TIME TO CONSIDER THE ITALIAN MARKET?

The upcoming fourth edition of MAPIC Italy will take place at the MiCo Milano Congressi across the 8-9 May and will again bring delegates together to discuss the Italian market and the wealth of opportunities this up-and-coming market represents. Ahead of the event, RLI takes a look at what’s on the agenda and highlights some of the important projects in this exciting market.

Over two days, retailers, shopping centre developers & owners and brokers connect to expand and develop their business in Italy. This is the unmissable rendez-vous for property players and in vogue retailers looking to build the perfect retail mix and to create complete lifestyle destinations in Italy. Organised by Reed MIDEM, the third edition of MAPIC Italy gathered together more than 2,000 participants from 50 countries and close to 500 retailers. The 2019 edition is set to top this and attendees to the event will be able to discover the best property projects in Italy and network with leading industry leaders. From shopping mall & high street locations to factory outlets or transit hubs, discover the properties available in prime or secondary locations throughout Italy. Top level players in the industry that are set to attend include Altarea Cogedim, CBRE, Cushman & Wakefield, ECE, Klepierre, Majid Al Futtaim, Savills and Sonae Sierra among others. Key global retailers who will also be on site include IKEA, KIKO MILANO, Levi’s and Nike.

A world-class programme of conferences that will explore the Italian retail real estate industry will be hosted by key experts. These will be backed up with a host of industry speakers, including the likes of Gian Gherardo Aprile, Group CEO at Wearena Entertainment, Edoardo Favro, CEO at Ceetrus, Roberto Limetti, Managing Director at Pradera, Simone Maggi, CEO at Lanieri and Pierre Marin, CEO Italy at JLL among many others. A complementary event to the annual MAPIC conference in Cannes, MAPIC Italy is fast establishing itself as an event not to be missed.

PROJECT OVERVIEW

Forum Real Estate Management and Ares 2002 have developed in the eastern outskirts of the city a shopping centre of 32,300sq m which houses 98 units of major international brands such as ZARA, H&M, MediaWorld (MediaMarkt), Cisalfa (Intersport), Maison du Monde, Pull&Bear, Bershka, Stradivarius, Flying Tiger, Calzedonia, Sephora and numerous famous national and local names such as Tezenis, Zuiki and Kasanova. Gran Roma is situated on the east side of the internal ring road of Rome (Via Prenestina), adjacent to the Bricoman store inaugurated in 2016. The shopping centre consists of two retail levels and has a strong and clear shopping circuit, including a grand atrium and large foodcourt with various types of food offering and a large exterior terrace. Gran Roma was opened back in March.

Arcus Real Estate has extended its portfolio of premium outlet developments to include Roma Outlet Village, providing visitors to this world capital with an extraordinary and unforgettable shopping experience. The first phase of the project will officially open to the public in October. The new reference point for “premium shopping” in the whole Lazio region will have 90 stores holding national and international high end brands, from Armani to Gucci through Calvin Klein, Dolce & Gabbana, Hogan, Trussardi, Prada, Versace and more. At the beginning of 2020 this number will be increased with 50 when the second phase is completed for this mega project located in the surroundings of the Rome Province. Phase one will be around 21,000sq m, with an additional 11,000sq m being added in phase two.

Finally, at the end of 2018, the building of the mega park Maximall Pompeii started in Via Plinio, Torre Annunziata. The project, designed by the multi-award winning Design International, has head turning figures: 150 millions euros investment, 200,000sq m development and 48,000sq m GLA, 200 international and national brands presence, a 4-star hotel with 120 beds, 4,000 parking units and a 3,000 sqm multiplex cinema with 8 screens and 24 restaurants distributed in 4,000sq m in the Piazza food, designed in the same style as the near Piazza del Plebiscito. The multifunctional centre is located a few steps from Maximall Oplonti and neighbouring the Pompei excavations and is projected to be one of the referral points in the Italian sector after its opening in 2019.

Emilia District is a sustainable, LEED Gold certified two- level shopping and entertainment centre with an extremely high level of style, design and innovation developed by Sonae Sierra and Impresa Pizzarotti and with an investment of over 200 million euros. This new shopping district is located in a regenerated brownfield area north-west of Parma, along the A1 Milano-Bologna highway, will be opening in November 2019. The architectural project will occupy a total area of 300,000sqm with a 74,000sq m shopping centre that will be anchored by a 4,500sq m GLA hypermarket and accommodate some 170 exclusive shops. Also included will be entertainment areas with a Starplex cinema with 6-screens and a food area next to it that is a triumph of flavours and quality. Palazzo del Lavoro is a medium-sized retail project in a highly prestigious architectural setting. The initiative involves refurbishing the complex designed by Pier Luigi Nervi for the 1961 Universal Exposition and creating a completely new look for this area of Turin. Two plazas will also be constructed to create places to meet and both the public lighting system and the street furniture will be renewed.

Developed by Falcon Malls/Bizzi & Partners and expected to be finished in 2020, the project of two-level shopping arcade will have 28,000sqm GLA, including a fashion range with both premium and unconventional brands, a wide variety of restaurants, new generation children’s play area, museum complex and 1,550 parking units. Due to open in the first half of the year by developer Falcon Malls, Milanosesto is the largest development project in Europe. This community includes over one million square meters of new and renovated spaces, and 7,500,000 square feet of green space. Just 5 miles from Milan’s city centre, Milanosesto is one of Europe’s most dynamic new communities. It will also be home to a multifunctional shopping centre and over 1,000,000 square feet of retail, hospitality, and industrial spaces. The community will include schools and a new hospital and medical research center. Milanosesto will also be home to a world-class sports stadium, to be used recreationally by members of the community and for professional sporting events.

Another project by Falcon Malls due to open in HI 2021, Cascina Merlata is a large-sized retail real estate which will be built next to the Expo Milan 2015 site. With 192 shops, a GLA of approximately 65,000sq m and more than 10 million expected yearly visits; the Falcon Malls shopping centre is part of a wider urban redevelopment plan of 900,000sq m in the Cascina Merlata district, to the North-West of Milan. The Cascina Merlata commercial hub will split into two connected structures. The west wing and the Promenade will house the main retail and food offer, while the east wing will be mostly focusing on leisure and entertainment activities including the cinema, the food court and a supermarket. The entire WaltherPark project comprises on the one hand an inner-city department store, a hotel with 100 beds, and 150 residential apartments, and, on the other, also office premises and events space as well as a new shopping centre which will open in Bolzano. The strong catchment area of 895,000 inhabitants will be augmented by the many tourists coming from north and south who will also be drawn by the benefits of a modern shopping centre in the city. The project, which is expected to complete in 2021 by developer SIGNA, will incorporate a major enhancement of the district surrounding Bolzano’s railway station. It encompasses infrastructure components and urban-planning solutions for an inner-city, 35,000sq m shopping centre with 120 stores, an upscale hotel, apartments and office spaces.

Strategically positioned in Segrate, just 10 minutes from Linate airport, and 25 minutes from the city centre, Westfield Milano will feature the best Italian and international retailers across its 300 stores and luxury village. It will introduce new retailers to Italy such as French luxury department store Galeries Lafayette which will open its first store in Italy inside Westfield Milano. The project will be home to the best in dining, leisure, entertainment and events including over 50 restaurants and Italy’s number one cinema group, UCI Cinemas, which will open a 16-screen cinema with an ‘in-cinema’ luxury dining service. Westfield Milano will also feature the latest in digital technology, signature shopping and tourism services. Westfield Milano is a joint venture between Unibail-Rodamco-Westfield, one of the world’s leading global shopping centre groups which owns 75 per cent of the development, along with Stilo Immobiliare Finanziaria (operating through Arcus Real Estate branch).

The Milanord2 shopping and entertainment centre at Cinisello Balsamo in Milan has been unveiled. The innovative design was presented to the public by Birger Strom, President of LSGI, and Davide Zanchi, Managing Director of SCC Italia. LSGI/SCCI is developing the project alongside Ceetrus. Milanord2 will be a dynamic and strategically well-located retail and leisure destination which will house 98,500sq m of retail stores and 10,000sq m of restaurants, cafés and bars. The 41,000sq m Sky Plaza will host free, open-air games and sports activities along with many cultural events; it includes a Trampoline Park, Surf Wave Pool, Skate Park and Ice Rink. Milanord2 is very well connected – it houses a metro station for the Red and Lilac M1 subway lines beneath the centre and is also served by several bus routes, ample car parking, bicycle stations and cycle paths. Work on Milanord2 has now commenced, with construction expected to complete in 2022.