail.property.market.

TOP jOB CANDIDATES

The.continuous.professionalization.of.property..management.requires.highly.trained.specialists..ACROSS.brings.together.the.industry.to.support.you.and.your.business.in.finding.the.right.people.for.key.positions..In.partnership.with.the.British.agency.Foundation.Recruitment,.we.are.establishing.ACROSS.Jobs,.an.extensive.human.resource..platform.–.by.specialists.for.specialists.

ACROSS.reaches.industry.decision.makers.directly,.and.is.published.six.times.a.year.in.42.European.countries.with.a.circulation.of.more.than.18,000...

Become.part.of.this.successful.project!.You.can.do.this.as.an.entrepreneur,.by.entering.into.a.strategic.partnership,.or.you.can.benefit.from.the.advance.knowledge.our.readers.and.subscribers.enjoy..In.addition,.we.look.forward.to.your.comments.and.messages..In.short:.Think.ACROSS.

YOU cAn SUbScribe tO AcrOSS:

The magazine comes out six times a year and will be delivered to you by post. For a yearly price of €119 (mobile version only €59) you will receive all six issues. This will keep you updated on legal, economic, and political news from the European Economic Area as well as the latest developments in Europe’s shopping center and retail real estate scene.

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DECEMBER 9, 2014 BY ACROSS-EDITOR

MULTI, QUBICON CREATE TURKEY’S LARGEST MALL OWNER AND MANAGER

Image: CBRE

Multi Corporation, one of Europe’s leading owners, (re)developers and managers of prime shopping centers, announces that Multi Turkey has joined forces with Qubicon, the retail real estate investor and manager, to create one of the biggest players in Turkey. ‘We are pleased that we’ve successfully combined the Multi and Qubicon portfolios, creating the largest shopping centre management and development company in the Turkish market,’ said Jaap Blokhuis, CEO of Multi Corporation. The combined Multi-Qubicon business owns and manages 14 active shopping centers and 4 new developments, representing over one million sq m. The active shopping centers welcome 160 million annual visitors and generate five billion TL turnover per year. The company’s centers include Forum Istanbul (photo), the biggest shopping center in Europe and Marmara Forum, awarded the ICSC Best Shopping Center in Europe , as well as Gordion and Forum Ankara in the nation’s capital. ...

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DECEMBER 9, 2014 BY ACROSS-EDITOR

MULTI, QUBICON CREATE TURKEY’S LARGEST MALL OWNER AND MANAGER

Image: CBRE

Multi Corporation, one of Europe’s leading owners, (re)developers and managers of prime shopping centers, announces that Multi Turkey has joined forces with Qubicon, the retail real estate investor and manager, to create one of the biggest players in Turkey. ‘We are pleased that we’ve successfully combined the Multi and Qubicon portfolios, creating the largest shopping centre management and development company in the Turkish market,’ said Jaap Blokhuis, CEO of Multi Corporation. The combined Multi-Qubicon business owns and manages 14 active shopping centers and 4 new developments, representing over one million sq m. The active shopping centers welcome 160 million annual visitors and generate five billion TL turnover per year. The company’s centers include Forum Istanbul (photo), the biggest shopping center in Europe and Marmara Forum, awarded the ICSC Best Shopping Center in Europe , as well as Gordion and Forum Ankara in the nation’s capital. ...

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Development ECE Entertainment Event

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GCSC Germany Hungary ICSC

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Poland Projects Retail Romania

Russia Scandinavia Shopping-Center-

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6 | 2014/2015 ACROSS 9

What the retail real estate industry can expect.

“Slow.recovery.with.extremely.low.inflation.”.This.is.the.less-than-dazzling.core.message.from.the.European.Union’s.current.autumn.forecast..In.view.of.the.developments.it.outlined,.this.title.is.actually.still.an.understatement..That’s..because.the.euro-zone.economy.will.grow.by.only. 1.1%. in. 2015. according. to. the. new..calculations.. The. authorities. in. Brussels..expected.GDP.growth.of.1.7%.as.recently.as.this.past.spring..2014.is.also.going.out.weaker.than.originally.expected:.up.0.8%.instead.of.1.2%..The.situation.in.the.EU.as.a.whole.is.similar:.It.is..likely.to.have.grown.by.just.1.3%.instead.of.1.6%.in.2014.and.to.reach.only.1.5%.instead.of.2.0%.in.2015..In.addition,.the.German.growth.engine.is.now.stuttering..The.only.large.EU.members.that.have.somewhat.celebratory.growth.forecasts.for.2015.are.the.UK.and.Poland.

The.European.retail. real.estate. industry. is..combating.these.economic.hardships.with..activism..In.the.outlet.sector,.McArthurGlen.plans.to.grow.its.business.even.further.in.2015,.with.a. focus.on.France.and.Germany..The..company’s.development.pipeline.sees. the..opening.of.the.first.Designer.Outlet.outside..Europe.–.in.Vancouver,.Canada.–.in.spring...Likewise,.Fashion.House.Group.wants.to.open.an.outlet.center.in.St..Petersburg.and.the.second.portion.of.its.outlet.in.Moscow.

THAT FRIENDLY SMILE

In.addition.to.openings.and.refurbishments,.shopping.center.developers.and.operators.are.now.focusing.on.the.combination.of.bricks-and-mortar.and.online.trading..To.cope.with.ongoing.changes,.malls.must.constantly.adapt.to.support.new. technological.developments..Kersten.Rosenau,.Founder.of.First.Christmas,.sums.up.what.will.attract.the.masses.to.the.temples.of.consumerism. in. 2015:. “Customers. want..emotion..They.want.that.friendly.smile.when.they.enter.a.store,.the.advice.of.well-trained.sales-people,.a.sophisticated.atmosphere,.and.to.be.surprised.and.excited.with.novelty.”.According.to.Cushman.&.Wakefield,.retailers.are.prepared.to.face. this. chal lenge. and. the. associated..competition..Many.of.them.are.using.their.store.networks.to.fight.back..Experts.expect.more..demand.for.larger.flagships,.but.also.for.smaller.shops.in.a.range.of.centers.to.help.with.profile,.access,.and.implementation..

“May.you.live.in.interesting.times”.is.a.Chinese.proverb.that.is.often.interpreted.as.a.curse..With-out.a.doubt,.the.label.“interesting”.rings.true.for.the.seventh.year.after.the.collapse.of.Lehman.Brothers..All.industry.players.are.aware.of.that..They.will.ensure.that.European.market.activity.in.2015.will.be.anything.but.uninteresting.

10 ACROSS 6 | 2014/2015

COVER STORY

jOSIP KARDuNCEO of Atrium European Real Estate

We.expect.investor.confidence.and.the.weight.of.capital.seeking.high.quality.retail.assets.to..narrow.the.pricing.gap.between.primary.and..secondary.over.the.year,.particu.larly.for.dominant.regional.centers.as.investors.are.priced.out.of.capital.cities..We.will.also.see.a.continu.ation.of.the.trend.of.owners,.such.as.Atrium,.improving.and.ex.panding.their.assets.to.grow.income.and.keep.them.relevant.in.a.constantly.evolving.retail.landscape..Despite.the.fact.that.the.economic.growth.in.CEE.for.2015.depends.on.the.Eurozone.recovery.and.the.impact.of.the.geo-political..crises.in.Russia,.we.expect.our.region.to.provide.a.solid.spread.in.the.long.term.growth.above.the.Western.European.countries..

CHRISTOF WINKELMANNManaging Director Special Property Finance at Aareal Bank AG

Understanding.and.shaping.the.link.between.the.digital.world.and.the.bricks-and-mortar.business.will.be.a.key.to.success..Markets.are.continu.ously.moving.faster.in.both.the.retail.and.the.banking..industries..E-Commerce.is.changing.the.tradi.tional.be.havior.of.consumers.in.the.same.way.as.the.“new.normal”.is.influencing.the.way.banks.inter-act.with.the.industry..To.cope.with.the.ongoing.changes,.shopping.centers.must.constantly.adapt.to.support.these.new.deve.lopments..This.requires.active.management.and.industry.know-how...Looking.into.2015,.E-Commerce.will.continue.to.in.fluence.consumers’.decision-making.processes,.while.the.bricks-and-mortar.business.and.banks.will.have.to.adapt.to.them.

MICHAEL SCHEITHAuER, CEO of Barthelmess“Selling.machine”.versus.“lifestyle.place”.–.retailers.have.been..having.a.similar.discussion.for.years,.namely.that.of.“online.versus.offline.”.There.is.no.right.or.wrong.on.this.topic..The.subject.of.online.versus.offline.retailing.has..shown.that.there.is.room.for.both.approaches..Instead,.it.is.a.question.of.the.target.group.that.you.hope.to.address..The.same.challenges.exist.in.visual.merchan-dising..As.a.leading.worldwide.provider.of.visual.marketing,.we.stand.for.maximum.interaction.between.brand,.product,.and.target.group..Whether.the.concept.is.for.a.selling.machine.or.a.lifestyle.place,.they.both.require.holistic.and.individualized.approaches..This.is.the.challenge.of.the.future..It.will.be.exciting!

CHRISTOF PAPOuSEKManaging Partner of Cineplexx International

After.the.mediocre.years.2013.and.2014,.we.are..expecting.a.year.of.super-.latives.for.the.cinema.world.in.2015..Hollywood.will.continue.to.rely.on.proven.concepts,.but.it.is.also.creating.some.elaborate.new.themes.for.the.big.screen..The.blockbuster.year.2015.will.be.launched.with.the.end.of.the.Hobbit.trilogy,.followed.by.Fifty.Shades.of.Grey,.Kingsman,.Furious.7,.Minions,.Ted.2,.and.a..particularly.exciting.comeback.for.James.Bond,.as.well.as.the..beginning.of.the.new.Star.Wars.trilogy,.Episode.7..This.is.a.big.challenge.for.cinema.operators,.as.it.will.bring.large.variations.in.capacity.utilization..These.visitor.peaks.will.also.be.reflected.in.shopping.malls.and.food.service.connected.to.cinemas,.which.also.creates.challenges.for.center.managers..Smooth.interaction.between.cinema.operators,.food.service,.and.center.manage-ment.will.spell.success.for.locations..Film.distributors.are.looking.for.partners.to.advertise.their.major.productions,.but.retailers.will.also.note.significant.spill-over.from.product.placement.in.movies.and.popular.merchandising.products..The.film.industry.and.its.shopping.mall.partners.can.rejoice.together.in.2015!.

CARMEN CHIEREGATO,CEO of Cogest Retail

MAPIC.provided.an.encouraging.snapshot.of.the.status.of.Italian.retail.real.estate,.particularly.in.relation.to.potential.investors..Following.three.years.of.economic.stalemate,.the.sector.seems.to.be.getting.into.motion.prudently:.International.funds.are.back,.looking.for.assets.to.acquire,.and.not.only.with.an.opportunistic.approach..The.financial.injection.that.would.be.essential.to.release.those.projects.that.are.stuck.in.pipelines.is.still.missing,.but.new.opportunities.are.in.sight..Cogest.Retail,.for.in-stance,.has.been.empowering.its.staff.and.service.to.cater.for.an.emerg-ing.business,.the.commercial.requalification.of.existing.shopping.malls.

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6 | 2014/2015 ACROSS 11

MARKuS NEuRAuTERManaging Director at Raiffeisen evolution

The.retail.market.and..consumers.have.changed.in.recent.years..“Shopping.equals.experience”.seems..to.be.the.new.formula...New..concepts.are.being..

developed.and.implemented..With.our.Promenada.Mall,.we.have.tried.to.meet.the.requirements.and.expectations.of..consumers.and.are.very.satisfied.with.the.result..In.London,.Stockholm,.and.Berlin,.for.example,.there.are.already.centers.that.work,.and.are.structured,.quite.differently..Visitors..experience.diversity.and.products.are.presented.perfectly.on.large.areas,.representing.a.complement.to.internet.shopping...I.think.we.will.see.rapid.development.and.a.lot.of.spectacular.malls.in.the.next.few.years.

ANDREW VAuGHAN,Chief Executive Officer at Redevco

Redevco.celebrates.its.15th.anniversary.in.2015..During.this.time,.we.have.seen..periods.of.tremendous.growth.coupled.with.ex.pansion.abroad,.as.well.as..having.to.manage.our.way.through.a..crisis..We.now.place.renewed.focus.on.

our.core.sector.retail.and.our.core.markets.in.Europe,.where.we..believe.we.can..create.the.most.value..We.are.now.entering.the..“new.reality”.in.retail,.characterised.by.polarisation,.changing.demo-graphics,.and.a.clear.distinction.between.convenience.and...experience..This.“new.reality”.calls.for.intensifying.colla.boration..between.landlords.and.tenants,.mayors.and.industry.organisations..As.a.landlord.active.on.the.high.streets.of.the.bigger.cities.in.Europe,..I.am.positive.that.we.need.to.take..action.in.2015.in.order.to.keep.our..cities.and.high.streets.flourishing.and.support.retailers.to.cope.with.this.exciting.and.fast-moving.retail.world.

“Promising prospects of the sector and its growth trend in European countries will make outlet malls a substantial part of the retail market in 2015.”BarBara topolsKa

ROGER NIEDERERChairman of PayLife

It.is.particularly.important.for.shopping.centers.to..satisfy.their.customers.all.around.and.offer.them.a..variety.of.services..An.extra.boost.to.customer.loyalty..

is.provided.by.gift.cards,.which.have..recorded.enormous.sales.rates.in.recent.years..Experience.in.shopping.centers.shows.that..significant.increases,.both.in.sales.and.in.customer.loyalty,.can.be.achieved.with.a.gift.card.solution.from.PayLife.when.compared.to.paper.gift.certificate.systems...This.trend.will..intensify.in.the.future.as.more.and.more.people.opt.for.this.modern.and.flexible.gift.

BARBARA TOPOLSKAChief Operations Officer Neinver

The.outlet.concept.has..bolstered.its.position.as.the.key.channel.within.the..distribution.strategy.of.brand.manufacturers...Mature.brands.and.experienced.operators.consider.outlet.stores.to.be.the.most.profitable.elements.of.their.multi-.channel.strategies..At.the.same.time,.this.sector.holds.a.lot..of.appeal.for.investors,.developers,.and.asset.managers.due.to.its.unwaveringly.excellent.performance,.even.in.times.of.economic.slowdown..Outlet.centers.also.stand.a.chance..of.becoming.full-blown.tourist.destinations..Promising..prospects.of.the.sector.and.its.growth.trend.in.European.countries.(incl..France,.Germany,.the.Netherlands,.and.Spain).will.make.outlet.malls.a.substantial.part.of.the.retail.market.in.2015..As.a.medium-term.challenge,.outlet..deve.lopers.and.managers.must.respond.to.increasing..consumer.demands.to.reduce.the.gap.between.online.and.bricks-and-mortar.shopping.experiences..We.have.to.offer.real.omni-channel.customer.experiences,.thus.creating.a.new.digital.ecosystem.

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12 ACROSS 6 | 2014/2015

COVER STORY

OLIVER FRASER-LOOENEuropean Investment Director at Savills

One.of.the.main.trends.we.have.seen.in.retailing.in.the.last.few.years,.not.only.in.Europe,.but..worldwide,.is.the.rise.of..e-commerce..We.believe.that..it.will.continue.to.change.the.

sector.and.force.retailers.to.adjust.their.strategies..One.way.we.see.them.doing.this.is.by.stores.becoming.showrooms.for..online.sales,.whereby.they.become.click.and.collect..distri.bution.hubs..In.terms.of.the.shopping.center.market,.we.think.large.and.small.shopping.centers.will.continue.to.do.well..Large,.dominant.centers.will.go.from.strength.to.strength.as..retailers.need.to.have.a.presence.in.these.schemes..Small-scale.centers.that.service.a.local.catchment.are.also.likely..to.succeed,.as.they.are.essential.to.everyday.life.

jACquES SINKECEO of reteam international

At.reteam,.we.firmly..believe.in.creating..desirable.retail.desti-nations..In.a.world.full.of.uncertainties.and.a.

rapidly.changing.retail.landscape,.it.is.absolutely.vital.to.have.a.clear.picture.of.your.local.market(s).and.to.place.yourself.in.your.customers’.shoes..Shopping.centers.and.city.retail.districts.alike.need.to.create.and.deliver.long-term.competitive.advantages.that.focus.on.consumers’.desires..So.in.2015,.too:.Think.Desirable!.

jENS PRzYGODDACEO of Sanifair GmbH

An.attractive.shopping.experience.includes.modern.sanitary..facilities..Sanifair.offers.top.standards.in.cleanliness,.hygiene,.and.equipment.and.meets.the.growing.quality.requirements..of.customers..This.is.evidenced.by.our.TÜV.certificate.“Service.Quality.System,”.which.confirms.our.customers’.extensive..satisfaction.in.terms.of.our.service-oriented.offer..Sanifair’s..comprehensive.offer.is.available.to.shopping.center.operators.in.Germany.and.throughout.Europe..Increasing.demand..has.also.affirmed.that.we.should.continue.our.successful..expansion,.inter.nationally.as.well,.in.2015.

MARCuS WILDCEO SES Spar European Shopping Centers & ICSC Trustee

We.live.in.a.world.of.changing.communication.and.one,.in.particular,.of.emotional.communi.cation..Our.motto.is.emotion.in.all.that.we.do..It.is.thus.crucial.for.retailers’.success..in.2015..to.continue.to.vie.for.customers’.feelings.and.to.link.an.emotional.presentation.in.the.real..world.with.the.comfortable..efficiency.of.the.virtual.world.(independent.of.any.discussion.of.opening.times).through.a.congenial.combination.of.bricks-and-.mortar.and.online.trading...The.emergence.of.new.brands.will..enliven.the.market..Measured.by.the.projects.we’re..implementing,.the.retail.real.estate.year.2015.can.only.be.a.good.one.for.the..industry,.the.retailers.in.our.centers,.the.construction.industry,.and.SES..The.focus.is.on.urban.flagship.projects.such.as.Weberzeile.Ried,.which.will.open.in.August,.and.Seestadt..Bregenz,.as.well.as.innovative.developments.like.the.opening.of.the.managed.shopping.street.in.Vienna-Aspern.and.high-quality.relaunches.like.Fischapark.Wiener.Neustadt,.Huma.Simmering,.and.Citypark.Graz.

PAuL NICHOLLS,Head of European Retail Asset Management at TIAA Henderson Real Estate

While.Europe.struggles.with.anemic.growth.and.simmering.political..tension,.consumer.and.retailer.confidence.is.returning.in.Spain.and.Italy..In.Spain,.retailers.are.starting.to.refurbish.stores.again.and.launch.new.concepts..Inditex.is.following.H&M’s.lead.and.is.looking.for.larger.formats.to.the.point.where.landlords.are.actively.having.to.adapt.center.layouts..Mango.seized.the.initiative.last.year.and.took.advantage.of.the.market.to.expand.aggressively.and.launch.new.brands..As.finance.has.become.cheaper.and.easier.to.secure,.trusted.franchisees.are.

back.in.the.market.and.able.to.fund.new.stores,.thereby.adding.to.demand,.which.is.finally.stabilizing.rents.and.leading.to.growth.in.the.most.popular.locations,.a.trend.we.expect.to.continue.through.2015..Italy’s.rebound.has.lagged.that.of.Spain,.but.prices.have.raced.back.in.recent.months.in.anticipation.of.a.similar.pattern.of.recovery..Competition.for.space.in.the.best.locations.for.both.centers.and.high.street.shops.is.strong,.albeit.subject.to.greater.caution.at.this.point.

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6 | 2014/2015 ACROSS 13

SILVIO KIRCHMAIRChairman of umdasch Shopfitting Group

The.rapid.pace.of.technological.change,.which.massively.affects.both.companies’.internal..processes.and.the.means.by.which.they.communicate.with.customers;.the.progressive..

globalization.of.industries;.and.the.emergence.of.entirely.new.forms.of.distribution.demand.a.high.level.of.entrepreneurship,.creativity,.and.innovation.from.retailers..The.stores.of.the.future.will.become.smaller.again.and.develop.in.the.direction.of..showrooms..The.top.locations.are.already.taken,.there.are..fewer.and.fewer.empty.spaces.for.expansion.and.rents.for..retail.space.continue.to.grow..Retailers.therefore.need..maximum.flexibility:.spaces.that.can.be.rearranged.according.to.demand..Differentiation.offers.experiences,.mise-en-scène,.and.inspiration..Consequently,.it.is.our.job.to.make.shops.that.touch.customers.and.encourage.them,.in.the.end,.to.make..purchases.

MICHAEL HOLzHead of Center Management jena at Wealth Management Capital Holding GmbH

The.shopping.center.market.is.more.alive.than.ever,.in.my.opinion..On.the.one.hand,.there.is.relatively.high.demand.for.good.shopping.center.properties,.on.the.other.hand,.it.is.increasingly.important.to.operate.a.highly.dedicated.center.management.to.cope.optimally.with.the.diverse.requirements.(intensive.tenant.care,.individual.location.marketing,.customer.service.intensification,.etc.)..The.challenges.are..constantly.getting.bigger..I.am.fully.convinced.that.those.who..accept.and.cope.with.these.best.will.be.rewarded.

ROLAND GOWICKDirector Key Account Management at zG Lighting Austria GmbH

Flexible.lighting.solutions.that.put.the.needs.of.people.first.and.that.offer.customers.and.partners.real.added.value.will.continue. to.be.a.central..topic.in.2015..LED.technology,.combined.with.new.techno-logies.such.as.iBeacon,.offers.new.possibilities..The.switch.from.con.ventional.light.sources.to.LEDs.will.thus.progress.quickly.and.penetrate.into.all.areas.of.application..Studies.show.the.importance.of.individual.lighting.solutions.for..addressing.different.target.groups.in.retail..With.Zumtobel.Limbic®Lighting,.we.offer.completely.new.approaches.for.the..development.of.customized.lighting.scenarios.

PHILIP EVANSCEO of TriGranit Management Corporation

With.the.Arab.Spring.more.or.less.behind.us,. Egypt. is. now..playing. a.positive.role,. leading. the.North.African.countries’.real.estate.development.surge..The.government.is.encouraging.local.and..international.developers.equally.to.push.the.button.on.construction.again,.boosting.consumer.and.retailer.confidence.in.Cairo.to.its.highest.level.since.the..revolution..With.the.inception.of.new.retail.and.mixed-used.developments.in.Cairo,.the.demand.for.retail.space.is.still.growing.significantly,.particularly.in.the.suburbs.of.6th.October.and.New.Cairo..Morocco,..Algeria,.and.Tunisia.are.following.fast.in.Egypt’s..footsteps,.with.more.developers.shedding.light.on.new.and.exciting.projects,.which.will.shape.the.retail.scene.in.North.Africa.for.many.years.to.come.

“The top locations are already taken, there are fewer empty

spaces for expansion, and rents for retail space continue to grow.

Retailers therefore need maximum flexibility.“silvio KirchMair

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14 ACROSS 6 | 2014/2015

COVER STORY

THINK ACROSS.

SuBSCRIBE TO THE NuMBER ONE MAGAzINE FOR RETAIL REAL ESTATE IN EuROPE.

“across – european retail real estate Magazine” is the

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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,..

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16 ACROSS 6 | 2014/2015

COVERPOINT FOODSERVICE CONSuLTANTSthe Barn, 11 Waltham court, Milley lane, hare hatch,reading rg10 9aa, united Kingdomphone: +44 118 940 5266fax: +44 118 940 5277email: commitment@coverpoint.co.ukwww.coverpoint.co.uk

coverpoint, a Jll company 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: info@atp.ag 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: sales@blachere-illumination.com 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: office@brand-designers.com 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: office@ehl.atwww.ehl.at

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 -45info@ehi.orgwww.ehi.org

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: office@gcsc.de 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: info@foundationrecruitment.co.ukwww.foundationrecruitment.co.uk

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: info@globalrealestate.orgwww.globalrealestate.org

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: info@gfk-geomarketing.comwww.gfk-geomarketing.com

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: info@ece.comwww.ece.com

ece has been developing, building, leasing out, and managing shopping centers since 1965 and is active in 16 countries. the company is european market leader with 196 managed shopping centers. on an overall sales area of 6.5 million sq m, about 19,500 retail businesses generate 22 billion euros in annual sales. numerous 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: mail@firstchristmas.com 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: office@kundoerfer.com 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 2,400 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 8,400+ participants from 75 countries. the 21st edition will take place at the palais des festival of cannes, france, from 18-20 november 2015.

MEC METRO-ECECENTERMANAGEMENT GMBH & CO KGam albertussee 1d-40549 düsseldorf, germanyphone: +49 211 30153-0fax: +49 211 30153-450email: info@mec-cm.comwww.mec-cm.com

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 sq m. 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: info@messefrankfurt.comwww.messefrankfurt.com

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: mfi.essen@mfi.eu

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: icsc.europe@icsc.org 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: communications@immofinanz.com 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 01communication@neinver.comwww.neinver.com

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: info@redevco.comtwitter: @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: 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.

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: office@sma-austria.at 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: 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.

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

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: info@trigranitmanagement.comwww.trigranitmanagement.com

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: welcome@zumtobel.at 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: global@sonaesierra.com 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 sq m 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: service@union-investment.dewww.union-investment.de/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: info@uli-germany.dewww.uli-germany.de

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: gemma.Bradley@threalestate.comwww.threalestate.com

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.

6 | 2014/2015 ACROSS 21

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