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Development

CURRENT PROJECTS, TRENDS AND STRATEGIES OF DEVELOPERS

Ukrainian Council of Shopping Places, a member of the European Council of Shopping Places (ECSP), has published a report providing insights on how retail destinations are adapting to the war and the impact it is having on the market. This report, which is exclusive to ACROSS, calculates losses and damages suffered by the shopping centre industry, retail turnover losses and shows reopening plans for some shopping centres.

Reify. is Sonae Sierra´s rebranding of its real estate expertise activity which reinforces its commitment to offering multidisciplinary services to investors and developers. ACROSS spoke with Jorge Morgadinho, Reify.’s Executive Director, about the first business year after the rebranding.

Property developer and asset manager, Sovereign Centros, has submitted a planning application outlining its masterplan proposals for the reimagination of St. Enoch Center in Glasgow. The mixed-use development puts focus on retail, leisure, entertainment, hotel, offices, and city center living.

AG Real Estate is on the verge of completing the extensive renovation and extension works it started in 2019 in Westland Shopping Center in Anderlecht (Belgium). The program includes the arrival of a large department store and a number of new retailers, the expansion of the Food & Beverage offer, and the creation of a leisure center of over 4,000 sq m.

TORG International will collaborate with Start Concept on leasing the first outlet in Brussels. Construction of the entire project is well advanced with an opening planned for late 2023.

Mitiska REIM announced the completion of transforming the Retail Centre De Lely, located in the Dutch city of Arnhem. Acquired in July 2018, a 30-month value-add programme has now been completed which has remodeled the look, layout, and tenant mix of the convenience center.

The project is developed by HG Invest in cooperation with FOC Retail Service GmbH and Outlet Evolution Services. On an area of more than 20,000 sq m, 70 shops and several hundred new jobs will be created in two phases. Its first phase will be opened in 2023, phase two is scheduled for 2026.