Next Generation Destinations
Launched in 1995, MAPIC is the international retail real estate event designed to help attendees build the ultimate lifestyle and shopping destinations. Taking place over the 26-28 November at its traditional home of the Palais des Festivals in Cannes, the event will bring together retail, property, food and leisure leaders for three of intense discussion and debate about the state of the retail real estate sector.
Featuring 5,000 attendees from over 75 countries, MAPIC will be highlighting the best extension and mixed-use projects and is taking the pulse of retail cross-border development. The event will offer a major opportunity for visitors to learn about the changing face of retail and meet the players at the forefront of the retail property’s transformation.
Throughout its three-day event, MAPIC will be showcasing the widest and most comprehensive offer of retail and lifestyle locations worldwide for retailers, leisure and restaurant operators, with 250 speakers confirmed and more than 50 conference sessions on offer, it is the place to be for retail real estate. The numerous tailored networking and matchmaking events will allow each guest the chance to build their relevant network.
The exhibition floor of 12,000sq m is the place to connect with all types of retail property players (cities, shopping centres, travel retail zones…). MAPIC is the showcase for the best international extension and mixed-use projects.
2024 Key Topic
Retail, real estate, leisure and hospitality are at a crossroads, with the need for constant evolution in a rapidly changing world, learning how to fast-track adaptation and agility as the industry’s players work out ‘The New Retail Equation’.
At the centre of this are customer expectations, a key element of the equation. People need a sense of place, social interaction and experience. As a result, not only are new projects by necessity mixed and blended, so too are the store themselves, which have become multi-purpose and versatile (test, sale, repair, second hand, immersive), building loyalty in new ways.
Retail, real estate, leisure and hospitality are at a crossroads, with the need for constant evolution in a rapidly changing world, learning how to fast-track adaptation and agility as the industry’s players work out ‘The New Retail Equation’
This new mixed-use will also support the growth and regeneration of towns and cities and meet the needs of communities, contributing to the local economy, while leisure is another crucial part of the equation, adding to a blend that must become more than the sum of its parts. Through these next generation schemes, retail is building new links between customers and citizens, strengthening bonds and creating deeper connections for destinations and brands.
Technology now plays a crucial role in the equation. There is absolutely no doubt that a profound and far-reaching revolution has already begun with the breakthrough in artificial intelligence (AI) advances and the race to rapidly adopt this game-changing technology.
Finally, sustainability is no longer an option. Companies are facing both tough new legislation and expectant customers, while also looking at how they can embrace the opportunities to attract future-proofed capital investment. The objectives and timeframe are clear and many companies have pledged to measurable ESG targets.
MAPIC 2024 will embrace these important topics to support all the market players in finding the right equation to grow.
Ahead of the upcoming event, over the coming pages RLI will take this opportunity to highlight a selection of under construction and recently completed projects from around the globe. These schemes will highlight how next generation destinations are coming to the fore and how these projects are more important than ever for customer retention, increasing dwell times and enticing customers back time and again.
Americas
Enhancing Montreal’s iconic and ever-evolving composition with a ground-breaking approach to how people work, learn, play and live. The largest private development in Quebec, Royalmount is a densified, mixed-use project, with massive greening, public transit access and a focus on active mobility. It is a neighbourhood reimagined and a world-class midtown in the heart of Montreal. With design work by Benoy and construction completed and the scheme opened by developers Carbonleo on 15 August, Royalmount is one of the only 100 per cent carbon-neutral mixed-use developments in Canada and is a never-before-seen living environment where connectivity, creativity, sustainability and technology thrive. Royalmount has brought the best brands, experiences and offerings to Quebec.
The first phase consists of an 824,000sq ft indoor and outdoor, two-level retail and lifestyle complex. It features retailers, restaurants, experiential attractions, an elevated linear park as well as a 1.8ha urban park. Just before launch, a dozen new retailers were announced at the scheme and these were Zara, Nike, Moncler, Longchamp, Anine Bing, Mango, H&M, Alo Yoga, Veronica Beard, Canada Goose, Sephora and Roche Bobois.
Serving as a bespoke and captivating cultural destination for Vancouver, Oakridge Park is designed to seamlessly encompass every aspect of people’s lives – where living, working and playing converge harmoniously, offering a space for inspiration, personal growth and relaxation.
Spanning over five million square feet and strategically designed around a sprawling nine-acre park, Oakridge Park creates a distinctive enclave within the expansive 28-acre footprint. Comprising residential, retail, office, public realm, civic and cultural components, Oakridge Park, a joint venture by developers Westbank and Quadreal Property Group, with design and masterplanning work by Henriques Partners Architects, is a world-class, masterplanned community. Once fully completed in 2025, it will offer a top-tier retail experience totalling 850,000sq ft with over 140 leading global brands, including flagship and boutiques stores, accommodations for over 6,000 residents through more than 3,000 residences, 700,000sq ft of meticulously designed office space for over 3,000 creative economy professionals, one of Vancouver’s largest community centres and busiest libraries, six dynamic indoor and outdoor live-music venues, the renowned Goh Ballet and it will be home to the second Time Out Market in Canada.
After two years of construction and an investment of more than 634 billion Colombian pesos (about 180 million dollars), Mallplaza officially opened its doors in the city of Cali in March, launching its first shopping complex in southern Colombia. Mallplaza Cali, with a gross leasable area (GLA) of 67,500sq m, generated more than 1,400 jobs during the construction phase and will operate with nearly 1,600 formal employees, both direct and indirect. With the new opening of the mall, which took place on March 21, the doors of the first Ikea store in Cali, the second in Colombia, as well as a large-format Zara store, the second H&M store in Cali and other commercial novelties were also opened. In addition to its unparalleled commercial offer, the shopping centre has 13,000sq m of public space for people to socialise and enjoy.
A project opened last year by Thor Urbana is The Landmark Tijuana, which is a scheme that is located in the Golden Zone, the area with the highest real estate growth in the city of Tijuana in Mexico. The scheme brings together the best shopping, dining and entertainment offerings unlike anywhere else in the area. It is complemented by an exclusive residential tower, luxury hotel and class A+ office spaces to become the new place to live, work and play. The lifestyle centre will feature 308,000sq ft of leasable area, whilst the surrounding facilities within the scheme will include 154,000sq ft of A+ office space, 190 residences, a brand new hotel with over 200 rooms and more than 2,000 car parking spaces. The project offers a unique mixture of cultural diversity from the region, integrating itself into an existing, bicultural, vibrant community in search of exceptional experiences.
Discover Omaha’s grandest new community, Avenue One, which will bring an unparalleled level of urban living to West Omaha. Live, work, stay and play within 200 acres centred on a modern adaptation of a traditional main street. Walkable and wellness-centric, Avenue One unites all facets of life with ease, convenience and vibrancy. Avenue One is Life Connected. A live, work and play community, it will bring a new level of urban-style living to West Omaha. The economic impact of this new development is projected to be a billion dollars while the experience for residents, visitors and businesses will be priceless. Avenue One is more than 15 years in the making and is the vision of Jasper Stone Partners. Jasper Stone Partners, a boutique private real estate investment firm, envisions Avenue One to be a special place to draw people from all over Omaha to 192nd Street and West Dodge Road and serve as Omaha’s “Western Gateway.” The development will feature a business park, shops, restaurants, hotels, apartments and six miles of walking trails. JLL and Poag’s strategic partnership will bring the vision of this mixed-use property to life.
Two years after purchasing Ridge Hill, developers North American Properties (NAP) and Nuveen Real Estate have unleashed the construction crews that will begin remaking the 74-acre lifestyle centre in Yonkers, New York into a more “human-centric” destination. NAP will demolish part of what was a Lord & Taylor store in its urbanistic downtown, reconfiguring it at ground level to make it part of the central greenspace that currently exists next to a Cheesecake Factory across the street. An open-air paseo is planned for the first floor of the building that will be filled with retail, dining and entertainment tenants. A fountain at the end of the block will be removed and substituted with a gathering space for visitors. Also in the plans for the central greenspace are a covered performance stage and an 18’ x 11’ LED screen. The entire Phase 1 renovation will include a reimagining of the streetscape, a modernization of the merchandising mix and the elevation of the guest experience with resort-inspired services and community-driven programming. Key tenants at Ridge Hill – which is located between the New York Thruway and the Sprain Brook Parkway, include Apple, Whole Foods, Dick’s Sporting Goods, Lowe’s, LA Fitness, Legoland, Sky Zone and a host of food and beverage brands.
New Rochelle in New York State has unveiled its strategy to transform its downtown retail. The plan, which has already been approved by the City Council, marks a significant milestone in the city’s evolution as a dynamic urban destination for locals, new residents and visitors. The plan is part of the wider design concept and robust vision for a reimagined New Rochelle Transit Center. Led by FXCollaborative, a leading NYC architecture firm committed to building a better world through equitable and sustainable design, the newly unveiled design concept repositions the historic centre into a modern, pedestrian-oriented and well-connected facility, to serve as a bustling hub for daily commuters and visitors alike. The redesign of the New Rochelle Transit Center is a cornerstone of the City’s transformative downtown redevelopment strategy, positioning New Rochelle as a model for equitable and sustainable urban growth. The City’s groundbreaking zoning initiative has paved the way for up to 12 million square feet of new development, including 6,370 housing units, one million square feet of retail, 2.4 million square feet of office space and 1,200 hotel rooms. At the heart of this growth is the creation of a vibrant, mixed-use district anchored by the Transit Center.
Jackrabbit Crossing is a 196-acre Rosauers Grocery Store anchored mixed-use project located in the City of Belgrade in the Gallatin Valley, Montana. Rosauers is one of the Northwest’s premier quality service grocers with full-service deli and large organic market. Jackrabbit Crossing is a master-planned, mixed-use development that is a true live, work, shop community. The population of the Gallatin Valley is 127,880 with over a 2.5 per cent annual growth rate and a 40 per cent increase since 2010. Jackrabbit Crossing offers a regional draw with easy access right in the crosshairs of the Valley’s growth. Jackrabbit Lane is one of the busiest roads in the State of Montana. The project will deliver a much-needed Rosauers Grocery Store along with other amenities including restaurants, convenience stores, shopping and a hotel. Under development by Venture West Development, the project is due for completion in the fall of 2026.
Belle Oaks Marketplace is a $285M mixed-use retail and multifamily redevelopment of the former Richmond Town Square Regional Mall into a 1.7 million square foot “live-work-play”, 798 multi-family luxury residential community located on approximately 70-acre campus in the greater Cleveland MSA. Thoughtfully designed and set to complete in 2026 by developer Dealpoint Merrill, Belle Oaks Marketplace provides amenity rich living residential concepts augmented by next generation retail amenities within an urban campus environment. The property is expected to be anchored by a 159,900sq ft Meijer supercenter grocery store (expected to have two million customer visits per year), with 120,725sq ft of retail and restaurants. The property currently has an adjoining 160,000sq ft Class A self-storage facility to service the community and Belle Oaks Marketplace residents. The development also includes an approximate 10-acre nature park, a 12,000sq ft clubhouse with resort style pool, gyms, a campus business centre, 24-hour security and concierge services for residents.
Asia & Australasia
Chapman Taylor’s interior design project for a new five-storey shopping mall in Ürümqi, Northwest China, has now opened. With 45,057sq m of retail and leisure space, Wuyue Plaza is located in the strategically important transportation hub of Shuimogou District and the Hongguangshan Convention and Exhibition centre. The project aims to create a new ecosystem blending leisure, retail and residential elements to create a new cultural and tourist hub in the Shuimogou District transportation hub of Urumqi. Developed by Future Land Development Holdings, the shopping mall component’s unique design reflects the local landscape, mountains, lakes and deserts. This has resulted in stylised light-filled atriums and themed floors, named after concepts such as a floating city, a future garden, ‘air’ island, an interstellar walk and a time tunnel. Construction began in 2021 and was completed and opened to the public in early 2024.
Earlier this year, CR Land and 10 Design, under Egis’ Architecture Line, have recently unveiled a new shopping centre, MixC Changzhou, in southern Jiangsu, China. The avant-garde retail oasis is designed to contribute to the region’s commercial identity and reinforce its flourishing metropolis, combining a strong F&B offering with a wide range of retail tenants. Among the F&B, lifestyle and apparel brands at MixC Changzhou are % Arabica, Hoka, Anta Sneakerverse, Muji, Uniqlo and Urban Revivo, to name a few. Linked seamlessly to the MTR and the upcoming Line 4 in Tianning District, the 232,000sq m premier establishment beckons visitors to explore its seven floors, promising a sensorial journey. MixC Changzhou seamlessly blends modernity and natural landscapes, revitalizing the city’s retail scene and enhancing the lifestyle experiences of residents and visitors alike. Taking inspiration from tea culture of the region, the project features a range of multisensory spaces and experiences to fulfil the evolving needs of the next generation of consumers. Encompassing two large wings with a centrally located lobby, the design features light, bright finishes alongside curved void edges, accented with modern recessed lighting.
Soft opened in September, the M8 revitalisation project in Macau, China by developer China Construction Engineering (Macau) Company Limited aims to make a positive contribution to cultural tourism within the city. The development revolves around creating a harmonised mixed-use urban cultural quarter that will serve as a contemporary lifestyle retail and cultural destination. With the objective of attracting visitors from both regional and international, this new destination will offer diverse opportunities to enhance Macau’s role as a co-creating hub for the promotion of cultural tourism in the neighbourhood. Taking inspiration from the rich heritage and stories of the past, the nine-storey-high retail destination will provide quality-crafted experiences that evoke an authentic sense of place. The spatial layout will take cues from Macau’s local heritage buildings and feature an open-plan hall that encourages interaction among visitors and activities. The central escalator hall will connect each level, facilitating connectivity between shops, events, exhibitions and restaurants. On the rooftop garden, guests will be able to not only enjoy views of Macau’s local streets, but also participate in diverse events promoting cultural exchange and celebration.
Drawing on the origins of IKEA and the core of its foundation, the architectural concept behind Livat Shanghai is guided by the natural formations found in birch wood, first appreciated by IKEA’s manufacturers. The project is shaped by the natural wood grain theme, with natural contours repeated throughout the site. These organic profiles are inspired by the sophisticated and refined techniques of Scandinavian craftsmanship, bringing a new design approach to the city of Shanghai. Designed by Design International and developed by Ingka Centres, Livat Shanghai will be the prototype of the new standard of urban centres by Ingka Centres. This unique ‘mixed-use meeting place’ anchored by Ikea will connect neighbouring plots and metro station to offer a green oasis in this busy mega city. The extensive use of nature smooths the contours of the building, seamlessly sculpting outdoor/indoor experiences to embrace, welcome and celebrate people as they escape the busyness of daily life. Livat Shanghai represents a bold fusion of architecture, culture and community, transforming a central location in Shanghai into a dynamic urban destination. The result is a meticulously crafted 120,000sq m, 300-shop environment that reflects the spirit of Shanghai, blending modernity with cultural heritage that opened its doors back in September.
Back in April, developers DFS Group and Shenya Group held a signing ceremony to mark the official commencement of the DFS Yalong Bay project. The 128,000sq m scheme, which is being hailed as the first world-class, seven-star luxury retail and entertainment destination on the island, is slated for a 2026 opening. According to DFS Group and Shenya Group, the project – to be jointly built and operated by the partners – is expected to reach USD1.38bn in annual sales and attract 16 to 18 million visitors per year by 2030. It will bring fresh energy into the high-quality development of Hainan’s tourism industry, the partners pledged. DFS Yalong Bay is slated to become Sanya’s premier destination for luxury shopping, world-class accommodation, dining and entertainment. It will feature luxury brands including those from LVMH Group to serve domestic and international high-end consumers, with elevated immersive concepts across multiple categories such as fashion, watches & jewellery and beauty.
The Southside is officially open for business. Claiming the title as the largest lifestyle shopping mall located in the Southern District of Hong Kong Island, this exciting new complex by developer MTR Corporation stretches over 510,000sq ft and is home to over 100 retail stores and restaurants, cafes, a movie theatre, a massive supermarket and a whole lot more for visitors to enjoy. Adhering to the concept of “Art in MTR”, The Southside is committed to fostering an artistic community by infusing art elements into the mall while also strengthening its connection with the local community. The mall’s key design takes inspiration from Island South’s nature and coastline; using curves and waves and an elegant beige palette to echo the surrounding environment. The mall’s inaugural phase opened in December 2023, featuring various dining options, including the historic Queen’s Cafe, household supplies, everyday services, and more. The mall is also connected to Exit B of the Wong Chuk Hang MTR station, making it easily accessible for visitors and residents in the neighbourhood.
Snøhetta has unveiled the design for its largest project in Japan to date, a mixed-use development in Tokyo. The 117,000sq m Shibuya Upper West Project by developers Tokyu Group is located in the Shibuya district of Tokyo. Billed as the city’s newest ‘urban retreat’, it is scheduled for completion in 2027. The development will bring together a vibrant combination of high-quality retail, a contemporary luxury hotel, and rental residences as well as art and culture in the Shibuya district for the very first time. The project will be developed in collaboration with the adjacent Bunkamara cultural complex, which promotes art and culture throughout Tokyo. The Shibuya Upper West Project is set to become a new landmark in Tokyo. Horizontally connecting out to the city and the surrounding areas while stretching vertically to the sky, the building is designed as a landform, rising from ground level with its terraced steps, paying tribute to the distant foothills of Mount Fuji.
Sunway Malls, one of Malaysia’s largest mall owner operators, held a ground-breaking ceremony back in August for Sunway Ipoh Mall, which is poised to be Perak’s largest mall upon completion in 2027. With a total development cost of more than RM1bn, the mall in Sunway City Ipoh will span over one million square feet of net lettable area (NLA) across four retail floors and house Perak’s first ice-skating rink, an exhibition centre, a 36-lane bowling centre, a multipurpose sports centre, a gourmet garden and a 10-hall cinema with a seating capacity of approximately 1,500. Sunway Ipoh Mall will also be built to achieve green certification, in line with Sunway’s commitment to ensuring all new buildings and premises from 2025 onwards will be green certified towards achieving the group’s goal of net zero carbon emissions by 2050.
One Bangkok, a landmark project presented by TCC Assets (Thailand) Co, Ltd and Frasers Property Holdings (Thailand), on Rama IV Road in Bangkok opened to the public on 25 October. Situated on approximately 17ha of prime real estate, One Bangkok is one of the largest private sector developments in Thailand, with an investment of US$3.2bn and aims to be “The Heart of Bangkok”. The property features world-class facilities, including office towers, luxury and lifestyle hotels and residences and retail experiences. The development comprises three dynamic retail experiences, five office towers, five luxury and lifestyle hotels, including Bangkok’s first Ritz-Carlton and Andaz. Additionally, it boasts three upscale residential towers and a vibrant arts and culture scene, all set within eight hectares of welcoming, sprawling greenery. One Bangkok also features exclusive retail experiences tailored specifically for the development, including the innovative ‘Made in One Bangkok’ collections and the avant-garde King Power City Boutique, curated by Hayon Studio. Also set to open within the development are Andaz One Bangkok hotel in 2025 and Fraser Suites Bangkok in 2026 to further boost hospitality offerings within the precinct.
Closed for its redevelopment since January last year, Harbourside Shopping Centre is currently undergoing renovation works to make way for a world-class retail, residential, commercial workplace and entertainment precinct. The redevelopment of Harbourside will reimagine the Darling Harbour waterfront for the 21st century, reconnect with the people and places of Pyrmont, and create a network of new public spaces that bring residents, workers, tourists, and locals together in a locally loved mixed-used precinct of the future. Developer Mirvac is seeking partners to be a part of this visionary new chapter by shaping this Harbourside urban retail hub with retail spaces for lease now. Known around the world as the place where Sydney celebrates, this is an opportunity to bring global ideas to the forefront of the city at Tumbalong’s retail precinct. Demolition works have commenced with civil works anticipated to start by by mid-2023. The overall development is expected to be completed in mid-2027, although some areas of ground floor are planned to be open ahead of this, which will be completed in a staged fashion.
Launched this year by developer Auckland Airport, Mānawa Bay Premium Outlets in New Zealand is a fashion-led offering, with space to connect customers to over 100 of the best international and local brands, curating an exciting, rewarding and seamless experience in a unique New Zealand way. Mānawa Bay has been designed to set a new benchmark for outlet shopping in New Zealand. Mānawa Bay is a purpose-built destination focused on delivering a customer-led experience bringing the best fashion, athleisure, lifestyle and homeware brands together under one roof. Nestled on the water’s edge overlooking the mangroves, Mānawa Bay offers great shopping, unique park-like grounds and outdoor spaces within its estuary location. The aim of the project was to create an exciting and rewarding experience that will set the new standard for outlet shopping in New Zealand.
International
SILLPARK, the largest inner-city shopping centre in Innsbruck in terms of area and which attracts over five million visitors a year, is to remain fully operational while it undergoes modernisation by developer of SES Spar European Shopping Centers and is enhanced with a very special innovation: in a first for Austria’s shopping malls, a health park of more than 3,000sq m in area is being built here. The health park forms part of a large-scale modernization of the entire shopping mall. SILLPARK’s owner SES is investing over EUR30M in total in creating a timeless and modern spatial experience throughout the site. With the motto “fresh, young, trendy”, the focus of the modernisation activities is on remodelling the shopping mall, including state-of-the-art technology and opening up the space inside the SILLPARK building.
By 2027 central Paris in France will have a new quarter, with the Gare d’Austerlitz as its beating heart. This new living space, combining low-carbon, biodiversity and soft mobility, is a response to today’s urban issues and a step towards a future that is as responsible as it is sustainable. A new mixed-use district is being developed by Altarea to make living together a reality with an extension of Marie Curie Square, new shops, services and restaurants, leisure and cultural facilities, social and intermediate housing for families and students, head offices, hotels and more.
Opened fully this year following renovation work, Potsdamer Platz in Berlin is a place like no other. It is a unique district, steeped in history, in the heart of one of Europe’s most influential cities. In 2016, Brookfield Properties acquired the prime asset comprising 17 buildings, 10 streets and two squares covering a gross area of more than 2,900,000sq ft within the Potsdamer Platz neighbourhood. The buildings are a mix of office (1,376,000sq ft), retail (493,000sq ft), residential (271,000sq ft), leisure (446,000sq ft) and a hotel (138,000sq ft) and are home to more than 480 national and international companies. Developer Brookfield Properties’ renovations have focused on Potsdamer Platz Arkaden, which has since been rebranded as The Playce, a major shopping and entertainment space in Potsdamer Platz. The centre has approximately 429,000sq ft of retail and gastronomy space split across three floors.
Under development by LAMDA Development, The Ellinikon Mall – the new and upcoming state-of-the-art commercial, leisure and business destination will extend to more than 125,500sq m on Vouliagmenis Avenue. This project will consist of the largest mall in Greece and a next generation retail park with big-box stores. Right next to it, one of the largest coastal parks in Europe, The Ellinikon Park, will be developed. The project is taking full advantage of its adjacency to infrastructure where subways and roads intersect to provide ease of transport to this new urban hub. The vision of the Ellinikon Mall is to create a remarkable centre that transcends the place to shop or place to work.
Winner of the C40 Reinventing Cities tender, the Piazza Loreto project will transform Piazzale Loreto – an historical and central traffic junction – into a welcoming, inclusive, smart and sustainable public place full of services, over 40 retail and F&B concepts and events and temporary exhibits. Designed with an integrated approach involving local communities, the project is a response to the theme of Resilience and climatic adaptation in line with the 2030 UN Agenda goals. Piazza Loreto is the first example of the regeneration of an existing square in the middle of a city, realised by the partnership between Public and Private players. It will be a hub with tall trees and green areas able to mitigate the greenhouse effect and absorb CO2. Designed in BIM, it will be LEED and GBC certificated, developed by Nhood Services Italy and has an opening date of 2026.
Blending heritage and innovation, Entrecampos is undergoing a major transformation to become ‘Lisbon’s new original’ in Portugal. This mixed-use project by developer Fosun Hive Iberia covers public spaces of 17,000sq m, residential (three buildings), offices (seven buildings) and retail (75 stores) over a total GLA of 180,000sq m. Due to open in 2027, it follows a holistic ESG approach designed to exceed high environmental standards like LEED Platinum and WELL, with geothermal and solar energy, energy-saving glazing and efficient chillers among other strategies. Driven by the local community, it is intended as a hub where life, commerce and work converge around an architectural, urban and technological landmark.
Vila do Conde Porto Fashion Outlet, northern Portugal’s only premium fashion outlet, is set for a new expansion project that will add 10,000sq m with 31 new stores and four new dining spaces. Sustainability is a central pillar of this project, which incorporates eco-friendly materials, energy efficiency and the inclusion of green spaces. Waste management projects, renewable energy and initiatives like biodiversity reservation and water savings, including the installation of 962 solar panels, reinforce developer VIA Outlets’ commitment to economic and environmental sustainability. The internationally recognised Vila do Conde Porto Fashion Outlet holds the BREEAM Outstanding level, ranking among the top 10 commercial buildings and the extension is due to open next year.
FASHION HOUSE Outlet Centre Pallady opened the doors to its second phase opened on 25th June and added over 5,700sq m to its existing space. FASHION HOUSE Pallady is situated in the Eastern part of Bucharest in a strategic point connecting traffic from the Southern part of Romania and the A2 highway. With an open-air gallery, the project features a design concept inspired by Bucharest’s Belle Époque architecture, with bohemian streets which create a very attractive destination for visitors. A children’s play area, restaurants and over 300 free car parking spaces for visitors boosts the attractiveness of the outlet. New brands added to the site include adidas, Tommy Hilfiger, Calvin Klein, Under Armour, D’S Damat, Guess and Chic Chic, bringing the total area of the centre to almost 14,000sq m.
NEPI Rockcastle is Europe’s third-largest listed retail real estate company by investment portfolio value and the largest owner, operator and developer of shopping centres in Central and Eastern Europe (CEE). Last year they opened Promenada Craiova in Romania, a greenfield development that offers the most modern shopping centre and comprehensive tenant mix in the region together with a 10,000sq m GLA retail park. Promenada delivered some notable “firsts” when it opened. Global giant Inditex chose the location for its first Lefties store in the CEE. Promenada showcased the first flagship units for top brands like Peek&Cloppenburg and Massimo Dutti. Meanwhile, Nike, Modivo, JD Sports and Sizeer joined a stunning line up of international and regional retailers who now occupy the 140 shops which line the double height mall with soaring glass roofs and atriums. The development, which completed on time and on budget, entailed the construction of a new boulevard, improving traffic and accessibility not only for the asset but also for the whole neighbourhood.
The outlet centres and retail and leisure parks managed by NEINVER in Europe continued to register growth during the first half of 2024, with sales eight per cent higher, beating 2023’s record H1 figures and further cementing the upward trend seen in recent years. Earlier this year the company put the finishing touches on the revamped F&B plaza at Viladecans The Style Outlets, the only outlet centre in the Barcelona Metropolitan Area. Aimed at rejuvenating the centre’s main social and leisure zone, the refurbishment has resulted in enhanced terraced dining areas, seating and events spaces, contributing to a more all-round shopping experience. The space, located on the ground floor, is home to leading F&B brands such as Five Guys, Casa Carmen, Grosso Napoletano, Santa Gloria, GreenVita Brunch&Coffee and Udon — all with outdoor seating. The mood is Mediterranean: warm, bright and contemporary, reflecting the centre’s overall look and feel. With a GLA of 20,000sq m, Viladecans The Style Outlets offers a comprehensive choice of over 15 food and beverage brands.
Shaping the Bursa city landscape and beyond, the Atış Group does not just construct buildings, it transforms lifestyle. DownTown Bursa, developed by Atış Yapı, is an epitome of modern urban living, blending luxury, convenience and innovation in the heart of the city. This state-of-the-art development offers a vibrant lifestyle with its contemporary design and diverse amenities. Located in the bustling centre of Bursa, DownTown provides easy access to key business districts, shopping centres, cultural attractions and transportation hubs. Its strategic location makes it an ideal choice for both residents and businesses. The architectural design of DownTown Bursa is a masterpiece of modern aesthetics. Sleek lines, innovative structures and sustainable materials create a visually stunning environment that reflects the dynamism of the city.
Brent Cross Town is set to be a new town designed from the ground up with people’s wellbeing and happiness in mind. The upcoming project will be surrounded by 50 acres of parks and situated just 12 minutes from St. Pancras International. At its heart will be a vibrant town centre alive with shops, bars and restaurants, with a vision to be carbon net zero by 2030. A joint venture between Related Argent and Barnet Council, developer Related Argent’s vision for Brent Cross Town is braver than ever, it’s time to shake things up. The town will bring together 6,700 elegant new homes, over 50 locations for retail, food and drink, provide best-in-class workspaces for over 25,000 people and build a community around health and wellness with fantastic new amenities. Brent Cross Town will become the gourmet heart of north London, offering exceptional dining experiences and a vibrant new cultural scene as well as ensuring guest’s daily needs are met within a short walk, whether that’s their kids’ day-care, a grocery store or local cinema.
Middle East
His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain earlier this year inaugurated the Marassi Galleria at Marassi Al Bahrain. Marassi Galleria is the first shopping resort in the Kingdom, located within the Marassi Al Bahrain project, on an area of 114,000sq m. The mall offers visitors an integrated experience of shopping, dining and entertainment and sets a new standard for the retail sector at a local and regional level. The mall contains 450 retail shops, including a group of luxury international brands and provides 10,000 employment opportunities for Bahraini nationals in both the mall and with other companies in the broader project. Marassi Galleria also has an entertainment area that includes the largest aquarium in the Kingdom, an underwater zoo, an adventure park, and a cinema complex. The commercial complex is connected to two five-star resorts, the Address Marassi Al Bahrain and Vida Marassi Al Bahrain.
Recently launched in Dubai was the J1 Beach by developer Merex Investment who has brought the spirit of the Riviera to the UAE. The project is a mixture of 13 luxury beachfront dining experiences, offering visitors an escape to tranquillity with a serving of tantalising flavours and innovative blends. A wide array of differen cuisines are on offer across the 500m-strip and the 13 dining experiences are African Queen, Almayass by the Sea, Bâoli Dubai, Chouchou, Gigi Rigolatto, Gitano, INÁ, Kaimana Beach, La Baia by The Beach, Lúnico, Ninive Beach, Sakhalin and Sirene by GAIA.
An upcoming project by Developer Emaar Properties is their new Dubai Square which is set to become one of the world’s most advanced developments, using AI for the design, construction and creating ‘unique’ personalised customer experiences. According to Emaar, Dubai Square is a residential, hospitality and retail city that will boast 10,000 residential units, over 1,500 hotel rooms and a retail district that is approximately the size of The Dubai Mall. Dubai Square will be facing the iconic Dubai Creek Tower and the Dubai Creek Plaza. Emaar is planning to complete both the new landmark Creek Tower and the Dubai Square project at the same time in 2027.
A multi-billion Qatari Riyal mixed-use destination in Lusail City, Place Vendôme was constructed by United Developers, a group of four Qatari investors who partnered to align their expertise in retail, real estate, construction and contracting. The mall itself features 560 different retail outlets with an exclusive luxury wing dedicated to top designer labels as well as one of the largest mall-based indoor amusement park in Qatar called Trocadéro. In total, the project is spread across 1,150,000sq m of retail, leisure, entertainment and luxury, becoming a one-stop destination.
Cenomi Centers’ new Jawharat Riyadh Mall is set to redefine the consumer experience and set new standards in both Riyadh and the Kingdom of Saudi Arabia when it opens in the second half of 2025. Boasting over 370 stores, Jawharat Riyadh will bring luxury, lifestyle brands, entertainment and dining to the capital at a scale not seen before in the Kingdom. It will host 70 plus flagship stores and more than 30 first to KSA retailers. The project will feature the first and largest luxury wing inside a shopping mall spanning over 25,000sq m with more than 60 luxury stores and services. With 185,000sq m of total mixed-use space, not only will the Luxury District delight visitors from far and wide, Jawharat Riyadh will feature three more distinct lifestyle areas including Fashion & Lifestyle Avenue; Youth & Innovation Zone, the Leisure & Entertainment District as well as four F&B areas.
Meanwhile, Jawharat Jeddah will be another new flagship development from Cenomi Centers and when it opens in the second half 2025, it will become the number one mall in Jeddah for footfall and spend. The project is on course to feature 108,000sq m of GLA, more than 300 brands and over 50 flagship sites, more than ten first to Jeddah brands, three food & beverage zones and world-class entertainment.
Solitaire by developers Al-Marqab Investment Company is set to be Riyadh’s newest multi-use lifestyle destination and will consist of three aboveground levels of retail, food and beverage, entertainment, wellness and sport offerings and three levels of basement parking. Within the city of Riyadh, Solitaire will occupy a 60,000sq m area bordered by King Abdulaziz Rd, Al Imam Saud Ibn Faisal Road and Al Thumamah Road. As a multi-use lifestyle destination with design work by Benoy, Solitaire’s focus is on providing a unique, 360° lifestyle offering encompassing the key areas of retail, dining, entertainment, wellness and sport. The opening date of the project is scheduled for late 2024.
Being developed by Wynn Design and Development, part of Wynn Resorts, are overseeing all facets of the Wynn Al Marjan Island resort that is currently under construction in Ras Al Khaimah, UAE. Wynn Resorts is developing the project in partnership with Marjan and RAK Hospitality Holding. It is anticipated to be the first integrated gaming resort in the Middle East North Africa (MENA) region. The curated collection of 22 dining, lounge and bar experiences will each be presented in their own uniquely designed space, many with views of the beach and poolscape, whilst the theatre will feature bespoke production shows. The resort will also include a 15,000sq m shopping esplanade filled with the world’s top luxury boutiques, a five-star spa and a salon. Wynn Al Marjan Island began construction in early 2023 with construction led by UAE-based main contractor ALEC Engineering and Contracting. The resort will open to the public in early 2027.
Saudi Arabia’s ambitious Vision 2030 plan, aimed at diversifying the economy beyond oil, has resulted in a remarkable $1.3 trillion worth of real estate and infrastructure projects since its inception eight years ago. The projects are a crucial part of Saudi Arabia’s strategy to transform into a global hub for commerce and tourism while improving its citizens’ overall quality of life. Below we have highlighted just a few of the current selection of giga-projects and mega projects.
Diriyah is a dynamic mixed-use urban-focused development project from Diriyah Development Company that is centred in the capital of the Kingdom, with a core value to ground all the development’s endeavours in upholding and embracing sustainability and traditional Najdi architecture. The Diriyah project will be a world-class historical, cultural and lifestyle destination showcasing to the world Saudi Arabia’s more than 300 years of history through an engaging and inspiring set of heritage, hospitality, education, retail and dining experiences for residents and visitors. Diriyah is an exploration of the Kingdom’s heritage, past and present; it symbolises the harmony of the birthplace of the Kingdom At-Turaif, a UNESCO world heritage site.
Meanwhile NEOM, the most well-known giga-project, is the land of the future with an ambition to redefine liveability, business and conservation. The regions and sectors that make up NEOM will be fuelled by $500bn from the Public Investment Fund of the Kingdom of Saudi Arabia and local and international investors. NEOM means ‘new future’ and with more than 3,600 staff – from 97 countries – are already living and working onsite, it is already a home for people who dream big and want to be part of building a new economic model for the country and the world. NEOM, also the developer, is already under construction and the first destinations will come online in 2024.
New Murabba is a gateway to another world. It is a new modern downtown overlooking an icon. Here, a human-first downtown where access to greenery and amenities is within 15 minutes, innovative technology and sustainability seamlessly blend with a profound respect for nature and authenticity. The upcoming downtown will reflect the culture, identity and ambition of Riyadh, the Kingdom and the world. At the heart of New Murabba is The Mukaab. The Mukaab, being developed by New Murabba Development Company will also hold the world’s largest open-air entertainment space measuring 160,000sq m and sitting 400m high at the top of the structure.
Qiddiya will be a disruptive destination city recognised on the world stage as the home of the most innovative and immersive experiences. Qiddiya will be a vibrant and liveable destination city based on pillars of entertainment, sports and culture. Family-friendly theme parks, sports arenas suitable for international competitions, academies for sports and the arts, concert and entertainment venues, racetracks for motorsport enthusiasts as well as outdoor and adventure activities alongside nature and environment experiences are just some of the fun attractions being developed. Being developed by the Qiddiya Investment Company, this multi-billion-dollar entertainment destination in Riyadh is set to become the world’s largest entertainment city.
Unlike Saudi’s other Giga-Projects, ROSHN is delivering new urban communities across the Kingdom. These schemes will feature pedestrian-friendly ‘living streets’, green spaces and retail and entertainment outlets, as well as hospitals, medical centres, mosques and sports facilities. Having been established in 2019 by Saudi Arabia’s sovereign Public Investment Fund (PIF), ROSHN specialises in developing integrated urban neighbourhoods featuring residential communities with modern standards across the Kingdom. Aiming to contribute to the development of the Kingdom’s real estate sector, ROSHN provides aspirational living, presenting a complete city experience in a community that boasts unique designs and an array of facilities.
Saudi Entertainment Ventures (SEVEN) is committed to investing SAR50bn (approximately €12bn) to develop 21 entertainment destinations with over 150 innovative attractions, in partnership with prominent international brands, across 14 cities in Saudi Arabia. One of the first of these new entertainment destinations is the Al Hamra district in Riyadh. SEVEN’s entertainment destination in Al Hamra, which has an investment value of more than €720M, is set on a land area of more than 90,000sq m with a built-up area of 167,000sq m. The scheme will be LEED certified and SEVEN expects to attract six million visitors annually. With an expected total of 41 F&B outlets and 18 retail stores, the project is currently on course for a 2025 opening date.
Red Sea Global is behind The Red Sea, a Giga-Project in Saudi Arabia with a focus on eco-tourism. Formerly known as the Red Sea Project, The Red Sea is open for business. Directly employing 35,000 people, the project showcases the landscape and rich cultural heritage of the Red Sea Coast. Upon completion in 2030, the destination will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include luxury marinas, golf courses, entertainment, leisure facilities and an international airport. The destination will also include hotels, residential properties, leisure, commercial and entertainment amenities.
Being built in the heart of Zenata Eco-City, an 800ha urban master-planned development, Zenata Mall is taking shape to become Morocco’s most entertaining shopping, food, family and leisure destination and the largest mall in North Africa with 120,000sq m of gross leasable area. The project, led by Zenata Commercial Project, is a joint venture between Dubai-based Al-Futtaim group, Marjane Holding, Morocco’s leading developer of retail destinations and modern retail; international shopping centre specialist Sonae Sierra and Société d’Aménagement Zenata, a subsidiary of CDG group in charge of the design and land development of Zenata New City. Upon completion, the three-storey mall with a basement car park will accommodate more than 300 stores of apparel, cosmetics, electronics, household appliances and sports brands and various restaurants and cafes, including a Food Hall. Set to open in 2025, the project strives to attain BREEAM environmental certification.
