Review of MAPIC 2014 – Day 1Digital Editor
Once again, Innesco is ‘out performing’ at MAPIC 2014 this week. For those associated with real estate and everything retail, MAPIC is one of Europe’s leading conferences with three (or five for some) solid days dedicated networking occasions and exhibitions. Celebrating its 20th anniversary, MAPIC will have over 8,300 global participants including retailers and property developers interested in city and shopping centres, factory outlets, leisure areas and transit zones.
The excitement started before the official first day of MAPIC. CBRE organised Cycle to MAPIC, in which 40 brave retail real estate professionals, including Innesco’s Manager Director Dan Innes, cycled a 3-day trek from Milan to Cannes for MAPIC. Yesterday afternoon, 50 esteemed industry professionals discussed the future of digital and in-store commerce in light of digital technology. The Majestic Hotel and Thor Equities kicked off MAPIC with a bang at Tuesday night’s Opening Night Party.
International partnership was evident in the news from Day One. Unibail-Rodamco discussed two projects due to open next year, Polygone Riviera in the South East of France and Mall of Scandinavia in Stockholm, as well as future projects Palma Springs in Palma de Mallorca, Wood in Wroclaw in Prague and The Scheme in the Netherlands. TriGranit Management Corporation has entered the MENA region by winning the leasing mandate for Cleopatra Mall in Cairo. Hammerson, APG, Meyer Bergman and Value Retail have entered a joint venture, Via Outlets, encompassing three outlet malls in Portugal, Sweden and the Czech Republic. GIC, Singapore’s €80 billion sovereign wealth fund, demonstrated its confidence in the real-estate arm of Turkey’s Ronesans Group by investing €250 million to acquire new business in Turkey’s main cities, execute an existing 460,000 development pipeline and own 20% stake in Turkey’s leading CRE platform.
Retail real estate professionals have risen to the challenges of the changing marketplace. Ailish Christian-West, head of Land Securities’ shopping centre portfolio, explained how retailers are strategically adapting and analysing the structural changes in the industry by reviewing estates, considering store numbers, utilising larger stores as showrooms, and pinpointing desirable locations and trade. Similarly, Media Saturn, who is due to open their 1,000th store, credits their success on an omni-channel strategy called Commerce Everywhere that allows them to open diverse stores from flagships to small outlets.
Transformation was a noticeable theme at Day One. Coresi, the largest urban regeneration project in Romania, aims to be 100-ha upon completion and the first 24-ha phase is currently being developed by Immochan to include 130 shops and restaurants, an eight-screen multiplex, and indoor and outdoor leisure areas with hyper-market. CC Property expertly adapted their original sports stadium scheme for project CC Stadion to a leisure-focused two-floor mall with roof garden and celebrated the success at the opening last week.
Russia dominated Day One as Impress Media organized a day of breakfast and dinner events, as well as a panel discussion. Furthermore, Magazin Magazinov demonstrated Russia’s market maturity by introducing Promresurs’ Europa shopping and entertainment centre in Kursk and the Electronika group and Marins Group’s Nebo centre in Nizhny Novgorod – both have solid construction dates in 2014 and 2015.
Altogether, Day One was a roaring success with the Palais packed to the brim and the Boulevard de la Croisette awash with everyone from the world of property and retail sporting discerning choices of fashion from pin-stripe Saville Row suits to moleskin jackets and deck shoes, lets hope the weather favours Raybans not umbrellas!
Images courtesy of Cycle to.. MAPIC