Mayland Real Estate is Poland’s leading retail estate developer with 12 years experience and the largest pipeline of dominant shopping centres in Poland. Yann Guen, Vice-President Development, and Maciej Kielbicki, Vice-President Operations, speak to RLI about the company.
Mayland Real Estate is now the leading developer in the Polish retail market with one million sqm GBA of retail space developed during 15 years of activity in Poland. Established in 2006, Mayland Real Estate acts as a developer, designer, builder, leaser and manager of its shopping centres.
Speaking about the company’s performance and development of Mayland’s portfolio, Yann Guen, Vice-President of Mayland Real Estate, said: “At the beginning of 2011 Mayland concluded the sale for Jantar Shopping Centre together with the financing of the extension and development at Slupsk. This summer Mayland finalised the financing for the biggest real estate extension in Poland – Wzgorze, in the Gdansk region.
Maciej Kielbicki, Vice-President Operations, adds: “For a long time we have been able to observe the necessity of refurbishment or redevelopment as a solution for improving the market position and increasing the sphere of influence for some existing retail formats.”
The five new projects in the pipeline are located in different cites of Poland: Serenada in Cracow, Idylla in Wroclaw, Bella Dolina in Rzeszow, Aleja Slonca in Szczecin and Nimfea in Pila. The total portfolio of Mayland represents more than 330,000 sqm GLA.
In 2008 Mayland completed three projects: Karolinka in Opole, Pogoria in Dabrowa Gornicza and Jantar in Slupsk, successfully selling them in 2009/2010.
In the Gdansk region, Mayland Real Estate is extending the Wzgorze Shopping Centre to create the largest retail destination in the tri-city area, totaling 68,000 sqm GLA - three times larger than the existing shopping centre.
In Cracow, Mayland is developing the Serenada Shopping Centre located next to the existing Krokus Shopping Centre. The new shopping centre will include 42,000 sqm GLA of fashion and leisure and, together with the existing retail schemes, will become a retail destination of 100,000 sqm GLA.
In the fast developing residential district of Szczecin, the seventh largest city in Poland, Mayland is opening Aleja Slonca close to the existing Ster Shopping Centre. Aleja Slonca, with 38,000 sqm GLA, will be the future dominant retail and leisure destination in Western Szczecin.
Bella Dolina in Rzeszow will offer the largest regional mall with up to 55,000 sqm GLA and 35,000 sqm GLA retail park. In Slupsk, following successful completion and sale of Jantar Shopping Centre, Mayland is currently developing an extension of the existing shopping centre, offering a total of 46,000 sqm GLA. This will provide a multiplex cinema, high-profile fashion brands, specialty stores and a large food court. It will become the first dominant retail destination in the region with 40 per cent market share when the extension opens in November 2011.
Idylla, Mayland’s new lifestyle multi-functional destination in the future business district of the city of Wroclaw, will comprise of 54,500 sqm of retail, and together with a 4* hotel, and an array of business and leisure facilities will offer a total capacity of 120,000 sqm when it is completed in 2014.
Mayland will also develop the 22,000 sqm GLA Nimfea Shopping Centre in Pila, a waterfront mall linking the central urbanised area of the city and green bank of the Gwda river. The project will be the first third generation shopping centre in the city and will include two shopping and service levels and underground parking.
To aid the redevelopment of existing shopping centres and extensions, Mayland Real Estate has developed a turn-key program called ‘Booster’.
Yann Guen, Vice-President of Development, said: “When planning the redevelopment of an existing shopping centre, a wide variety of issues should be carefully considered.
“On the basis of our experience we created the Booster program, which allows us to increase the value of retail space in existing shopping centres, improve the functionality of the facility and to provide safe, high-quality spaces, and reposition the shopping centre on the market through the change of tenant-mix and its expansion.” Guen added: “Mayland realised that more than 50 per cent of the retail stock is more than 10 years old and that 40 per cent in Poland is still made by the top 12 big box retailers. We launched a market study on 370 shopping centres in Poland and the results were showing that plenty of existing shopping centres have a big untapped potential.
“Booster realises the commercial audit of the centre’s current position today and the real potential that it can have tomorrow. If the owner agrees to convert this potential into reality, we carry out everything from concept to completion.”
Kielbicki and Guen believe that the company’s Mayland Market Intelligence (MMI) - a 15 year old constant survey on retail and retail real estate development in Poland – has set the company apart from the competition.
Kielbicki said: “Knowing the end consumer is the key to finding the right location, the right tenant mix, and the right positioning. Because we were also retailer before, we know that the market intelligence is the base of everything.”
Guen adds: “Every decision of shopping centre development involves analysis and anticipation of consumer market, retailers’ needs and strategies, requirements of investors, expertise built on knowledge of local consumer markets and behaviours.
www.mayland.pl
For the full article, please see the November 2011 issue.
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