The 31st edition of MIPIM will be held over four days this month on the 10-13 March and it will turn the spotlight on how cities need to reinvent themselves to meet their inhabitants’ aspirations for a better quality of life. Held at the Palais des Festivals, the event will highlight a multitude of key projects from across the world.
Established in 1990, MIPIM is a four-day real estate event where attendees can meet the most influential players from all sectors of the international real estate industry. It brings the entire value chain together and gives unrivalled access to the greatest number of development projects and sources of capital worldwide.
MIPIM is a unique exhibition and networking platform to forge deals. The 26,800 participants represent all sectors within the industry and offer an unrivalled opportunity to connect during targeted matchmaking, social and business events. With 22,000sq m exhibition space, MIPIM is the premier real estate event expo to discover opportunities and meet key international stakeholders. A leading programme of over 130 conference sessions will provide expert insight into key sectors and property hotspots.
New at the event this year is the Hospitality and Tourism summit which will be held behind closed doors on Thursday, 12 March at 8am. There is also the PropTech Day which will see a day of conferences and networking events wholly dedicated to technological innovation in the urban environment and the MIPIM Innovation Forum which is a dedicated programme of conferences and an exhibition zone to showcase the most innovative solutions and practices of the real estate industry. The upcoming MIPIM 2020 will focus the spotlight on how major cities need to reinvent themselves to meet their inhabitants’ aspirations for a better quality of life.
The central theme of this year’s gathering ‘The Future is Human’ – is following-on from last year’s discussions about sustainable responsibility. The ambition behind the expo this year is to put city-dwellers at the heart of the conversation by focusing on the societal dimension of sustainable development. An attractive city is one that combines good living, the hosting of existing and new residents as well as companies and investors. This virtuous circle must form the baseline for everyone designing and building tomorrow’s cities. With this in mind, the selection of projects on show at this year’s event highlight the need for mixed-use destinations that incorporate retail, leisure, residential, park space. Here we take a look at some of the biggest projects on show and some of the key schemes from around the world of retail real estate.
Project Showcase: Americas
Cidade Matarazzo is a mixed-use project in the São Paulo megapolis. The project consists of the refurbishment of a former hospital and maternity unit, buildings that are part of the city’s heritage. The project will provide a combination of retail space, gastronomy, entertainment and hospitality, a cultural space – Casa da Criatividade – and a theatre and exhibition hall. There will be 69 nanoshops which present the best Brazilian handcrafts. The project also includes an office building, a chapel and an organic street market. It will also include the largest private park in São Paulo. Iconic names such as Jean Nouvel, Philippe Starck, Rudy Ricciotti, Campana Brothers and the Rosewood Hotels brand. The 105,000sq m mixed-use project by developer Groupe Allard is due to launch this year.
A retail and entertainment complex big on interactive experiences and story-telling will open this month in Las Vegas. Called Area15, the centre is described as a “wholly re-imagined world” weaving together immersive experiences, themed events, art installations, restaurants, bars, and nightlife. The project is a joint venture between real estate development firm Fisher Brothers, a diversified national real estate firm and creative agency Beneville Studios, both of which are based in New York. It will offer up to 126,000sq ft of customised tenant space for a curated collection of experiential and retail businesses; 68,000sq ft of leasable ground floor space and up to 58,000sq ft of mezzanine space. A 40,000sq ft indoor and outdoor event space, suited for live music, festivals, corporate events and more will be adjacent to the retail and dining options.
Project Showcase: Asia
Liangjiang has been chosen by the Chinese government as a developmental ‘new area’ for Chongqing, which has a population of nearly 30 million and is one of China’s four centrally-governed municipalities. Chapman Taylor’s competition-winning design for the near seven million square metre site creates a series of campuses and R&D clusters, connected to each other via landscaped walkways, all surrounding a central lake and a collaborative innovation zone called ‘The Centre of Ideas’. A series of residential, hospitality and cultural villages will be developed as part of the masterplan, each with distinct characters and spatial characteristics. There will also be retail, leisure, F&B, hotels, cultural and civic buildings – all served by a railway/metro hub, new roads, paths and cycle ways, water taxis, & electric buses. The opening date has not yet been set.
M3M Financial Centre, presented by Chapman Taylor at MIPIM and due to complete in 2022 will be a 75,000sq m GLA retail and office tower development, adding a 180m-tall, mixed-use landmark to the city’s skyline. The development, by M3M India, will create two office buildings above triple-height shops. There will be retail on the ground and first floors while the second floor will be dedicated to food and beverage (F&B) options. The development is located on Golf Course Extension Road in the sought-after Sector 66 area. The site is located in one of India’s fastest-growing business hubs, which is surrounded by an affluent residential neighbourhood and is close to main routes to and from south New Delhi and the international airport.
The large-scale redevelopment of Tokyo Tokiwabashi by Mitsubishi Estate Co in the Tokiwabashi District in front of Tokyo station covers an area of 3.1ha and will be the largest project in the vicinity. This project entails the development of a 390m super-high-rise tower (Building B) that will become a new landmark for Tokyo, and a plaza of approximately 7,000sq m to support the area as a busy global centre. The project comprises four buildings of 140,000sq m, 490,000sq m, 20,000sq m and 30,000sq m, providing a mix of offices, retail and parking. The opening dates forthis project are spread between 2021 and 2027.
The new Funan project in Singapore which opened last year was envisioned as a vibrant live-work-play hub that fosters emotional connections with its users through lively social and cultural activities, inviting public places and energetic community vibes. Funan comprises a retail mall of 82,891sq m, serving as a platform to inspire retail innovation; two office blocks that meet the needs of a variety of businesses, including corporations and co-working spaces; and The Ascott’s lyf brand of co-living serviced residences. With community, connectivity and convenience at its core, the Funan project by developers CapitaLand caters to the new breed of consumers who favour a collaborative environment and authentic experiences that reflect their passions and tastes.
Project Showcase: Europe
Envisaged to completely refurbish the “head-end” structure of the multifunctional district development project of the Althan Quartier, initially, the entire building complex of the Francis Vienna was planned by the architect Karl Schwanzer and on the ground floor there is also the Franz-Josefs Railway Station. In the future, the three floors high base will offer about 5,000sq m for local supplies, restaurants and service businesses. The upper seven floors with a total surface of about 40,000sq m are for different office uses – from classical offices to co-working units. Particular features of the building are the extraordinary large standard floors and the clear room heights of up to 3.5m and the numerous outdoor terraces in the upper floors. The Francis Vienna is located in the inner city and it is embedded in a historically grown quarter with existing infrastructure. Another advantage is the excellent connection to the public transport system. The project is being presented at MIPIM by 6B47 Real Estate Investors AG and is scheduled to open in 2023.
Developer YIT’s Trigoni scheme will provide nine tower buildings. The core of the proposal is formed by a podium and five tower blocks envisioned in the western area in Central Pasila. Two towers will be built in the start-up phase. Construction of this €500M first phase will commence in 2020/2021 once the city plan has been confirmed. The first tower in this start-up area will be about 180m high with 51 storeys and will include a hotel, apartments and a scenic restaurant. The second tower, 140m high with 40 storeys, will house offices and apartments. The podium will include commercial spaces, street-level storefronts and parking facilities. The start-up area is expected to provide 500 apartments, 300 hotel rooms and accommodate 1,000 new jobs. The podium will connect the towers to the Mall of Tripla currently under construction. The western area covers a total of approximately 120,000sq m and its total value is estimated to be about €1bn.
Bordeaux’s future Belvedere district by Bordeaux Euratlantique forms part of the metropolitan city centre’s extension on the right bank of the Garonne, and aims to create a new district close to the TGV railway station. The scheme will provide a mixed-use district with housing and a centre for tertiary businesses which will link to the business centre on the west bank. The site’s prominent location provides unrestricted views over the 18th-century facades of Bordeaux, a city on the UNESCO World Heritage List. Place du Belvedere, a square at the heart of the development and equivalent in size to Bordeaux’s Place de la Bourse, has a variety of ground floor shops. The district will comprise 50,000sq m of office space, 72,000sq m of housing and 10,000sq m of space for cafes/ restaurants, food shops, supermarkets, sporting and cultural facilities. The project was designed by architectural practices Guller Guller and Hondelatte Laporte and has planned opening dates across 2020-2023.
Hellinikon, with a total area of 6.2 million square metres, constitutes the largest urban regeneration project in Europe, designed to add significant new investments and uses in the areas of tourism, culture, entrepreneurship, innovation and environment creating a world-class destination and a new way of living. Hellinikon will become a paradigm of integrated and sustainable living, transforming the former airport site into a district composed of several communities, each one with distinct character, combining residential, shopping, working, leisure, entertainment, cultural activities, three km of coastal front revolving around a two million square metre Metropolitan Park, the largest coastal park in Europe. Under construction by Lamda Development, the Hellinikon Project is an €8bn investment that is estimated to create more than 75,000 jobs in total and complete in 2025. The selection of the internationally acclaimed architectural firm FOSTER + PARTNERS together with ARUP Engineers, Charles Anderson Landscape Architecture (USA) and numerous reputable Greek designer offices, safeguards the strategic vision of Lamda Development.
Under development by LSGI/SCCI and 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. The centre, which is only 30 minutes from central Milan, will include a cinema, children’s play areas and a marketplace for fresh, local produce as part of the family-friendly offering.
The aim is to create a day-out experience for people of all backgrounds and generations in a unique new style of multi-use shopping environment, which will provide a community hub for the city and the wider region. 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.
Opening in autumn 2020, Amsterdam The Style Outlets will be the first and only outlet centre in the Greater Amsterdam area, just eight minutes by train from Amsterdam’s city centre. Perfectly located in the populous Randstad region – the economic heart of the Netherlands – and in the modern SugarCity zone, considered among the fastest-developing areas in the Netherlands. The outlet centre will feature 115 stores with an exclusive mix of top international and national brands will give visitors a first-class retail experience. The outlet centre will go beyond the ‘smart shopping’ concept to offer visitors a compelling shopping experience in a welcoming environment with high-quality services. Amsterdam The Style Outlets is developed by NEINVER, one of Europe’s leading developers and managers of outlet centres, in joint venture with Nuveen Real Estate.
Designed in the spirit of new urbanism, Granary Island, being presented by Immobel Group, is a return to the classic structure of urban space, based on local history, atmosphere, a functional mix and building tradition in a revisited contemporary style. The project aims to preserve the remains of the historical granaries and, at the same time, create a new mixed-use urban ensemble comprising retail and service units, apartments and a Holiday Inn hotel. As a result, Wyspa Spichrzow (Granary Island) has regained its former glory from Hanseatic times and has already become a stunning showpiece of Gdansk, and the heart of the city is once again teeming with life in this 12,375sq m space.
Ada Mall, developed by GTC Group, designed by Design International and opened last year, is located in the city of Belgrade, one of them most happening cities in Europe. The architectural language of the building is inspired by its proud surroundings. This is reflected, not only in the shape and style of the building’s design, but also in the choice of materials, being a combination of glass and painted plaster covered by vertical wooden elements, green walls, green terraces and gardens. The destination spans over five floors of commercial space, and three levels of underground parking linked together by the mall. With a total GLA of more than 34,000sq m, the mall is home to retail units over three floors, with restaurants and additional facilities such as multipurpose spaces and a Family Entertainment Centre on the top levels. When the night falls, the city oasis rich in nature transforms into a destination surrounded by restaurants and bars. Ada Mall’s fourth floor is the new place to be for those looking to relax in this unique town any night of the week.
Until recently the Nattugglan neighbourhood on Sodermalm, one of the islands that comprises central Stockholm, has been characterised by typical 1960’s urban planning which focused on providing solutions for vehicular traffic, leaving the pedestrian behind. The new office building at Folkungagatan 44, is part of a project which aims to improve this. Located next to busy square Medborgarplatsen, the 22,500sq m modern office building, which includes 500sq m of restaurants and cafes, provides a meeting point in a central part of the city. The project includes a new small internal square and pathways through the building will link adjacent streets. Being developed by Vasakronoan, the project has resulted from a new zoning plan and will be finished during 2021.
Already open and operating by developer Esas Properties, Esas 01 Burda Mall came to life in Cukurova’s heart Adana, one of the cities of Turkey that stands out with its economic potential, especially industry, trade, agriculture and tourism, designed as the centre of life and culture of the region. Esas 01 Burda Mall aims to be the new attraction centre with its indoor and eating areas that will appeal to every taste, global and local brands and bring a new breath to the culture and art life of the region with its performance arts centre.
Another project by Esas Properties is Esas 10 Burda Mall, which has become the centre of attention in Balikesir with exhibitions, concerts, signature days, events and sporting events, Esas 10 Burda Mall is the new meeting point of the city. Bringing a brand new breath to Balikesir with its global and local brands, cinema halls, huge event area with a capacity of four thousand people, entertainment areas and wide store concept, Esas 10 Burda Mall offers its visitors a unique shopping and entertainment experience.
Lateral Property Group, in partnership with investment firm Highgrove Group, announced the plans for the out-of-town retail scheme, located along the M62 and near the existing Junction 32 outlet centre. Planning consent has been agreed and construction began last year with an official opening currently pencilled in for 2021. The development will consist of 55,742sq m of retail floor space in 75 units. Axiom has secured pre-lets with Next, Primark, Marks & Spencer and Boots. The development is part of a 43ha estate that features a 16ha country park and an £18M, 10,000-seat rugby stadium.
A key quarter of Newcastle’s urban core and one of the most strategically important city centre regeneration areas in the north of England. The Pilgrim City project by Reuben Brothers covers three city blocks along the eastern side of Pilgrim Street; Pilgrim’s Quarter to the north, the old Fire and Police station to the centre of the street and Pilgrim Place to the south which will provide a vibrant mix of uses including retail, leisure, hotel, residential, workspace, restaurants, cafes and bars. It will revitalise the street bringing new life to existing listed buildings and complementing those with major new development within a comprehensive masterplan that will deliver substantial public realm improvements, together with the creation of a connected series of new public spaces which expand the pedestrianisation of the city’s core. The scheme is currently due to complete in 2022.
VIA Outlets – Europe’s fastest growing owner-operator of premium outlet shopping destinations confirms another year of impressive growth in 2019. Reinforced by the company’s continued remodelling programme and the introduction of new brands, VIA Outlets delivered exceptional figures including an 8.4 per cent increase in its brand sales and a 6.1 per cent increase in footfall. Four centres undertook significant redevelopment and remodelling works over the past 12 months: Wroclaw Fashion Outlet in Poland, Sevilla Fashion Outlet in Spain, Zweibrückrn Fashion Outlet in Germany and Hede Fashion Outlet in Sweden. Remodelling will continue in 2020 with works completing at Vila de Conde Porto Fashion Outlet in Portugal. In the first quarter, work will also start at Oslo Fashion Outlet as well as a relaunch of Zweibrücken following additional remodelling in Q1. By the end of 2020, VIA Outlets will have undertaken works across all eleven centres within its portfolio.
Project Showcase: Middle East & North Africa
The redevelopment of Sheikha Fatima Park is a joint venture between IMKAN and The Department of Municipalities and Transport (DMT), Abu Dhabi City Municipality. As part of the urban framework vision for “Plan Abu Dhabi 2030”, multifaceted initiatives were implemented to respond to evolving community cultures, to enhance social liveability, and to provide unique sustainable and connected environments. In line with the park’s theme of active wellness, visitors can expect a robust suite of leisure and sports activities to include a skate park, basketball court, splash pads, zip line, outdoor yoga, pop-up movies and small concerts among others. Visitors will also be able to park in a dedicated parking structure with over 300 spaces.
The retail element of SFP will be set across 10,000sq m and six boutique style buildings. The merchandise mix will be curated to offer fresh exciting concepts that support and prioritise local start-ups and regional brands that cater to activities, wellness, education and quality food. It is an all-premium offer, but an offer available at affordable pricing.
The upcoming Mall of Dilmunia represents a balanced modernistic and futuristic architecture which creates an exciting family oriented universe within it. It will include retailers from across the MENA region that are yet to enter the Bahraini market, it aims to provide a quality entertainment, leisure and retail destination, which adds value to the Island’s tenants and guests. Being developed by Dilmunia Mall Development Company, the Mall of Dilmunia will redefine the shopping experience in Bahrain by adding urbanity to the retail experience through the development of a Boulevard. It provides visitors with the illusion that they are outdoors within a vibrant European cityscape. The open-air sky terrace allows visitors to take in the breath-taking view of the island of Muharraq. The terrace is to also include a beautiful mosque representing the Islamic family values, culture and lifestyle.
Set to be unveiled in Q1 2025, Mall of Saudi will be the Kingdom’s flagship destination for retail, leisure and entertainment, offering Saudi Arabia’s most prestigious stores as well as new brands making their debut in the market. Mall of Saudi will represent the next generation in integrated shopping, entertainment and dining. Designed as a lifestyle venue, the mall will contain the most recognisable brands in retail, from fashion and home styling to electronics.
Being developed by Majid Al Futtaim, the mall will feature 296,000sq m of GLA, over 600 stores, 10,300 parking spaces, 33,200sq m dedicated dining space, a five-star luxury hotel with over 275 rooms, a 9,500sq m Carrefour hypermarket and a 40,000sq m indoor ski slope and snow park. The master-planned layout and luxury concept stores will be the ultimate in accessibility and curation. This ambitious vision will deliver seamless transitions from the shopping experience to a wide variety of food and beverage options and a mix of entertainment venues.
A project that emerged from Saudi Vision 2030 and one of four giga-projects currently under construction in the Kingdom, NEOM is a planned cross-border city in the Tabuk Province of north-western Saudi Arabia. Backed by more than $500bn over the coming years by the Public Investment Fund of Saudi Arabia, as well as local and international investors, NEOM’s contribution to the Kingdom’s GDP is projected to reach at least $100bn by 2030, in addition to its per capita GDP is projected to be one of the highest in the world. NEOM will include towns and cities, ports and enterprise zones, research centres, sports and entertainment venues, and tourist destinations. It will be the home and workplace for more than a million citizens from around the world and the first phase is due to complete in 2025.
The Morocco Mall Marrakech project was designed by DPA, a prestigious architectural firm from Singapore. The design was inspired from the surrounding geological and natural landscapes, made of luxuriant nature and inclined to leisure and relaxation. Morocco Mall Marrakech puts the customer experience at the heart of its architecture, offering a meticulous selection of shopping and dining, a clear orientation towards leisure and entertainment, and the city’s first showcase for luxury brands. At the forefront of trends, visitors of the Morocco Mall Marrakech will enjoy, with family or friends, a stimulating experience with indoor and outdoor paths, gardens, fountains, waterfalls and shops. The project is being developed by Aksal Group, will cover an area of 50,000sq m, be home to 190 stores and is currently scheduled to launch in 2021.
The mixed-use development Badya City is part of the 6th of October City and is situated 30km west of Central Cairo within its strategic extension area. Being presented by AS+P Albert Speer + Partner on an area of approximately 1,260ha, a human-centred, green and resource efficient, all near-by city will be developed for about 150,000 inhabitants, offering about 48,000 workplaces. The integrated design team of AS+P was asked to simultaneously develop the citywide master plan as well as the architectural design of more than 3,000 units to launch the project. The integrated modular system developed by AS+P as well as the use of digital tools such as GIS and BIM early on, allows a fast, economical design and construction process and an efficient mass customisation. The planned opening date is a while off though, with 2070 the current completion date!
