Cross Section of Projects and Openings ACROSS Europe

Liffey Valley shopping center in Dublin is growing by 22,000 sq m of net space, 1,800 parking spaces, major civic plaza, and 2,500-seat Olympic-sized indoor ice arena.

Hamburg-based Prelios Immobilien Management GmbH has specialized in retail properties in German city centers.

The Mall of America measures 390,000 sq m of total area and is home to around 520 stores. An extension with 520,000 sq m is under development.

Redevco is creating Promenade Sainte-Catherine, an open-air shopping precinct, in the heart of the French metropolis Bordeaux.

The European market for retail real estate remains dynamic. The coming year will again see many malls, department stores, and retail parks open their doors. ACROSS showcases a few select projects.

Unibail-Rodamco invested €150 million in the modernization of this traditional shopping center in Bochum. It is now positioned as one of the leading lifestyle destinations in the Ruhr region.

Fischapark in Wiener Neustadt recently presented its new dimensions. The operator, SES Spar European Shopping Centers has invested over €100 million in a refurbishment and expansion project at this traditionally successful trading location in Southern Lower Austria over the past three years.

The UK shopping center development pipeline currently stands at 890,000 sq m to the end of 2018, according to research published from DTZ.

The United States is the “Country of Honor” at this year’s MAPIC. ACROSS reveals a selection of the retail projects in the Land of Opportunity that will be presented in Cannes.

As in past years, the top players in the industry are providing a glimpse at their current retail projects at MAPIC in 2015. ACROSS makes a foray into the most extraordinary new developments, extensions, and refurbishments to be presented in Cannes.

The Ringstrassen Galerien in the heart of the Austrian capital are among the country’s top retail areas. The turnover per square meter has for years been well above the average for Austrian shopping centers. Now the site has been prescribed a comprehensive facelift. The future Opera Mall Vienna (its new marketing name) will be positioned as “The Home of Affordable Luxury.”

Nikolas Löhr and Bernd Hofer of the FREO Group explain the Mall of Switzerland’s unique selling propositions. It is scheduled to open in autumn 2017.

The Capital Plaza in Podgorica boasts around 93,000 sq m of space. Two firms from the United Arab Emirates provided the investment, the size of which remains undisclosed.

In Machelen, north of Brussels, Uplace, an independent real estate group in the lifestyle business, is building Uplace Brussels. The concept intends to be beyond what is available in shopping centers in Belgium.

By opening architecturally outward, the Weberzeile fuses with downtown Ried. Total integration is the new shopping center’s motto. Patios, windows, and balconies provide communication between the users and the environment.

There are many shopping centers named Riviera. Another not-too-small one – with approximately 100,000 sq m of GLA – will open next spring in Moscow.

The groundbreaking for the new Mölndal Galleria and the transformation of Mölndal’s city center took place on 27 August in a ceremony held on the construction site. The event was jointly organized by Citycon, NCC, Riksbyggen, and MölndalsBostäder, the four companies investing in the scheme.

The transport hub is getting even more sales space. The reason is that the operator primarily sees growth in the profitable non-aviation portion of the business.

The Istanbul New Airport is set to become the largest of its kind worldwide. Its opening is planned for the end of 2018. Around 53,000 sq m of retail space will sweeten passengers’ stays there.

Henrik Stadigh, Director Shopping Centers, and Pia Arrhenius, Senior Vice President, Corporate Planning and IR, tell ACROSS that the Finnish real estate investment company Sponda will concentrate in the future on office space and shopping centers.

Honfleur Outlet is the new shopping destination for Normandy. Phase 1 of the 18,000-sq-m project is to open its doors in spring 2017.

Strong interest from retailers and customers’ positive views of outlets mean a bright future for Russia’s outlet centers. There is potential to launch 25 to 30 new projects in the next 10 to 15 years.

Austria’s SCS was recently declared a 4-star shopping center. 20 of Unibail-Rodamco’s 73 malls now boast this certification related to quality of stay and service.