From the Inside Out .......................... .7Commentary.by.Reinhard.Winiwarter

Creating an Even Stronger Voice in Brussels ......................................... .8Commentary.by.Michael.P..Kercheval

The Development Pipeline Will Recover, but Some Markets Will Have to Be Patient ................... .10Commentary.by.John.Strachan

The Role of Architects and Engineers in Maintaining the Value of Retail Assets ............... 12Commentary.by.Christoph.M..Achammer

Shopping Centers: A Mix of Meaningful Propositions ................. 14Commentary.by.Fernando..Guedes.de.Olveira

Smart City – Smart Shopping.......... 16Commentary.by.Marcus.Wild

Bucharest’s Leading Malls Take Off.............................................. 18Commentary.by.Friedrich.Wachernig

Projects & Openings........................... 22Project,.openings,.and.other.shopping.center.news

Illustrious Developments ................30ACROSS.takes.a.look.at.the.outstanding.projects.to.be.presented.at.MAPIC.this.year

Reasons to Return........................... 36The.right.combination.of.popular.inde.pen­dent,.national,.and.well­established.inter.­.national.brands.for.each.catchment.area.is.crucial.for.a.successful.tenant.mix,.says.Markus.Meijer,.CEO.of.Meyer.Bergman

Opening Soon .................................. .40From.November.13th,.visitors.of.the.Jaude.Center.in.Clermont­Ferrand.can.look.forward.to.more.shopping.space

Bon Appétit ...................................... .42From.food.as.a.necessity.to.food.as.an.experience:.Why.the.industry.is.searching.feverishly.for.innovative.culinary.concepts

Whetting Consumers’ Appetite – with Culinary Offerings in Shopping Centers............................................. .46By.strengthening.their.culinary.offer,.owners.and.operators.are.trying.to.better.position.their.centers,.say.the.experts.from.Gfk.Geomarketing.

The “Do’s” and “Don’ts” of Doing Food in Shopping Centers.........................52Foodservice.Column.by.Jonathan.Doughty

Center Foodservice and Lease Law: Avoiding Conflict through Proper Contract Design .............................. .54Rainer.Burbulla,.Partner.at.Grooterhorst..&.Partner,.analyzes.the.legal.situation.in.Germany

Demographic Change and Its Impact on Commercial Real Estate in the Regions..............................................20Commentary.by.Rainer.Kundörfer

2 ACROSS 5| 2013

“Retail Never Rests” .........................58A.trend.towards.smaller.average.shop.sizes.can.be.seen.at.Larry.Smith.Italia

After the Survey .............................. .62About.half.a.year.ago,.ECE.published.a.large­scale.study.on.multichanneling..ACROSS.asks.what.has.happened.since.then

For Shopping Centers, Too, the Future Is Energy Management ................... .64Atalian.Global.Services.and.Ergelis.have.recently.launched.a.joint.venture.solution.for.energy.management

“Center Management Is Not Yet Well Developed in this Country” ............ .66Brigitte.Schmitt,.Managing.Director.at.Oasis.Consult.Shopping.Center.Services,.explains.the.peculiarities.and.challenges.of.the.Romanian.market

Spanish Retail Developers’ Nightmares ...................................... .68The.lack.of.cash.or.credit.appears.to.be.the.standout.“nightmare”.for.senior.real.estate.developers.in.Spain

Christmasworld Trends 2014/2015.............................86“Refine.the.style.and.touch.the.spirit”.is.the.credo.for.trends.in.the.coming.season

PRCH Business Mixer.......................90On.December.4,.the.Polish.Council.of.Shopping.Centers.(PRCH).is.organizing.the.third.PRCH.Business.Mixer.in.WarsawThe First of Its Kind in London? ......78

Quintain.opens.London.Designer.Outlet,.allegedly.the.first.designer.outlet.center.in.the.British.capital

Retailing in Slovenia – Looking for Sustainability in Turbulent Times ...........................80Since.the.introduction.of.multiparty..representative.democracy.in.1991,.the.country.has.experienced.remarkable..development

E-Commerce Keeps Growing ...........84EHI.and.Statista.have.published.a.study.on.the.thousand.largest.online.shops.in.Germany

Asians Are Increasingly Investing in European Commercial Real Estate ......................72That.is.the.core.message.of.a.recent.study.by.DTZ

Retail Centers Are Becoming Their Own Asset Class ..................................74Investors.are.focusing.on.commercial.real.estate.and.on.German.retail.centers.within.this.segment

North American Investors the Strongest Buyers ..........................76UK.and.German.markets.still.top.investor.shopping.list

5 | 2013 ACROSS 3

Strategic Partners:

Media Owner: ACROSS.Medien­.und.Verlags.GmbH.

Address of Media Owner, Publisher and Editorial Office: ACROSS.Medien­.und.Verlags.GmbH,.Rotenturmstraße.17,.1010.Vienna,.Austria..Phone:.+43.1.533.32.60­80Fax:.+43.1.533.32.60­15www.across­magazine.com

Publisher:.Reinhard.Winiwarterr.winiwarter@across­magazine.com

ACROSS.is.the.trade.magazine.for.Europe’s.shopping.center.industries..The.indepen­dent.magazine.informs.about.latest..shopping.center.projects.and.brings.rele­vant.news.to.readers.in.the.sector.in.top­quality.on.approximately.one.hundred.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.the.retail.and.catering.sectors,.consumer..issues,.as.well.as.commentaries.from..leading.experts..The.magazine.is.pub­lished..entirely.in.English.with.an.exclusive.

.circulation.of.18,000.copies.in.forty.

.European.countries,.reaching.the..industry’s.decision.makers.directly.

Editor-in-Chief:.Heinz.Erdmannh.erdmann@across­magazine.com

Assistant.Editor-in-Chief:.Claudia.Aignerc.aigner@across­magazine.com

Art-Director:.Klaus.Rauch

Layout:.Katrin.Fail

Advertisements:.Reinhard.Winiwarterr.winiwarter@across­magazine.com

Cover:..sma,.Prospektus.Nyomda

Printed by:.Prospektus.Nyomda.

www.across-magazine.com

ACROSS Subscription:

EUR 119,00 .for.6.issues.(1.year)

Subscribe.online.at:..www.across-magazine.com

or.send.an.E­Mail:..office@across-magazine.com

Networking Partners:

Swiss Council ofShopping Centers

4 ACROSS 5| 2013

reinhard WiniWarter

Publisher of ACROSS Magazine and Managing Director of sma

In.the.19th.century,.the.famous.German.playwright.Friedrich.Heb­bel.wrote.a.sentence.that.Austrians.still.fondly.recall:.“Austria.is.a.small.world.in.which.the.big.one.rehearses.”.After.almost.two.hun­dred.years.more.experience,.this.sentence.is.still.pretty.to.most.Austrians,.but.not.necessarily.any.more.correct..The.good.thing.is:.We’re.working.on.exceptions..

One.of.them.is.located.in.Vorarlberg,.specifically.in.Bregenz..It.is.there.that.SES.and.the.Prisma.Group.are.developing.Seestadt.Bre­genz,.a.multifunctional.district.in.the.middle.of.the.city’s.down­town.area..The.special.thing.about.it.is.that.the.neighborhood.and.the.planned.retail.space.are.located.directly.on.Lake.Constance..The.developers.are.taking.this.into.account.and.making.the.proj­ect.architecturally.and.factually.a.part.of.its.environment..This.is.an.interesting.approach,.which.in.my.opinion.will.become.more.and.more.common..True.to.the.motto:.The.shopping.center.has.to.be.consistent.with.its.surroundings..It.has.to.break.away.from.being.an.isolated,.separate.building.structure.and.communicate.with.its.environment..

Another.very.successful.example.of.an.open.and.pioneering.retail.property.is.the.Skyline.Plaza,.which.recently.opened.in.Frankfurt..The.roof.of.the.shopping.center,.openly.accessible.to.the.public.at.all.times,.is.a.platform.that.takes.communication.and.recreation.spaces.to.a.higher.level..Green.spaces,.a.restaurant,.pub.gardens,.playgrounds,.and.an.observation.deck.invite.visitors.to.linger..The.shopping.center.is.again.taking.on.the.function.for.which.it.was.originally.intended:.It.is.a.meeting.place,.marketplace,.and.place.for.entertainment.and.relaxation.at.the.same.time..

The.optimistic.spirit.that.contemporary.real.estate.developers.are.now.devoting.themselves.to.seems.to.be.spreading.–.hopefully.for.the.long.term..There.are.already.signs..We.have.seen.an.increas­ing.trend.towards.open.malls.in.the.United.States.as.well..Some.refurbishment.projects,.for.example,.feature.opening.up.roof.structures..It.is.also.noteworthy.that.the.desire.of.operators,.de­velopers,.and.customers.for.openness,.the.environment,.and.na­ture.can.be.satisfied.in.urban.and.suburban.centers.alike.

BY ReinhaRd WiniWaRteR, iMaGe: sMa

FRoM the inside out

5 | 2013 ACROSS 5

There.has.been.some.exciting.news.for.ICSC.of.late..Over.the.past.18.months,.we.have.struck.membership.agreements.with.several.other.national.councils.beginning.with.the.German,.British.and.French.Councils.in.Europe.and.more.recently.the.Shopping.Center.Association.of.India.(SCAI).and.the.Shopping.Center.Council.of.Aus­tralia.(SCCA)..The.latest.agreement.was.announced.earlier.this.month.with.the.South.African.Council.of.Shopping.Centers.(SACSC).which.will.take.effect.on.January.1,.2014..

The.impetus.for.these.agreements.began.in.our.European.office.and.that.region.has.certainly.seen.the.greatest.impact.from.the.various.agreements..In.Europe.alone,.our.membership.is.up.by.over.60%.from.last.year.and.has.tripled.in.size.from.two.years.ago..Through.these.agreements.in.Europe,.we.are.creating.a.clear.and.unified.voice.when.we.lobby.on.behalf.of.the.industry.in.Brussels..By.joining.our.like­minded.associations,.we.are.able.to.identify.key.issues.for.our.industry.and.present.them.to.policymakers.in.not.only.a.more.unified.manner,.but.also.using.a.much.stronger.collective.method..We’ve.been.able.to..make.policymakers.realise.that.shopping.centers.are.a.fiscal.engine.for.economic.growth.in.our.cities.and.towns.–.and.we’ve.been.able.to.bring.the.fight.for.sales.tax.equality.to.the.fore­front.of.the.discussion.in.Brussels.as.well..Currently,.internet­only.sellers.are.provided.a.huge.advantage.in.that.they.are.not.forced.to.collect.sales.tax.at.the.point.of.purchase.like.their.bricks­and­mortar.counterparts..Not.only.do.we.need.to.level.the.playing.field.to.create.a.fair.and.balanced.marketplace.where.government.is.not.picking.winners.and.losers,.we.also.need.a.level.playing.field.to.ensure.that.our.retailers.and.shopping.centers.continue.to.be.the.vibrant,.econ­omy­driving.social.meeting.places.that.they.have.always.been.

CReatinG an even stRonGeR voiCe in BRussels

In.this.same.vein,.we.have.created.an.industry.CEO.Forum.that.brings.together.the.most.influential.people.in.our.industry.in.Europe.to.dis­cuss.the.pressing.issues.that.they.see.as.“top.of.mind”.for.the.retail.real.estate.industry..By.gathering.over.thirty.CEOs.together.each.year,.we.can.get.a.clearer.picture.of.the.major.trends.that.they.see.in.their.day­to­day.industry.dealings.as.well.as.understand.the.potential.is­sues.that.we.will.want.to.try.to.address.with.the.EU..With.the.indus­try.being.vastly.different.in.terms.of.needs.and.concerns.across.Eu­rope,.it.is.extremely.important.that.we.continue.to.gather.information.from.top.executives.in.our.industry.to.ensure.that.we.have.a.clear.picture.of.what.ICSC.can.provide.our.members.in.the.region.and.have.a.unified.voice.when.it.comes.to.the.efforts.to.enact.policy.

While.we.continue.to.work.on.creating.an.even.stronger.voice.in.Brussels,.ICSC.is.also.looking.at.how.research.can.be.a.significant.factor.for.our.members.throughout.Europe..We.are.working.on.mak­ing.our.research.timelier,.so.that.our.members.can.react.faster.to.changes.in.the.marketplace,.as.well.as.research.that.looks.at.both.country­specific.and.pan­European.data..This.allows.us.to.offer.our.members.not.only.a.perspective.of.what’s.happening.in.their.back­yards,.but.also.a.comprehensive.industry.picture.across.the.conti­nent.as.well.

BY MiChael P. KeRCheval, iMaGe: iCsC

6 ACROSS 5| 2013

Michael P. Kercheval

ICSC President and CEO

Successful investment is not about size.It’s about the long-term prospects.As an equity-rich player with strong shopping-centre expertise, Union Investment offers its partners a high level of transactional reliability. We currently own 39 shopping centres across 10 countries, making ours one of the largest and most prestigious retail portfolios in Europe. Our investment focus is not only on large-scale properties, but also on strong, established retail parks. With over 45 years of experience in the field, we know what it takes. Our success proves us right – and our partners.

www.union-investment.com/realestate

In 2012, Union Investment received the Eurobuild Award for the Best Investment in Central and Eastern Europe for its Manufaktura shopping centre in Łód z.

#330728 UIR_Shopping_Center_Ad_across_210x275mm.indd 1 10.09.13 11:30

the develoPMent PiPeline Will ReCoveR, But soMe MaRKets Will have to Be Patient

The.economic.recovery.is.stabilizing,.but.many.smaller.towns.and.shopping.centers.have.emerged.battered.and.badly.bruised..Will.they.recover?.It.is.too.early.to.say..Surely.some.will.reinvent.them­selves,.but.some.will.not.survive.–.and.it.is.unlikely.that.they.will.be.joined.by.new.projects.in.the.near.future.

And.what.of.prime.centers?.Capital.city.streets.–.especially.those.marketing.luxury.–.continue.to.trend.upwards.with.ever.increased.demand.from.retailers.and.rising.rents..The.better.shopping..centers,.however,.with.footfall.and.sales.remaining.fairly.static.in.most.markets,.have.had.to.take.stock,.manage.retail.failures,.re­configure,.and.adjust.their.sizes..Nevertheless,.I.believe.they.are.emerging.from.the.recession.stronger.and.more.competitive..They.offer.full.ranges.in.flagship.stores.from.leading.brands.and,.in.many.cases,.a.great.leisure.and.dining.experience..

Where.does.all.that.leave.the.prospects.for.new.development?.Current.activity.is.strongly.focused.on.major.centers.in.Central.and.Eastern.Europe.and.Turkey,.with.over.5.million.sq.m.in.the.pipeline,.but.France,.Italy,.and.Germany.are.already.planning.over.2.million.sq.m.of.new.shopping.center.space,.and.there.are.now.signs.of.significant.planned.activity.in.the.UK.and.Spain.

BY John stRaChan iMaGe: CushMan & WaKeField

John Strachan

Partner and Global Head of Retail at Cushman & Wakefield

8 ACROSS 5| 2013

5 | 2013 ACROSS 9

Enlightening your vision.

Visionary conceptual festive lighting in every aspect.

www.mk-illumination.com

AT_Across_210x275_09.2012.indd 1 05.09.2012 11:22:02

When.you.take.part.in.investor.conferences.these.days,.you.get.the.impression.that.there.is.nothing.worse.than.owning.a.shopping..center.in.Bucharest..Whether.it.is.a.lack.of.purchasing.power,..particularly.persistent.effects.of.the.Europe­wide.political.and..banking.crisis,.or.problems.with.stray.dogs.–.you’re.constantly..confronted.with.a.mix.of.half­knowledge.and.prejudices..In.2010,.we.opened.the.largest.shopping.center.in.Bucharest.with.80,000.sq.m.of.space..I.would.be.lying.if.I.said.that.it.has.been.nothing.but.roses.for.us.and.our.tenants..But.I.can.certainly.tell.you.that.Sun.Plaza.has.brought.us.a.great.sense.of.achievement.so.far.and.will.definitely.continue.to.do.so.in.the.future..And.this.statement.is.not.based.on.my.personal.conviction.alone..

Bucharest.is.the.sixth­largest.urban.agglomeration.in.Europe,.with.over.2.2.million.residents..As.the.capital,.it.has.the.highest.purchasing..power.in.the.country,.and.numerous.industrial.companies.are.based.here.along.with.the.national.government..With.0.4.sq.m/resident,.the..ratio.between.modern.retail.space.and.residents.remains.in.the..lower.mid­range.compared.with.other.Eastern.European.capitals..

BuChaRest’s leadinG Malls taKe oFF

The.retail.industry.has.certainly.seen.an.increase.in.revenues.in..recent.years,.but,.more.importantly,.it.is.becoming.consistently.more.professsional..Prominent.international.tenants.such.as.IKEA,.H&M,.Zara.and.Peek&Cloppenburg.continue.to.gain.ground..As.a.result,.the.quality.requirements.for.shopping.center.managers.and.owners.have.also.increased.considerably..The.management.of.factors.that.are.decisive.for.operating.a.shopping.center.successfully.(sector.mix,.contract.standards,.contract.implementation,.seasonal.decoration,.high­class.events).are.now.comparable.to.the.standards.of.Western.European.shopping.centers..Large.shopping.centers.in.particular.have.used.the.last.few.years.to.do.their.homework..They.optimized.their.offerings.and.expanded.their.market.position.–.while.smaller.centers.have.steadily.become.less.relevant.

The.forecasts.of.international.real.estate.experts.predict.sustainable.economic.development.for.the.country.and.indicators,.such.as.the.constantly.progressing.expansion.of.office.space.over.the.last.few.years,.are.leading.to.a.positive.outlook.in.the.industry..Revenues.per.square.meter,.which.are.already.higher.than.for.Western.reference.properties.in.some.cases,.are.still.rising.and.it.is.certainly.no.surprise.that.one.can.achieve.attractive.rents.due.to.the.low.number.of.well­positioned.shopping.centers..Shopping.center.developments.that.were.put.on.hold.during.the.crisis.years.are.now.being.resumed,.which.is.another.sign..for.the..projected.positive.market.development.

Naturally,.the.upswing.that.is.gradually.starting.to.take.hold.in..Romania.will.be.an.arduous.process..Although.there.are.many.signs.of.recovery.at.various.levels,.we.do.not.expect.an.explosive.upturn..Following.the.boom.years.at.the.start.of.the.21st.century,.however,.I.think.it.is.time.to.trust.in.the.city's.healthy,.organic.growth..I,.for.one,.believe.just.as.strongly.in.Bucharest’s.retail.market.as.I.believe.that,.in.a.few.years,.investors.will.once.again.have.dollar.signs.in.their.eyes.instead.of.butterflies.in.their.stomachs.when.they.think.about.shopping.centers.in.Bucharest.

BY FRiedRiCh WaCheRniG, iMaGe: sChenK

Friedrich Wachernig

Member of Board at S Immo AG

10 ACROSS 5| 2013

1.5 billion visitors

Connect to the right shoppersFeel good in a calm yet stimulating atmosphere. Discover a wide and ever-changing range of brands, products, and services, an inexhaustible source of desire, delight, and inspiration.

This is what visitors like most about centers by Klépierre, the European shopping-center specialist.

www.klepierre.com

K-Ann-Across210x275.indd 1 06/09/13 10:23

Ima

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Pen

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david thoMaS

Rockspring has announced its appointment of David Thomas as European Director, in charge of the Fund Accounting team reporting to Frances Harnetty, Partner, Fund Accounting and Administration. As a European Director, his primary responsibilities will include overseeing the fund accounting department and monitoring fund ac - counting and administration processes across all Rockspring funds. Thomas has vast experience across industry sectors working for both public and private organi zations. Prior to joining Rockspring, he worked at PricewaterhouseCoopers LLP for nine years, where he specialized in investment management and real estate, working with listed real estate companies and European real estate funds under UK GAAP and IFRS.

Ima

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Ra

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PENTA BEGINS CONSTRUCTION OF BORY MALL

the Central european investment group Penta started construction of a shopping and entertainment center in Bory located between Bratislava's city quarters lamac and devínska nová ves. Construction will be divided into two stages. the first one should be completed within two years. the total investment will amount to more than €150 million. over 50,000 sq m of Gla will be created in the first stage, with tenants already secured for more than half of all retail spaces. Following completion of the first stage, the second phase will be launced immediately. the following brands will operate their stores in the Bory Mall: h&M, lindex, new Yorker, intersport, a3 sport, alltoys, Billa, Panta Rhei, and other stores, a big fitness center, as well as a wide array of services and refreshments. visitors can look forward to a unique concept for children, which will be located inside and outside the mall. the shopping center Bory Mall wants to meet the shopping needs and expectations of the citizens of the city quarters devínska nová ves, lamac, and dúbravka, as well as the needs of customers from Záhorská Bystrica, devín, and Záhorie. the studio of italian architect Massimiliano Fuksas designed the project. the investment loan for the construction of the shopping center Bory Mall was provided by a consortium of four banks: uniCredit, vÚB, CsoB, and hypo-Bank Burgenland.

SLOVAKIA

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INAUGURATION IN BUCHAREST

Raiffeisen evolution, the developer of Promenada, the new shopping center located at the junction of Floreasca Road, Pipera Road, and Barbu vacarescu street, has announced that the center was inaugurated on october 17. the build-ing comprises six levels. the first two under-ground floors are designated for parking, whereas the other four levels host Promenada’s shopping area, which measures 35,000 sq m. the shopping center hosts renowned retailers like Cacharel, Calzedonia, Cielo venezia, ecco, help net, h&M, il Passo, intimissimi, Yves Rocher, Musette, oysho, Peek & Cloppenburg, Roberto Bravo, sabon, sephora, starbucks, stradivarius, swarovski, Zara, and Zara home. the total investment exceeds €130 million. Raiffeisen evolution has paid particular attention to the quality of construction by using modern materials that make the project the hallmark of a new generation of shopping centers. “Promenada will be a new center of attraction in the northern part of the capital, offering the public an attractive tenant mix, new concepts for the Bucharest retail market, and an outdoor terrace measuring over 7,000 sq m. the terrace will function as a green garden during the summer and an ice skating rink during cold season, allowing every kind of customer to choose a place to escape the rush of the metropolis,” says Markus neurauter, Managing director of Raiffeisen evolution.

ROMANIA

12 ACROSS 5| 2013

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PARTIAL OPENING OF THE COUNTRY’S LARGEST OUTLET CENTER

one Fashion outlet in voderady will be the largest outlet center in slovakia. the construction project has a total value of €65 million and is split into three phases. its total retail space will span over 36,500 sq m. once completed, the outlet center will have approximately 130 stores with almost 2,500 parking spaces available to visitors. its great advantage will be accommodating open-ing hours - seven days a week, twelve hours a day. the first phase of the project opens its doors at the end of october, 2013 and offers more than 70 fashion and sports stores on a retail area of 15,000 sq m. it requires an investment of €30 million and offer nearly 300 jobs. this largest slovak outlet will continue to grow in Jozefov dvor near voderady in the trnava region. the trnava region scored tenth in the top 25 in a large study that looked at thou-sands of eu regions to find the most favorable for investments. Moreover, this region has the highest purchasing power in the country, comparable to the most developed regions in the eu. one Fashion outlet will be accessible to 4.8 million people within a travel time of 90 minutes.

SLOVAKIA

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CONSTRUCTION IN STOCKHOLM

the multifunctional building “orgelpipan 6” rises from the construction site around the Citybanan commuter train station in stockholm, the largest terminal in sweden. strabag Projekt utveckling, the swedish subsidiary of the european construction company strabag se, is the general contractor and development partner. twenty apartments on the upper floors will offer pano-ramic views over the river Riddarfjarden. a scandic hotel with more than 400 rooms will be located right below. orgelpipan 6 will include a shopping area and a commuter train station as well. a substantial multi-million investment is planned for its development and construction which will be completed by december 2015. there will be a direct underground connection from orgelpi-pan to the €2.5-billion infrastructure project “Citybanan,” wich will be com-pleted in 2017. Citybanan adds two new underground railway lines, which will increase stockholm’s transport capacity and thus its competitiveness.

SWEDEN

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By creating and managing places in a safe, clean, reliable and sustainable environment TGM strives to provide its Clients with value

through transparency, understanding and efficiency for tenants; sustainability, reliability and responsibility for landlords and owners of

retail, office, cultural or leisure facilities through its high quality services.

Visit Us At MAPIC - Stand R36.19.

COMPLETION OF $86 MILLION PROJECT

the Cadillac Fairview Corporation limited and ivanhoé Cambridge, co-owners of Galeries d’anjou in Montreal, completed the shopping center’s $86 million expansion and redevelopment project. over the last 24 months, the well-known landmark has undergone a complete transformation and welcomes Quebec fashion leader, simons, and other new retailers. the 100,000 square foot, two-level simons store at Galeries d’anjou represents an investment of $25 million and has led to the creation of some 200 jobs. With the addition of target and sephora in mid-october, Galeries d’anjou’s gross leasable area reaches 1.1 million sq ft (102,000 sq m). the redevelopment project also included a complete makeover of the common areas, the construction of a new food court, and underground parking for 160 vehicles beneath the simons store.

SONAE SIERRA STRENGTHENS POSITION IN BRAzIL

sonae sierra, through its subsidiary sonae sierra Brasil, has announced the expansion and refurbishment of Franca shopping in the state of são Paulo. the total investment amounts to around €31 million, including the acquisition of the site for the center’s expansion. the expansion of Franca shop-ping will increase and improve the shopping center’s commercial and leisure offers with 68 new shops and 649 new parking spaces on about 11,000 sq m of new Gla, enabling the center to almost double its offer to 30,000 sq m of Gla. the shopping center will also undergo a refurbishment process which will create a new ambiance and improve the visit experience for its customers. Construction works for expansion and refurbishment will begin this year and are scheduled to be completed in the last quarter of 2014. With the expansion of Franca shopping, sonae sierra strengthens its position in Brazil where it currently owns nine shopping centers and manages two other malls for third parties. in the past two years, sonae sierra has invested more than €331 million in Brazil, generating more than 11,000 jobs in its recently inaugurated uberlândia shopping, Boulevard londrina shopping, and Passeio das Águas shopping which is currently under construction and scheduled to be inaugurated this year. it has thus strengthened its ongoing investment in the country.

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LIBERTY CENTER TO OPEN IN OHIO 2015

With the liberty Center poised to emerge as the premiere mixed-use development in greater Cincinnati, its co-developers steiner + associates and Bucksbaum Retail Properties are thinking big. set to open in 2015, the first phase of the project will include approximately 102,000 sq m of diverse and dynamic retail, dining, and entertainment options, including 5,800 sq m of restaurant and dining and a 6,200-sq-m cinema. a 64-acre site conveniently located at the newly constructed $55-million inter-change at i-75 and sR 129, a major east-West connector, liberty Center

counts accessibility and demographic strength among its many assets. the Greater Cincinnati marketplace includes 2.2 million residents, making it the largest in the state of ohio. Within that market, perhaps no single region is hotter or more desirable than the young, affluent, and fast-growing communities of north Cincinnati. the north Cincinnati communities of liberty town-ship, Mason, and West Chester that surround liberty Center are ideally situated at the center of the high growth i-75 corridor that connects Cincinnati and dayton and are consistently ranked by the national media as top places to live and raise a family.

CANADA

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14 ACROSS 5| 2013

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EBRD FINANCES MALL IN AMMAN

the european Bank for Reconstruction and development (eBRd) is supporting the development of a new shopping and entertainment center in amman that will create jobs and increase economic growth in the Jordanian capital. the goal of the $80 million (€59 million) loan is to stimulate environmentally friendly regeneration in the city. the center will provide a higher quality retail and entertainment experience for the people of amman and its surrounding areas. it will help stimulate further investment in amman and support the city’s development as a regional business hub. the eBRd financing will place a high priority on efficient use of energy and the recycling of water at the new complex – the abdali Retail and entertainment Center. efficient energy and resource utilization is crucial in Jordan, given that it imports 97% of its energy and is one of the driest countries in the world. the mall is expected to attract international and local retailers, and will include restaurants, cinemas, and a children’s entertainment area. it will also provide space for small producers and traders to sell local products. the construction will involve advanced technology aimed at ensuring environmental sustainability, in-cluding the use of natural heating and cooling, natural lighting, and extensive water recycling, which should lead to energy and water savings of about 50% in comparison to similar projects in the country. the project will also provide substantial skills transfer by offering training opportunities to young entrants into the labor market at a dedicated on-site training facility.

SIBERIAN TRANSACTION

amstar recently announced the sale of the aura shopping center in the siberian city of novosibirsk to Roseuro development. the exact terms of the transaction were not disclosed. amstar and Renaissance development built the aura shopping center together, which opened in 2011. the mall comprises more than 200 stores and 61,000 sq m of lettable area across four levels. the center is just a five minute walk from lenin square and the city’s main street Krasny Prospekt. aura is the first mall in novosibirsk that is 100% leased. the shopping center includes an okey hyper-market and MediaMarkt. here you find some of the most popular retailers in Russia: Zara and other inditex brands, sportmaster, adidas, and new Yorker. aura will be the sec-ond in-service shopping center in Roseuro’s portfolio.

JORDANRUSSIA

We offer tailor-made financing solutions on three continents.Our strength in the area of property financing is closely linked to our collaboration with international experts and our local teams. Our Retail Properties Team consists of specialised professionals who are closely connected with our branches. A deep understanding of international finance and our spe cific retail know-how enable us to effi ciently, effectively and promptly plan and realise structured financing projects together with investors of shopping centres and retail parks.

Find out more on www.aareal-bank.com/retail-properties

Or contact us: Aareal Bank AG · Retail Properties TeamPhone: +49 611 348 2341 · E-mail: retail@aareal-bank.com

Retail

Properties

Anyone.who.has.ever.strolled.hungrily.through.Westfield.London.has.already.experienced.it:.the.agony.of.choice..In.hardly.any.other.shopping..center.is.the.foodservice.offer.as.huge.as.in.the..European. flagship.mall.par.excellence..23..restaurants.and.a.whopping.44.takeaway.outlets.vie.for..customers’.attention..Needless.to.say.that.the.range.of.offers.in.the.center.is.a.mirror.image.of.the.top.culinary.trends.of.the.British..metropolis..If.you.love.Asian.food,.choose.something.from.Bamboo.Basket..This.brand.new.offering.from.the.Japanese.restaurant.Atami.is.chic.and.cozy.and.specializes.in.traditional.dim.sum,.green.tea,.and.a.delicious.choice.of.rice.and.noodle.dishes..House.specialties.include.clay.pot.rice,.which.is.ideal.if.you.are.in.a.hurry..The.Chi.Wok.promises.tasty.au­thentic.Asian.dishes.cooked.by.skilled.Asian.chefs.to.delight.your.taste.buds..If.you.like.it.more.pop,.you.can.dine.at.Jamie’s.Italian,.a..restaurant.by.Brit­ish.star.chef.Jamie.Oliver,.or.try.GBK,.the.Gourmet.Burger.Kitchen,.which.has..lifted.the.humble..burger.to.award­winning.heights..The.list.goes.on..

One.thing.is.clear:.With.that.many.dining.options.available.in.the.mall,.the.operators.of.Westfield.are.fully.in.line.with.the.international.trend..

Since.the.purchasing.behavior.of.Europeans.is..increasingly.polarized.between.daily.needs.and.experience,. foodservice.and.entertainment..become..more.and..more. important. for. the..shopping.center.industry..Naturally,.this.can.be.seen.in.the.tenant.mix..Whereas.just.a.few.years.ago,.foodservice.often.made.up.less.than.five..percent.of.the.tenant.mix.in.a.center,.experts.now..advise. a. level . of . 15%. or. more. on. new..developments..This.is.a.phenomenon.that.has.also.shifted.the.once.criminally.neglected.food.court.into.developers’.and.operators’.field.of.view.again..“We.see.food.courts.as.excellent..frequency.generators..We.therefore.place.them.in.prime..locations.in.our.shopping.centers,.with..thrilling.views,.natural.light,.and.spectacular.architecture..In.contrast,.developers.used.to.hide.them.in.some.out­of­the­way.corner,”.admits.the.architect.Marc.

From food as a necessity to food as an experience: Why the shopping center industry is searching feverishly for innovative culinary concepts.

16 ACROSS 5| 2013

COVER STORY

Ideally, food courts should be located in a central area of the mall that is flooded with natural light. Guests stay there for 22 minutes on average.

Blum,.Director.Creative.Design.at.ECE..Blum.adds:.“Every.successful.food.court.tells.a.story..This.can.be.one.of.relaxation.after.a.long.day.at.work,.as.in.the.case.of.Frankfurt’s.Skyline.Plaza..If.the.story.is.communicated.well.architecturally.and.visually,.it.inspires.emotions.among.visitors.”.Of.course,.awakening.emotions.is.not.the.only.purpose.of.a.modern. food.court..After.all,..shopping.centers.are.places.of.business..“Food.courts.and.restaurants.have.the.potential.to..increase.frequencies.away.from.the.ground.floor,”.says.the.ECE.expert..

AN AVERAGE OF 2.3 PEOPLE TO A TABLE

In.addition.to.increasing.visit.frequency,.food.courts.increase.the.visitors'.length.of.stay.at.the.center..This.notion.is.probably.uncontroversial..Whether.this.fact.is.well.received.by.all..participants.is.more.controversial..While.center.managers.see.the.food.court.as.an.experiential.“space”.that.in­vites.customers.to.linger,..restaurant.operators.have.very.different.interests,.explains.Jonathan.Doughty,.Managing.Director.of.Coverpoint.Food­service.Consultants:.“We.do.not.aspire.to.guests.staying.as.long.as.possible.in.food.courts..Our.goal.is.much.more.for.them.to.come.as.often.as.pos­sible..We.want.them.to.spend.their.money.there,.not.their.time..That.works.if.you..offer.a.wide.range.of.cuisine.and.fast,.but.excellent,.service.”Doughty’s.desire.is.understandable.in.terms.of.his.customers..After.all,.there.is.hardly.a.place.where.restaurateurs.face.more.competition.and.revenue.

pressures.than.in.a.food.court...“Normally,.guests.spend.about.20.to.30.minutes.in.a.food.court,.from.deciding.what.to.eat.to..leaving.the.table..The.Euro­pean.average.is.22.minutes..In.southern.countries,.visitors.tend.to.stay.longer.because.they.usually.drink.half.a.liter.instead.of.a.quarter.of.a.liter.be­cause.of.the.heat,”.says.Doughty,.who.probably.does.not.think.much.of.the.layout.of.some.food.courts..“The.size.of.the.visitor.groups.is.extremely.important..I..often.hear.from.operators.that.their.food.court.is.always.full..In.fact,.it.is.just.that.every.table.is.used.–.not.every.chair..That.is.a.big.differ­ence!.In.Europe,.an.average.of.2.3.people.will.sit.at.a..table.in.a.food.court..It.is.thus.obvious.that..tables.with.four,.five,.or.six.chairs.will.have.empty.seats...Developers.often.leave.the.details.of.food.court.design.to.building.designers,.who.usually.find.larger.seating.groups.appealing.”

DEPENDING ON THE CULTURE

This.is.an.opinion.that.creative.designer.Marc.Blum. would. probably. not. accept. without..argument..The.architect.worked.in.Los.Angeles.for.a.long.time.and.knows.the.different.architec­tural.requirements.in.an.international..com.­.parison:.“The.basic. layout.of.a. food.court..depends.greatly.on.the.particular.culture..The.Marmara.Park.in.Istanbul,.where.large.families.and.groups.come.to.dinner,.looks.different.from.one.in.a.center.in.a.small.town.in.Germany..In.addition,.you.have.to.offer.various.types.of..spaces.like.separate.booths.to.allow.guests.to.come.back.alone.or.with.other.people.”

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COOKING POP-UP STORES

The.latest.food.operation.launched.in.Klépierre’s.centers.was.“Klépierre.makes.the.menu,”.from.April.15.to.May.11,.2013..The.purpose.was.to.raise.people’s.awareness.of.better.nutritional.hygiene...It.was.developed.in.cooperation.with.the.INPES.(French..National.Institution.for.Prevention.and.Health. .Education).and. the.French.Ministry..of.Health,.in.the.field.of.the.national.program..“Nutrition.&.Health.”.Eight.of.the.centers.(Lomme,.Purpan,.Vénissieux,.Val.d’Europe,.Grand.Vitrolles,.Nantes­Beaulieu,.Grand.Sud.et.Tourville.la.Rivière).welcomed..cooking.pop­up.stores.to.test.the..service.“La..Fabrique.à.Menus”.and.to.prepare..simple.and.healthy.recipes.

St..Lazare.Paris.is.also.making.the.news..For..the.first.time,.a.three­star.Chef.has.set.up.a..restaurant.in.a.train.station:.Eric.Fréchon.opened.Lazare.in.September,.in.a.chic.and.cosy.atmo.­.sphere..The.challenge.for.the.French.chef.is.to.make.French.Haute.Cuisine.more.accessible..With.leather.club.chairs,.an.open.kitchen,.and.an.elegant.design.somewhere.between.a.café.and.a.grand.restaurant,.Lazare.is.opened.seven.days.a.week,.from.7.AM.to.midnight..By.the.end.of.the.year,.Burger.King.will.also.open.its.first.restaurant.in.Paris,.in.St..Lazare.Paris..

A.note.about.the.opening.times:.“On.days.or.at.times.in.which.the.stores.in.the.shopping.center.are.closed,.foodservice.and.entertainment.facili­ties.must.nevertheless.be.easily.accessible..For.example,.visitors.must.not.end.up.climbing.up.motionless.escalators.on.their.way.to.attrac­tions,”.explains.Christof.Papousek,.CFO.of.the..international.cinema.operator.Cineplexx..That.ought.to.go.without.saying,.but.apparently.it.does.not..Why?.He.recently.experienced.just.such.a.situation.himself.

Speaking.of.coming.back:.That.is.precisely.what.a.good.foodservice.offer.is.meant.to.achieve..In..other.words:.“Today,.food.courts.serve.to.an.extreme..degree.to.highlight.shopping.centers’.unique..selling.points,”.says.Marc.Blum..It.is.not.just.ECE.that.has.recognized.the.new.special.importance.of.foodser­vice.in.shopping.centers..The.French.industry.giant.Klépierre.also.relies.on.culinary.shopping..

Klépierre’s.strategy. in.terms.of.food.courts..is.based.on.innovation.and.avant­gardism..For..example,.at.the.launch.of.Val.d’Europe.in.2000,.the.Group.already.bet.on.their.attractiveness.with.its.dedicated.area,.occupying.12%.of.the.total.surface.of.the.center:.Les.Terrasses..It.gathers.together.all.the.restaurants’.offerings,.under.a.stunning.and.majestic.window,.bringing.natural. light.and..airiness..Regularly,.during.lunch.time,.a.pianist.en­tertains.the.clients,.from.shoppers,.center.employ­ees,.and.Sea.Life.Aquarium.visitors,.to.residents..Located.alongside.the.Canal.St.Denis,.Le.Millé­naire.also.offers.a.very.nice.location.perfect.sur­roundings.for..restaurants..And.the.best.proof.is.that.visitors.and.people.from.the..neighbourhood.rush.on.it.during.summertime.

Le Millénaire in Aubervilliers in France offers a very nice

location for restaurants along the Canal St Denis.

Whereas just a few years ago, foodservice often made up less than five percent of the tenant mix in a center, experts now advise a level of 15% or more on new developments.

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COVER STORY

Sophie KarmaSinKarmasin.motivforschung

ChriStoph m. aChammeratp architects and engineers

martin SabelKoCbre Global investors

thomaS binderSonae Sierra

marCuS wildSeS

Stephan JunGSavills

burKhard hoffmanneCe

SubScribe to the number one magazine for the Shopping center induStry in europe.

think acroSS.

"aCroSS – europe's Shopping Centers", is the only international and independent medium for the shopping center industry in europe. the magazine is published six times a year entirely in english, and is distributed in 40 european countries directly to the decision makers of the retail real estate sector.

the Shopping center pro'S are reading€ 119 for 6 issues Subscribe online at: www.across-magazine.com

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

Christmasworld – the World of seasonal decoration – is the leading inter national 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 24 to 28 January 2014.

CA IMMOBILIEN ANLAGEN AGMechelgasse 1, a-1030 vienna, austria Phone: +43 1 532 59 07 - 0 Fax: +43 1 532 59 07 - 510 email: office@caimmo.com www.caimmo.com

Ca immo was founded in 1987. the company develops and invests in com mercial real estate (and in particular offices) in austria, Germany and eastern europe. as of 30 september 2011, the company’s total property assets amounted to some €5.2 bn. Ca immo is listed on the vienna stock exchange, with free float of around 83 % at the present time.

CBRE GLOBAL INVESTORSschiphol Boulevard 281, G-tower, 8th floor 1118 Bh schiphol, 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

BARTHELMESS GROUPschwabacher str. 510 d-90763 Fürth, Germany Phone: +49 911 9713 - 245 Fax: +49 911 9713 - 328 email: center@barthelmess.com www.barthelmess.com

the Barthelmess Group is a leading company in europe for all-inclusive services in the area of seasonal decorations, theme parks and visual merchandising. the customer base includes european retail brands, shopping centers, railway stations, airports and department stores. With in-house designers, comprehensive expert assembly on location and a worldwide supply network, Barthelmess focuses on individual and tailor-made one-stop solutions.

ATP ARCHITECTS AND 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 and 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 innovative 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 take responsibility for 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 efficiencies and places the highest importance on research and development. With forty years’ experience on light-ing markets, we have worked in the widest possible range of environments, for both ur-ban space and private setting.

ATALIAN GLOBAL SERVICESFrance, Belgium, luxemburg, Poland, Czech Republic, slovakia, hungary, Croatia, Romania, turkey, Morocco & lebanon.111-113 Quai Jules Guesdes94 400 vitry-sur-seine, Francet. +33 1 55 53 05 07F. +33 1 55 53 04 02www.atalian.com/envincent.vallois@atalian.com

atalian is a global facility services provider, focusing on providing 85% of services with its own resources. in the last 20 years, atalian acquired more than 200 companies mainly in the fields of Maintenance, Cleaning, security and landscaping in 10 countries. Currently present in France, Belgium, luxemburg, Poland, Czech Republic, slovakia, hungary, Croatia, Romania, Morocco, lebanon & turkey. With a portfolio of more than 80 shopping centers and over 50 office buildings, atalian is considered as the strongest service provider for Cee real estate owners. atalian currently employes over 55,000 people.

20 ACROSS 5| 2013

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 develops, plans, builds, leases out, and manages large commercial real estate since 1965 and is active in 16 european countries. the company is european market leader with 183 managed shopping centers. on an overall sales area of 6 million m2, about 17,500 retail businesses generate 19 billion euros in annual sales. another 14 shopping centers are currently under construction or planned throughout europe.

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 inter-national business activities under Cineplexx international ltd. in total it runs 35 cinemas with 235 screens across austria, Croatia, serbia, Montenegro and northern italy. total sales reached 120 Mio. euro in 2011 with about 1.100 employees.

CUSHMAN & WAKEFIELDBratislava • Bucharest • Budapest • Moscow • Prague • Warsawna Príkope 1, 110 00 Praha 1, Czech RepublicPhone: +420 234 603 603email: jonathan.hallett@eur.cushwake.comwww.cushmanwakefield.com

Cushman & Wakefield is the world’s largest privately-held commercial real estate services firm. the company advises and represents clients on all aspects of pro perty occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and more than 14,000 employees. it offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. the firm has more than $4 billion in assets under management globally. a recognized leader in local and global real estate research, the firm publishes its market information and studies at www.cushmanwakefield.com/knowledge.

CORPUS SIREO HOLDING GMBH & CO. KGaachener straße 186 d-50931 Cologne, GermanyPhone +49 221 39900-0 Fax +49 221 39900-109 e-mail: kontakt@corpussireo.com www.corpussireo.com

With a total of 15.4 million square metres of commercial and residential property space worth 16.2 billion euros in assets under management including 1.8 billion euros of institutional assets, the Cologne-based CoRPus siReo employs a staff of around 560 professionals at 11 locations in Germany and luxembourg. this makes the company Germany’s largest real estate asset manager. as a result, even rival companies rate CoRPus siReo as the chief competitor on the market. (these are the findings of the “Real estate asset Management Report 2013" compiled by Bell Management Consultants.) in addition, CoRPus siReo received the immobilienmanager Magazine award 2012 as Germany’s leading real estate asset manager and counts among the industry’s top employers according to “immobilien Zeitung”. to national and inter-national investors, institutional investors, banks, and companies with proprietary real estate portfolios, CoRPus siReo offers investment management and asset manage-ment services along the entire real estate supply chain. Moreover, the company acts as broker and project developer for owner-occupiers and investors.

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: commitment@coverpoint.co.ukwww.coverpoint.co.uk

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 Food Courts 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.

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.

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EKAzENT IMMOBILIEN MANAGEMENT GMBHleopold Moses Gasse 4, a-1020 vienna, austria Phone: +43 1 201 22 - 0 email: office@ekazent.at www.ekazent.at

ekazent’s core competencies include center management, leasing management and refurbishment. active development, ongoing improvements – adapting to changing market conditions establishes a functional interface between investors, tenants and consumers. increase both customer satisfaction and earnings with a professional universal scheme. Capitalize your commercial real estate. With our help.

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@rosenau.com www.rosenau.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.

EHL ASSET MANAGEMENT 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.

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 090e-Mail: 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 manage-ment 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

GROOTERHORST & PARTNER Königsallee 53-55, d-40212 dusseldorf, Germany Phone: + 49 211 8 64 67 - 0Fax: + 49 211 13 13 42email: info@grooterhorst.dewww.grooterhorst.de

Grooterhorst is a German-wide practicing law firm focussing on property law. it is highly specialized in planning law for shopping center and other large retail schemes and the firm is nationwide knownfor this competence. the firm’s services also en-compass real estate transactions, commercial lease law, construction law and bank-ing law. it acts for German and international investors, developers, fundsand asset managers.

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”.

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 700 member companies in the shopping center and commercial real estate industry, including operators and developers, trade representatives, service providers, consul-tants, investors, and other companies.

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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.

MEC METRO-ECECENTERMANAGEMENT GMBH & CO KGam albertussee 1, d-40549 düsseldorf, Germany Phone: +49 211 30153 - 101 Fax: +49 211 6886 4973 - 101 email: info@mec-cm.com www.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, leasing, developing and marketing of currently 38 shopping centres in Germany in which more than 1.300 tenants achieve an annual turnover of €2.7 billion on a sales area of 900.000 m2.

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 Germany’s leading trade-fair organiser. 578,000 square metres of exhibition ground are currently home to ten exhibition halls and an adjacent Congress Centre. events “made by Messe Frankfurt” take place at more than 30 locations around the globe and cover the fields of consumer goods, textiles, architecture, technology & design and automotive technology.

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

MK illumination designs, manufactures and markets festive and decorative led lighting concepts for shopping centres. We offer full service from con ception, production, installation, servicing and financing. MK is a local company on a global scale operating from 21 national markets worldwide.

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 19th edition will take place at the Palais des Festival of Cannes, France, from 13-15 november 2013.

KRAMMER & WAGNER PROJEKT ENTWICKLUNGUND IMMOBILIEN GMBHGoldschmiedgasse 2/5/4, a-1010 vienna, austria Phone: +43 1 532 25 55 Fax: +43 1 532 25 55 - 55 email: office@krammer-wagner.at www.krammer-wagner.at

Krammer & Wagner has been successful in the field of development, consulting and marketing of real estate for more than 20 years. as a market leader in austria, Bosnia herzegovina, Croatia, slovakia, serbia and Romania for classical shopping and power centers, we offer com pre hensive, innovative solutions based on knowledge and experience.

KLEPIEERE21 avenue Kléber, F-75116 Paris, FrancePhone: + 33 1 40 67 57 40Fax: + 33 1 40 67 55 62wwww.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.

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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.

RAIFFEISEN EVOLUTION PROJECT DEVELOPMENT GMBH ernst-Melchior-Gasse 22, a-1020 Wien, austriaPhone: +43 1 717 06 - 624Fax: +43 1 717 06 - 410www.raiffeisenevolution.com

Raiffeisen evolution project development Gmbh is a real estate company operating in austria, Central and eastern europe with its headquarters in vienna. our portfolio includes primarily residential and office buildings, as well as hotels, shopping and retail centres as well as mixed-use objects. We implement projects with high sus-tainability suitable for investors.

R.E.D. REAL ESTATE DATABANK 145-157 st John street, eC1v 4PW, london, uK Phone: +385 91 280 1010email: renato@redstar.eu.com www.redstar.eu.com

R.e.d. star is a reliable and independent guide for commercial real estate executives in Cee. We deliver impartial and timely research data on commercial property to the real estate industry in form of trans parent market reports at regional, country and city level. R.e.d. star Retail Matchmaking event is central eastern europe’s deal-making happening of the year connecting the dots between leasing profes sionals and global retail brands ready to expand throughout the region via pre-arranged meetings in one place on one day. For more information visit www.redstar.eu.com

REAL4YOU IMMOBILIEN GMBHhaiderstraße 23, a-4052 ansfelden, austria Phone: +43 7229 8808 0 email: office@real4you.at www.real4you.at

the austrian Real 4 You Group is one of the leading retail real estate developers in eastern europe. developing FamilyCenter-Retail Parks and mega.mall-shopping Centers is currently one of the company’s core business. More than 150 projects has been realized in the last 15 years.

OASIS SHOPPING CENTER SERVICES tipografilor street 11-15 s-Park, Building B 3, 2nd floor 013714 Bucharest, district 1, RomaniaPhone: + 40 269 2067 14e-mail: brigitte.schmitt@oasisconsult.comwww.oasis-sCs.com

oasis shopping Center services is a value oriented shopping centre management company that has been founded to offer centre management for malls and retail parks in Romania. We have more than 20 years experience in the shopping centre industry - one of our partners has been with the european market leader for more than a decade. With our proactive approach we ensure the long term, sustainable and yield oriented success of the shopping centers we manage. the various tasks include: assessment of the sites, Commercial Building Management, Refurbishment, Marketing, technical and infrastruc-tural Management. Centre management plays a central and extremely significant role in the holistic management and support process of a shopping centre thus we work in inter-disciplinary teams. as forward-looking and target–oriented we look for value gaps and possible refurbishments in order to secure the long term success of the shopping center.

REINHARD WINIWARTER WINERYobere hauptstraße 19, a-3552 stratzing/KremsBusiness adress: Rotenturmstraße 17, a-1010 viennaPhone: +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 the portfolio.

S IMMO AGFriedrichstrasse 10, a-1010 vienna, austria Phone: +43 5 0100 - 27521 Fax: +43 5 0100 9 - 27521 email: office@simmoag.atwww.simmoag.at

s iMMo aG is austria’s first real estate investment company and has been listed on the vienna stock exchange since 1987. the company invests in high-quality real estate in austria, Germany and six countries in Central and southeastern europe. its broadly diversified portfolio is focused on sustainability and consists of residential, office and commercial properties as well as hotels.

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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 centre 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 centres.

SMA STANDORT MARKETING AGENTUR GMBHRotenturmstraße 17, a-1010 Wien, 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 spectrum includes 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.

triGranit Management Corporation is a customer focused real estate services consul tancy. By creating and managing spaces in a safe, clean, reliable and sus tainable environment tGM strives to provide its clients with value, trans parency, understanding and efficiency for tenants; sustainability, reliability and responsi-bility for landlords and owners of commercial, office, cultural or re creational facilities through its high-quality services. tGM is currently active in hungary, Poland, slovakia, Croatia, slovenia, Romania, Russia, Bulgaria, Macedonia and Belarus. the blend of a portfolio which includes commercial, office, cultural, educational and recreational facilities, within which we welcome approximately 60 million visitors every year, supporting the success of more than 1,500 tenants.

TOOLBOx MARKETINGCambridge, stockholm, Warsaw, sofia, Budapest, helsinkivine Farm, up street, Bardwell suffolk, iP31 1aa, uKPhone: +44 1359 250208Fax: +44 1359 250228Michelle.buxton@toolboxmarketing.comwww.toolboxmarketing.com

specialists in creating value and Roi, toolbox Marketing employ passion, experience, innovation and creativity to drive retail destination marketing throughout europe. active in 16 countries with creative hubs in sweden, Poland, Bulgaria, hungary, Finland and uK, the toolbox Marketing specialist teams create, direct, implement and evaluate all aspects of the marketing mix in both B2B and B2C sectors.twelve years in the business and an un shakable thirst for innovation enable us to maximise brand development and customer experience using an array of multi-media and multi-channel marketing techniques.

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.

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 pro-vides complete service from development to center management in Central, south-ern and eastern europe. shopping malls managed by ses are among the very best the industry has to offer.

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ChRistoPh M. aChaMMeRatP architects and engineers

MaRtin saBelKoCBRe Global investors

thoMas BindeRsonae sierra

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