MULTI NEWS Edition 2018/2019

Multi acquires shopping centre management in Braunschweig and Heidelberg for Allianz Real Estate

Multi Germany took over the centre management of the Welfenhof shopping centre in Braunschweig on 1 October 2018 and will take over the management of Darmstädter Hof Centrum in Heidelberg in early 2019. Multi Germany will then be responsible for leasing, marketing and facility management at both centres.

Both properties are shopping centres with integrated residential and office space. This continues Multi Germany’s long-term partnership with asset manager Allianz Real Estate. The focus of Multi Germany’s strategic alignment is the growing demands arising from a consolidation of the retail market and the Windows on the city demand for innovative concepts. Holger Hosang, Head of Asset Management of New retail powerhouse Forum Gdańsk Allianz Real Estate GmbH said: "Both shopping centres, Darmstädter Hof Centrum in Heidelberg and Welfenhof in records five million visitors ... and still counting Braunschweig, contribute to our attractive portfolio of retail properties, and are On Saturday, 26 May 2018, Forum Gdańsk opened its doors as one of challenging to manage due to their mixed the most modern multifunctional complexes in Europe. The number of use. Multi Germany has the necessary people who wanted to see the new centre with their own eyes exceeded experience and international expertise to all expectations. The opening weekend alone attracted close to 180,000 meet these high demands. We started the visitors. And four months later, the centre had already pulled in five million partnership with Multi in January this year with shopping centre Allee in Budapest people. Already considered a powerhouse of modern Poland, Gdańsk now and are now looking forward to continuing has a truly unique urban shopping destination on the Baltic coast. this successful partnership." Hubert Stech, Managing Director Multi Germany GmbH orum Gdańsk forms the missing link The centre is open around the clock and enjoy the comfortable seating surrounded added that "Today, it is no longer enough between the main railway station, the provides plentiful public space (over 40 by greenery, or choose one of the 30 cafés to ‘simply operate’ a shopping centre. Old Town and key municipal percent of the whole area). The public and restaurants with gardens. And of Being able to meet the rising demands of F customers takes experienced and strategic buildings. It is located in the historical square has already become a popular place course, they can shop in any number of area of the former Hay and Crayfish for people to meet and relax. Visitors can the roughly 170 stores. There is so much mall management, which utilises the full market and offers a sophisticated array of take a walk along the promenade, look out to see and do that Forum Gdańsk is a truly potential of a property." urban functions on the six-hectare site. from viewing terraces on different levels, immersive experience. Continued on page 16 Continued on page 29

There are no boundaries Continued on page 2

L/R: Patrick van Dooyeweert CDO/CIO, Rüdiger Dany COO, Josip Kardun CEO, Steven Poelman CFO Read the latest news from the Multi board on pages 2, 14 and 24 Edition 2018/2019 | 2 Edition 2018/2019 | 3

INTERVIEW INTERVIEW Content: Interviews

Josip Kardun, CEO Multi Corporation 3

Tomasz Jagiełło, CEO Helios SA 4 Forum Istanbul Scott Abbey, European Leasing Director Multi Corporation 6

Jakub Aleksandrowicz, Director Marketing Pasibus 8

Joao Xavier, Director Marketing Multi Corporation 10

Pınar Yalçınkaya Hacaoğlu, CEO Multi Turkey 12 Forum Gdańsk

or Kardun, being relevant as a brand Shopping centres or company is the logical outcome remain relevant as Rüdiger Dany, COO of having all the basics right. "As Multi Corporation 14 F There are an organisation, you have to show that the last mile to the you are competent. Competence makes customer Michał Biegaj, you relevant and being relevant gives you influence." Multi’s relevance has increased Head of Global from the teams are constantly improving New business and like to combine premium brands with exponentially over the past 18 months. As a no boundaries We can go anywhere and that gives people self-respect and The new Multi is working hard on its low budget clothes. But one thing they all Expansion CCC 20 company, Multi is clearly showing what it pride. We work in a climate of mutual trust reputation and Kardun says this is paying want is a good experience. That’s why the can do and what it wants to do. to solve a problem and with our shareholder Blackstone and this off. "We have won numerous new mandates new generation of many brand stores look Bill Kistler VP/MD of ICSC 22 translates into a positive company culture. for third parties all across Europe. There much more attractive than they used to respond effectively Kardun says this is thanks to the work Multi Multi once again recognised as People are aligned and very motivated are a lot of shopping centres out there and why they offer their customers much has done to transform and future-proof the to take part in this exciting journey. I tell and investors like to spread their risks in better levels of service. Another reason Patrick van Dooyeweert, entire organisation. "That process is already European brand and a force to be them there are very few companies in this terms of who manages their assets. They why shopping centres will remain relevant, CDO/CIO Multi Corporation 24 bearing fruit. Multi is pitching for new geography that are so vibrant and where so are being realistic and I believe we can play is that e-commerce is not that interesting business all over Europe and this is paying many things are happening. People like to an important role in this environment." for low budget retailers because of the high off, as we’ve acquired the management of reckoned with Harry Vroemen, apply for a job with us because we offer an Recently-awarded mandates include those costs. Their business model is intended a number of top-class assets. The assets elite education in today’s real estate sector." for shopping centres in Braunschweig for shopping centres with a lot of footfall, architect TT Design 26 under management for third parties have Competence and relevance are central in Josip Kardun’s leadership. "If you and Heidelberg for Allianz Real Estate. where customers are happy to buy a big increased to nearly € 4 billion from € 2.6 show that you are competent then you become part of the solution." Pan-European strength Extended mandates from properties that bag of clothes for less than hundred euros billion in less than 18 months. Clients are Luca Maganuco, Managing Kardun sees a lot of advantages in colla- Multi has sold off are Magnolia Park in and have a great time. Pedestrian zones are increasingly aware of what Multi is and Director Multi CEE and Italy 30 borative working. "It forces us to review Wroclaw, Poland and Forum Almada in generally much more vulnerable to on-line what the company stands for. We are getting businesses in one matrix structure. They countries, we now have the ability to set the conditions with others, every day if Lisbon, Portugal. Kardun says he is looking competition than good shopping centres, a lot more assignments. Multi is once again also led to the centralisation and expansion up a whole new team, like we did for the necessary, and not just take decisions on forward to the future with enormous simply because high street rents are much being recognised as a European brand and a of operational and asset management Allee Centre in Budapest for Allianz Real our own. Firstly, that is simply good risk confidence: "We are close to some very higher. The rents in our shopping centres Rui Sanches, CEO force to be reckoned with." capability at Multi’s headquarters, together Estate. Even though Multi had no presence with smaller country organisations and in Hungary, we were able to put a new team management and, secondly, we are getting exciting new mandates for shopping centre are much more sustainable." Multifood Group 32 better results because people are more portfolios that would push our third party Flexible across Europe more clusters. to work within just three months. We have willing to go that extra mile when and where management portfolio past the €4 billion Multi has successfully adapted its business staff that can be employed flexibly right it’s needed. Our currency is the credibility mark," he says. "Sadly, it is still too early to Features strategy to be the best Pan-European asset "At the heart of this are the quarterly asset across Europe and we can buy in local Allee Centre Budapest of the company and we demonstrated this say any more about that." management service platform. Kardun review meetings per country or country knowledge when we need to. It is thanks in Gdańsk this spring. Forum Gdańsk was and his team kicked off a number of cluster," Kardun says. "Multi’s head office to this international culture that we can one of the most challenging projects Multi Stretching the definition for retail strategic plans that would remould Multi, in Amsterdam is the starting point from say we can go anywhere to solve a problem has been involved in since its foundation Although the world of retail is changing enabling it to operate as a truly European where we offer our clients the knowledge and respond effectively. There are no in 1982. Before Christmas, the centre dramatically, Kardun is convinced that company, no matter where its roots lie. and expertise to manage their assets and boundaries." looked a long way from being ready, but we shopping centres will continue to play Multi started this process of change aimed operate their shopping centres, and this is pulled it off by assigning the most relevant a central role in urban and suburban at realising this transformation in 2017 and independent of any particular country. The A sense of purpose specialists from several countries. Now it is environments. "Shopping centres will completed it in 2018. The changes included teams in our offices across Europe will add For the transformation of an organisation, reality." remain relevant, because they are the last Opening the alignment of all Multi’s international local knowledge when needed. For new you need an innovative and straightforward Forum Gdańsk 16 leader. Someone who knows him well mile to the customer," he explains. "Online has described Kardun’s leadership style If you want to be will reach its limit at somewhere around as ‘positively disruptive in a time of successful, you need 25% of retail market sales. Delivery is where disruption’. Kardun says what he does is the growth is. E-commerce businesses are not so complicated. "You need to give your to be relevant already opening bricks and mortar stores employees a sense of purpose, something to facilitate pick-up services. Because it’s to believe in. My management team and The leverage of Multi’s Pan-European often more convenient to collect a parcel at I define the framework needed to take us platform is one of the reasons why investors a time that suits you, rather than having to choose Multi. Another advantage is that wait around at home. And you can have a Multi Retail Destinations 18 into the future, but we do not micromanage the execution. Our teams on the ground Multi has its own in-house architects, coffee or a snack at the same time." know exactly how to do that." Kardun TT Design. TTDesign plays a major role in Forum Rotterdam 28 encourages personal contacts and hates defining and designing renovation projects Also, there is a large segment of customers bureaucracy: "Our clients deal directly with and extensions, or working alongside who see shopping centres as meeting the management board and not via lines leasing managers and retailers for creative places and a place to spend their time, of hierarchy. If a client or a country manager shop solutions. This is something no rather than using social media. So you wants to speak to me, all they have to do is agency business can provide on this scale need to adapt your centres to those pick up the phone." and that resonates with real estate owners. people. "What we expect is an increase in They also develop value-add initiatives more affordable brands, such as Primark Elite education to unleash hidden value in assets. For or LC Waikiki, and other mainstream The new structure and operational example, by unlocking unlettable areas, brands. The premium brands may prefer processes have unleashed a new spirit of recreating food courts, and responding to to set up shop in airports and city-centre enthusiasm and strengthened the cohesive the need to make shopping centres more pedestrian zones. People are becoming © MULTI 2018/2019 culture across the company. "The deliveries engaging. smart shoppers; they want value for money Edition 2018/2019 | 4 Edition 2018/2019 | 5

INTERVIEW INTERVIEW

For me, our interests always come first, like Why are investors wary of investing in recent discussions about the location of a People don’t just go to big tree in front of our cinema. I provide the the cinema to see in retail real estate and how best quality cinema anyone could expect and I want the best visibility. But there a movie. It’s a social is this related to the technologies retailers are always aesthetic considerations for the experience investment as a whole and the interests are using, or not using? of one tenant cannot be a deciding factor. So you can’t always get what you want. he global real estate market was while also integrating them with other but about how it’s been filmed, how the booming last year. Investors saw digital platforms such as ecommerce Helios SA is owned by Agora SA, one of T How is the box office performing? music is used, and the space that actors get the market grow by 15 percent, to sites and mobile apps to provide a the largest media companies in Poland. There are so many alternatives. to show off their acting skills. USD 8.5 trillion in 2017 from USD 7.4 seamless omnichannel experience. The company has been listed on the There is no proof that Netflix or Amazon trillion in 2016, and yet we are still Warsaw Stock Exchange since 1999. are competing with cinemas. On the What kind of service do people seeing a decline in the appetite for Augmented and Virtual Reality In addition to his role as CEO of Helios contrary; surveys in the UK and Germany demand today? retail real estate among investors. One Augmented Reality and Virtual Reality SA, Tomasz Jagiełło is a member of indicate that Netflix or Amazon customers The level of prosperity in Poland has of the main reasons for this is that they are gaining in popularity with retai- the Management Board at Agora SA. are usually the best clients because they increased rapidly, as we caught up with are finding it difficult to estimate the lers looking to improve customer Helios owns 45 cinemas with 253 screens are prepared to pay for entertainment. Western Europe. We are a nation of people impact from online shopping and new experience in their stores, and for and over 50,000 seats. The company Let’s face it, cinemas have been fighting that demand a high level of service, so technologies like AI and robotics on the bringing a similar experience to cus- concentrates its operations mainly in off competition for decades, starting with that’s what we need to provide and we have value of retail real estate. It’s no secret tomers’ homes when they shop online. medium-sized cities, but its cinemas TV, followed by VHS, DVD, internet, piracy to invest continuously. Because the Polish that the retail industry is undergoing AR can be used to guide customers are also present in the largest Polish and streaming. But we need to realise that multiplex culture started some 10-15 years structural changes since the internet around stores in an informative agglomerations, such as Łódź, Tri-city, people don’t just go to the cinema to see a later than in Western Europe, our cinemas emerged as a good alternative for and entertaining way by blending Wroclaw and Poznań. The first Helios movie. It’s a way to spend your free time, are still relatively up-to-date and often consumers to do their daily shopping. product details and location. AR can cinema in Warsaw will be opened in the with friends and family. It is still one of have a higher standard than many cinemas They are changing their shopping also be useful to provide staff with the top three things to do for a date, or to in the US. fourth quarter of 2018 in the Blue City habits and so retailers need to adapt support in stores and warehouses by spend a Sunday afternoon with the kids. shopping centre. or go out of business. Half-hearted giving them practical information It’s a social experience. Do you have plans for foreign omnichannel strategies with separate without disrupting their view and expansion? online, mobile and offline channels are keeping their hands free since they Surveys indicate that There is no point entering a market with just not good enough. Retailers need no longer need to hold tablets. Netflix or Amazon established cinemas. New markets would to seamlessly integrate all channels so AR and VR have been tested in retail be Beirut or the Middle East, but there shoppers can complete their journeys for a while but implementation has Helios Dream you are always weaker and in a different been very limited so far. However, customers are usually the as they see fit. They need to implement culture, which is not a good starting point. the right technologies to stand out and this is expected to change this year, best clients, as they are We plan to maintain our focus as a national survive. So, what are the technologies as major supermarkets, department raises the bar for second prepared to pay for company. In Poland, we still have a pipeline that retailers need to use and how stores, fashion retailers and DIY stores for some 10-15 cinemas and this country is should they use them? look to roll out these technologies entertainment always closer to my heart. I believe it is for various purposes, from in-store better to be number one in our country Artificial Intelligence navigation to virtual clothing trials. generation Multiplex What is your all-time favourite movie? than number 15th in Europe. It also means Retailers are looking to implement Pulp fiction. I’d never seen a movie like we can decide to open a new facility quickly, AI-based systems to respond more We know that retailers are currently that, so it was a shock. It was so modern, as we did with Forum Gdańsk. If I’d been quickly and more efficiently to struggling to integrate their online and describing the world so differently, crea- looking to open a cinema outside Poland, customer queries, in addition to using offline businesses. Integrating these experience ting such amazing personalities. I always I could not have taken that risk and made them to enhance various operational new technologies on top of that will love Tarantino’s movies, because he’s so such a decision in a single day. tasks. Solutions include chatbots not be easy and will require additional Polish cinema operator Helios has launched a new concept in Forum Gdańsk, new phase in cinema market development. Investors are looking passionate about his trade. But there are that automate functions previously investments and resources. In some Helios Dream, which in their own words is 'a dream place for a movie.' Gdańsk is an excellent example of this. hundreds of other great movies and it’s performed by customer service agents, cases, retailers will not have the capital It is our third cinema in the city, but our virtually impossible to compare them to and resources available to make such Just one month after it opened, the hi-tech, nine-screen multiplex was to gain a competitive such as answering questions on premium quality makes Helios the perfect each other. It is not just about the story, product availability, pricing and store investments and will therefore lose the proclaimed 'Cinema of the Month' by Celluloid Junkie, the leading online match for Forum Gdańsk. The location is edge by offering opening hours. Interactive customer interest of young millennial shoppers, resource dedicated to the global cinema business. But what makes cinemas excellent and the numbers of visitors this higher standards. NEWS service kiosks are being set up in as their overall experience deteriorates so relevant? To answer this question, Multi News spoke to industry veteran summer have been very encouraging. I’m stores and shopping centres to help compared to that of their competitors. looking forward to seeing how we do this Tomasz Jagiello, CEO of Helios SA. This really marks customers find the products they are It is because of this friction created winter. WilhelmGalerie in top shape looking for, or to give them inspiration by online and new technologies that a new phase for their desired purchases. AI-powered investors are wary of investing in What is your experience of retail real estate. Nevertheless, this irstly, congratulations on winning and Dolby Atmos sound, including 80 customer service tools can also run the cooperation with landlords? for second decade after revamp is creating opportunities for more the 'Cinema of the Month’ title for ceiling speakers - offer a better than real on in-store tablet devices. Image and I have nothing to complain about Multi. speech recognition are important opportunistic investors to re-enter Helios Dream in Forum Gdańsk. experience. Going to the movies has never Anyone strolling through the making way for a number of new F They are very professional and we have features of these AI systems, as well as the retail investment market as retail This new concept makes it one of been so sophisticated and overwhelming. had good cooperation with them since WilhelmGalerie in Ludwigsburg’s city retailers WilhelmGalerie believes will assets previously seen as too expensive the most interesting, innovative and their machine-learning capabilities, 2007, when we opened our cinema in their centre these days is pleasantly surprised boost its popularity with shoppers. The are now becoming more affordable. inspiring cinemas in the world. What is Helios’ position in Poland? which can help them become more shopping centre in Wroclaw. But of course by the new retailers and the obvious modernisation project has covered every This shift is being driven by a change Thank you. We are very happy with this Helios is market leader in terms of the intelligent, accurate and efficient over there is always some tension regarding signs of modernisation. Centre manager corner of the building. New tenants in market sentiment, due to the title, because Celluloid Junkie is a very number of theatres and seats, and second time. fees or rents and that’s where you have Sarah Hildbrand has been working on a include the Danish retailer Søstrene technological advancements affecting influential website and the number one site in terms of the number of screens. Our programme to make the gallery more Grene, which offers a wide range of to achieve a compromise that suits both Digital Payments and Blockchain the sector. for the global cinema industry. Of course, cinemas run up to nine screens. We leave attractive, more customer-friendly and furniture, kitchenware and home sides. The landlord’s position is completely Retailers are increasingly competing our latest cinema always has the most the megaplex with 14 to 20 screens to more modern. She says that a decade accessories in its new 400 sq.m store. different, because they deal with the whole to offer the fastest, most convenient, state-of-the-art design and technology and others. Our focus remains resolutely on after it first opened, WilhelmGalerie Another new tenant is eye-beauty salon shopping centre and the interests of all its and frictionless payment experience always will. medium-sized cities. Since the beginning was definitely due a refresher. This Brauen Bar. With an average of 20,000 tenants. possible. Not only are they looking to Derk Gillis of this century, most of our new cinemas should strengthen the gallery’s position visitors on weekdays and around 25,000 upgrade their point-of-sales systems, What makes this cinema different have been opened in shopping centres, as in the face of increasingly fierce customers on Saturdays, the gallery is Business Analyst but also to introduce various mobile from others? we think this is a better business model competition, she adds. The C&A store very happy with the current number of payment options, such as Apple It offers an amazing standard of luxury. than traditional standalone cinemas. and other stores in the gallery, such as visitors to its 19,000 sq.m of retail space. Pay, Android Pay, and their own The experience starts with the big, eye- Müller, REWE, Reno, arko, Tally Weijl WilhelmGalerie, which celebrated its digital wallet solutions. At the back- catching LED screens that make a major How would you describe the market? and sOliver have all been redesigned tenth anniversary last year, is now more end, blockchain is becoming more impression above the box office and in Is there room for expansion? and modernised. Prior to the upgrade, than ready for its second decade. important for payment processing, the lobby. The lobby is large and inviting In Central and Eastern Europe, the multi- several stores left the WilhelmGalerie, and offers attractive food & beverage plex formula arrived with foreign operators as it provides greater efficiency and options and first-class service. Of course, at the end of the 90s. At that time in Poland higher security. Cryptocurrencies such both projection and sound quality are there were some 850 traditional single- as Bitcoin could be introduced as top notch. The immersive experience is screen cinemas. They started investing payment methods, although these reinforced by the futuristic zig-zag lighting in the big cities, while Helios focused currencies will only become viable in scheme in corridors and toilets. The top on smaller cities just to avoid direct retail if their highly volatile exchange floor really takes the cinema experience competition. Many international operators rates stabilise to some extent. These to a higher level with two Helios Dream have since withdrawn from Poland. The days, customers are becoming ever auditoriums. This new premium concept remaining players are Helios, Multikino more demanding in terms of preferred has been fitted out to pamper visitors in and Cinema City. Like everywhere else, the payment methods and are ready to an intimate, comfortable space to watch industry is slightly overdeveloped in bigger walk out of a store if their chosen movies in fantastic sound and image cities and there is some room for expansion method is not supported. Retailers are quality. The Helios Dream screening in smaller cities. However, the main focus looking to address this by investing rooms - outstanding for their modern of market players right now is to gain in their payment processing systems, design, with leather recliners and electric a competitive edge by offering higher both in-store and at the back-end, seat adjustment, 4K image resolution standards of quality. This really marks a Edition 2018/2019 | 6 Edition 2018/2019 | 7 NEWS I nTERVIEW Q&A MTV at Multi conquers Portugal Francisco Cavaleiro de Ferreira with Forum Summer Sound Managing Director Multi Iberia

Highlights 2018 The successful sale of Almada Forum Sonae MC Continente online sales We provide our to Merlin and of Forum Sintra and are growing quickly. In Spain, Mer- Forum Montijo to Ceetrus was defi- cadona, the market leader, is also nitely one of this year’s highlights. expanding its online sales platform. These sales were the biggest trans- What is not yet clear is how much retailers with a actions in Portugal this year. The impact of the impressive growth of renewal of our management agree- tourism will have on the retail sector. ments with Commerz Real, RREEF, The conversion of these customers Green Bay and the new agreement to to inner-city iconic places/shopping helpful bridge for manage centres for Merlin Properties centres is growing but we think it is were also important milestones in still a long way from its full potential. 2018. Objectives 2019 their international Trends 2019 and beyond Multi’s strategic focus is on third par- The economic situation is expected ty management mandates. We want to remain stable for the next two to be the best in class as a service Part of Multi Portugal’s strategy is and Forum Sintra. The festival also gave years in both Portugal and Spain and provider for our investors and part- expansion to offer its visitors summer concerts. a number of "MTV Newcomers bands" that will give us a strong base to im- ners. Despite our strong presence in This past summer the marketing the chance to showcase their work and prove our performance and increase Iberia, we are putting a strong focus organisation teamed up with global open for the headliners. revenues, especially on the rental on Spain, where we see the biggest music TV channel MTV to organise a front, given the higher demand for room for growth. In Portugal, we Scott Abbey joined Multi as its European Leasing Director in March series of music festivals at five shopping MTV covered the event and the space right now. The overall upgra- will consolidate the position we have 2018. He talks about how Multi works side by side with retailers to keep centres across the country. Admission concerts were broadcast live on TV. ding of shopping centres – in terms of built up as one of the leading players its shopping centres fit for the future. was free. This was a 'win-win' for everyone. tenant mix (F&B and services) and in over more than 20 years. We will also MTV got to be part of a national music terms of look and feel - in both Spain continue to push for the promotion event with top Portuguese bands. The and Portugal is also making this re- and development of existing plots shopping centres saw their footfall tail format more attractive again for in Lisbon. Thanks to our extensive cott Abbey brings more than 30 need to cater to a retailer, understand to market their collection, but without They provide market expertise and increase by an average of 9% and both shoppers and retailers. Online experience in the sector for shopping years of international experience their business and really make a the financial risk of a web shop." The knowledge of the market as a whole the event boosted brand awareness will keep growing, and we will have centres, retail parks and offices, we S in various senior roles in the compelling case as to why they should customer no longer thinks in terms and they direct negotiations in the among the young target group (15-24 to keep a very close eye on the growth will provide the much-needed con- retail real estate industry to his new enter your shopping centre." For years, of physical or digital channels and local language with leasing managers year-olds), some of whom visited the of online in the food sector, which tinuity for the six ongoing redeve- position. Prior to joining Multi, Forum Summer Sound by MTV shopping centres for the very first time many European shopping centres they have become more task and for specific shopping centres. This is could have an impact on shopping lopment projects in Portugal, while Abbey was Group Head of Leasing at festival included 13 days of music and to attend the concerts. The attention operated successfully without much efficiency driven. So their behaviour is similar to how large retail organisations centre traffic. In Portugal, Jeronimo constantly looking for opportunities Atrium. From 2001-2010 he worked more difficult to predict and retailers’ eight national bands (Anselmo Ralph, from other media channels boosted competition. "The industry changes are set up, Abbey says: "On a corporate Martins has just launched an online to increase the value of the assets we at Unibail-Rodamco, as the Group of the last 10 years have created revenues from all channels are now level, I reinforce local negotiations, Dengaz, Aurea, HMB and others), the earned media value to well over sales platform with a partner and manage. Head of Leasing. In between these more competition and challenges intertwined. Abbey: "After years of build relationships, and advise clients hosted by Almada Forum, Forum € 2 million, for just 9.5% of the annual jobs, he made the switch to the retail for European landlords," Abbey says. discussion about online versus brick about their existing portfolio, discuss Algarve, Forum Coimbra, Forum Viseu marketing budget. sector when he joined Foot Locker "The traditional shopping centre & mortar sales, both retailers and how the stores are performing and Europe as Vice President Real Estate. model is evolving because of the developers began to realize that they how Multi can support them as a

"That experience was so important changing shopping behaviours such NEWS in providing insight into the drivers as e-commerce and the growth of The few new shopping centres that of a successful retailer," Abbey says. online sales, and growing physical "I understand now how much more competition. Shopping centres which do open are spectacular Forum Lviv celebrates BREEAM, Value-add strategies complex and sophisticated the had been unchallenged for years are in the same boat. No one has much landlord. We can also identify new th decision making process can be in suddenly found new competition for clarity further ahead than three or four opportunities in new markets based birthday and 13 award Transformation and repurposing in Valdichiana selecting and approving new real their customers and tenants. These years in terms of what the future will on where retailers are looking. My This year, Valdichiana Outlet Village in Tuscany, Italy, began a refurbishment estate opportunities." In his present changes created this new environment bring for our industry. What we are focus is on those key retailers that are In September 2018, Forum Lviv added its 13th award to its trophy cabinet when it project to enhance mobility and functionality on the first floor. The 930-sq.m space role at Multi, he finds it helpful to in which Europe’s landlords realized: seeing is that landlords and retailers in multiple countries and that have won the ‘Best medium-sized SEC’ award at the 2018 Retail & Development Business featured a local eatery with a lack of footfall, a nail shop and empty units in a dead have experienced the 'other' side: we need to focus on our retailers, are starting to work together rather multiple stores. To remain relevant, Awards in Ukraine. The winners were determined by the open voting of market end corridor. On top of this, the only way to reach the space was a lift that was "I have learned the importance of to understand their business. We than confront each other. Retailers you have to meet with them regularly, participants and the Retail & Development Business Awards Expert Council. In poorly visible. The first floor was converted into a brand new 1,300 sq.m catering need to reinvest in our shopping prefer to work with landlords who are and we are constantly responding to the same month, Forum Lviv became the first centre in Ukraine to be awarded a area featuring Old Wild West and Doppio Gusto. The nail studio remained, with At a time of great change centres, to keep them relevant. The partners rather than obstacles." In their strategic moves." BREEAM certificate. "We hope that we will serve as an example to other developers improved visibility. A new staircase from the central square now tempts numerous in consumer behaviour understanding of what we need to this respect, he believes that Landlord on the market," says Marina Nesterenko, the Forum Lviv manager. BREEAM visitors to ascend to the first floor every day. deliver today is very different than 20 attempts to capture out-of-store Service platform supports requirements were taken into account during the design and construction stage and evolving retail, years ago. This has created a major sales by extending the definition of international expansion of Forum Lviv. The centre remains as popular as ever in the city. During a two-day shift. What we see today is that the ‘sales’ might prevent a retailer from As a fully integrated retail manage- event programme to celebrate its 3rd birthday, Forum Lviv drew a record-breaking retailers prefer to work with few new and re-developed shopping choosing a particular shopping centre. ment service platform, Multi helps 100,000 visitors. landlords who are partners, centres are experiential." Abbey "We know that there is a positive retailers with their expansion plans. agrees that Multi’s Forum Gdańsk, correlation between the internet sales "Firstly, we insure that our centres are rather than obstacles which opened in April, is an excellent in a certain postcode area around relevant, are well performing, and example of this. "It represents a a physical store and vice versa. But that we have the right retail mix. understanding a retailer’s motivation, modern version of what retailing the complexity to report those on- And that they are well marketed and the organisational matrix they work needs to be, both in terms of retail line sales within a trade area puts well managed so they are interesting with and all the investment hurdles offer but also as a meeting place and the retailer in an onerous position." locations for retailers. Secondly, it they face to get deal approval." fully-fledged leisure destination." Another trend is preferences for is important to understand that the Although he was born and educated shorter lease terms, because in the challenge of entering a new country in Santa Barbara, California, Abbey From passive to active modern market retailers need greater is so much more than just agreeing has been living in Europe for more Landlords have now moved away flexibility, to change strategies. For on a location available at a market than 20 years and is now based in from being passive investors to active instance, break options are requested price. Retailers must consider legal, Amsterdam, from where he travels managers of their assets. "Retailers are more often, Abbey notes. "Shorter fiscal, financial, human resources, frequently to Multi’s European offices. also going through many changes, leases also give landlords greater logistics and more. The landlord is but these are unique to every retailer," options and opportunities to replace just one piece of the puzzle, but it is an A new era for retailing Abbey says. "The big international and modify. Our outlet centres are important piece. So when retailers are Talking about the ongoing trans- brands are exploring internet plat- very focused on the retail mix and considering entering a new country, formations in the shopping centre forms and new technology in their shorter-term leases provide the Multi’s international ecosystem with industry, Abbey says: "My initial years stores with the goal of offering a seam- opportunity to be very active in terms familiar partners in so many countries in the industry were in the US, one of less experience to their customers. of changing their retailer offer." provides them with a helpful bridge the most developed and competitive While small independent retailers to cross that gap and make their markets in the world. Landlords were have less need for an online presence, Responding to every strategic move international expansion as painless as constantly being challenged by new they are at greater risk of losing sales In his position as Leasing Director, possible." competition and retailers had the to online spending. And then there Abbey is overseeing Europe. Each advantage of having lots of choice. are the retailers in between, who are country has a regional director, who is US landlords learned quickly that you sitting on the fence or use the internet responsible for a region or a country. Edition 2018/2019 | 8 Edition 2018/2019 | 9 NEWS I nTERVIEW Q&A Multi Portugal hosts Nickelodeon’s We are changing Luca Maganuco the way people 'Nick Chefs' TV show Managing Director Multi In July and August of this year, Multi CEE and Italy think about Portugal teamed up with TV channel, eating in Nickelodeon, by VIACOM, to host the casting and recording of 10 episodes of Highlights 2018 shopping centres Nick Chefs. Nickelodeon transformed This year has been very dynamic. shift in sales from Sunday to other five malls into television studios, Italy started Q1 with the successful days and a very limited decline in recording live the program that gives sale of six of the nine retail assets overall sales. Entertainment venues recipes of cooking to the youngest. we managed to a retail fund. The and restaurants have been the har- team worked very hard on what was dest hit, because visiting a shop- Multi took Nick Chefs kitchen from the north to the south of Portugal, as a highly complex deal. They helped ping centre that is two-thirds closed recording sets travelled from Forum the previous owner to get the right is never interesting for customers. Coimbra, Forum Sintra, Almada Forum price and thanks to the team’s highly The biggest negative impact of this to Forum Montijo and Forum Algarve, professional conduct during the ne- trading ban has been on employ- challenging young people to live a gotiations they won the management ment, largely reducing the opportu- matchless experience. The event gave For the successful Nickelodeon Nick mandate from the new owner. And nities for young people. I’m not sure hundreds of children a chance to display Chefs project Multi has been nominated despite a number of extraordinary it makes much sense for the govern- their talents as mini-chefs in the casting for an award at the 2018 edition of the activities, our asset performance ment to restrict opening hours at sessions and thousands of visitors ICSC Solal Marketing Awards. through Q3 has consistently out- a time when consumers are look- helped out during the recordings, all scored the national market average, ing to buy whenever and wherever hosted by TV presenter Catarina Perez. both in terms of footfall figures and they want. Penalising retailers for Multi Portugal currently manages Each shopping centre also invited two retail sales. In CEE, the key event opening on Sundays to meet con- six shopping centres (Armazéns Portuguese digital influencers for a was the opening of Forum Gdańsk, sumer demand certainly won’t help According to TripAdvisor, Pasibus is a must-visit burger bar in Forum Gdańsk. They serve what are probably the best do Chiado, Forum Algarve, Almada show-cooking moment shared with the which is now the main shopping them compete with the burgeoning burgers in Europe, and certainly in Poland. Everything is fresh, the waiters polite. You may have to wait a while for Forum, Forum Madeira, Forum Viseu public. The feedback from participants and leisure destination for the e-commerce sector. Pasibus: the order, but this is more slow food than fast food. Multi News thought it was high time we visited this incredibly and Forum Coimbra), six retail parks was very positive, as Multi Portugal and Baltic Sea region, with over one (Braga Retail Center, Alverca Park, popular burger bar and talked with Director of Marketing Jakub Aleksandrowicz. Nickelodeon had given them a memory million people visiting within the Objectives 2019 Lima Retail Park, Portimão Plot, to cherish. And that is what this was all first three weeks of its opening. The key objective for 2019 in both extremely about: making your shopping centre Santarém Retail Park and Aveiro Retail Forum Gdańsk has already become Italy and the CEE is to increase our his company is just five years old, truly yours, not just for shopping but Park) and two office parks. The Mall To replicate the success of the first Pasibus the same basic style, each venue has its a recognisable benchmark for the assets under management and fur- but is already a household name in and provide consistent quality, the also in terms of fun and creativity. Management team has daily contact own design details that make them both Polish and European retail industry, ther diversify our client base. And Poland. The team behind the success company has its own Pasibus production recognisable and surprising. This keeps with about 1,400 shopkeepers and T thanks to its architectural and inte- popular of Pasibus began selling home-made after achieving remarkable results in facility in Wroclaw. Everything is home our concept far from the mass product Increasing the venues to five – from one the portfolio includes over 400,000 rior design, tenant mix and innova- terms of NOI growth and improving burgers and self-mixed sauces from a food made using the original recipes and space and gives each outlet a unique and the previous year – enabled Multi to sq.m of GLA. These shopping centres tive concept. all asset fundamentals (occupancy, truck. The first truck hit the road in 2013 ingredients before it is shipped out to all fresh feeling. leverage the project in positive way for and retail parks welcome around 85 visitors, sales, tenancy level) in our and when street food was still a novelty in the outlets. Aleksandrowicz: "We have its shopping centres, and our visitors. million people each year. Wroclaw. centralised menu management and all Aleksandrowicz is excited about Pasibus The centres saw a significant rise in Trends 2019 and beyond owned portfolio and a partial reor- The Sunday trading ban is currently ganisation to adapt our structure outlets offer a ‘Monthly Special’, made of in Forum Gdańsk. "I think it’s our most footfall and sales, proving that it is well In July 2018, Merlin Properties From street food to high street being discussed in several European to a multiple client environment, seasonal ingredients. It makes our burgers beautiful project! It’s pretty big, the interior worth continuing with these kinds of acquired Almada Forum in Lisbon, extremely Pasibus’ successful food truck concept countries could have an impact on our team is now absolutely ready to unique. We care about the taste and we is amazing and the downtown location projects. Multi also managed to increase part of Blackstone’s Rio Tejo retail helped lay the foundations for what is now the retail market and consumer be- welcome new clients and help them check quality and freshness every day." couldn’t be better." He acknowledges that its communications with teenagers on portfolio. on the road to becoming a mini-empire they had some difficulties due to the late the ground fivefold and generated a haviour. In Eastern Europe, where to maximise the value of their retail tasty of burger trucks and bars in Poland. The Lifestyle brand with online fan-base opening, but that was understandable huge amount of television and media the ban has already been in effect for properties. original food truck, named Dziadzio Pasibus has built up a large online fan- and the cooperation with Multi went well. coverage. almost a year, we have seen a clear a (granddad), still enjoys a good trade on base by creating a lifestyle around the "We had people queuing up outside on the Powstańców Śląskich in Wroclaw, but is not brand. "Our clients love the brand. They opening day. It is a very impressive project rolling anymore. Three new Pasibus trucks feel they belong to our 'Pasi community' thanks to its structure and the concept of a travel around the country to music and and that makes them feel special," says river flowing through the centre." food festivals or private parties. The early Aleksandrowicz. "The average age of our success paved the way for Pasibus to make customers is 18-35, but we have all sorts Growth as a learning process Value-add strategies a big step up to a fast-growing network of of clients. We try to be as universal as What is the hardest lesson he has learned stationary bars and restaurants. The firm possible. We follow the fitness trend and from such rapid growth in such a short Almada boosts has two concepts. In the street restaurants, show people that burgers can be healthy if time? Aleksandrowicz: "We employ some centre revenues you can sit inside until late and take your you eat sensibly and have a healthy lifestyle. 300-350 people, including production and Almada Forum in Lisbon pick from the full range of burgers, while We also serve vegetarian burgers and salads office staff and drivers. I think the hardest has leased a large and enjoying a few drinks including alcoholic and we make our own soft drinks without part is finding the right people, and previously unused unit to beverages. The open counter burger bars additives. In Poland, we have the fourth keeping them engaged for the long term. Fiat, Honda and Kia as a can be found in shopping centres like biggest Facebook page in the food sector, But we are learning all the time." showroom for their latest Multi’s Forum Gdańsk. The network now after global players like KFC, McDonald’s models. This move has includes a total of 16 outlets in Wroclaw, and Dominium Pizza." During the conversation our burgers are increased centre income by Katowice, Poznań, Lubin, Warsaw, Łódź ready. A sesame bun, beef patty (grilled at least € 75,000 per annum. and Gdańsk. Create and experiment to your preference), nachos chips, rocket Pasibus burgers may not be the cheapest leaves, jalapeno peppers, home-made red Passion for quality in town, but they are very reasonably curry sauce, and a slice of cheese. This was a

The transition from hipster food truck to priced. Aleksandrowicz: "We keep our hamburger at its best, piled up generously. NEW LEASES NEW LEASES gourmet burger place happened quickly. prices as low as possible. We do offer some And the burger proved enough of a meal on low priced burgers, so they are affordable its own for a regular dinner. for everyone. And we have the prestige First Snipes in Almada Forum & Other Stories in Forum Gdańsk burgers that are more expensive. "Pasibus It probably won’t be long until another boasts a choice of 18 different hamburgers, Pasibus restaurant is born. We asked including unique compositions with Aleksandrowicz what his dream location avocado or chorizo. The newest bestseller would look like. "There’s plenty of space is cranberry sauce, peanut butter and for expansion in Poland," he says. "Dream bacon. "A weird combination – inspired by location is a big word, but any big city in a Elvis Presley - but people love it!" Want to Western European country, such as the UK skip a component? No problem, all burgers or Germany, would be wonderful. But we’ll are made on demand. "We have a burger see. We’re still young. We’re looking for for everybody." steady growth, but I don’t think we should grow so fast that we lose touch with our Captivating industrial interior own brand or forget the small things." "I believe we are changing the way people think about eating in shopping centres, which has long been associated with fast food," says Aleksandrowicz. "Our burgers are freshly made, so you may have to wait Once again Almada Forum is the gateway to the Portuguese market. In late 2018, This exclusive Swedish fashion label (H&M group) occupies over 900 sq.m across for 10-15 minutes, but people are happy to German footwear and streetwear fashion chain Snipes (Deichman Group) will open two floors. & Other Stories is devoted to women's fashion, including shoes, jewellery, do this. The restaurants’ interior is part their first store in Portugal in the 80,000 sq.m shopping destination Almada Forum bags, cosmetics and more, all of which are designed in their Los Angeles and of the experience. Although they all have in Lisbon. Stockholm ateliers. Edition 2018/2019 | 10 Edition 2018/2019 | 11

I nTERVIEW & Winners Q A Pinar Yalçinkaya Hacaoğlu ICSC Solal Marketing SILVER CEO Multi Turkey Awards 2018 WINNER Highlights 2018 This has been a challenging year for This trend will lead to technology- Turkey, marked by the sharp rise based hybrid approaches, ultimately in foreign exchange rates. This was making shopping centre experienc- to the company’s reputation. Xavier: "Our followed by a government decree es more entertaining and efficient. aim is to come up with excellent but honest dictating the conversion of all rental Shopping centres will continue to marketing campaigns. We’re not ashamed agreements into local currency, evolve towards becoming commu- Shopping if a shopping centre has a problem. We which effectively resulted in further nity centres, helped by the contribu- explain how we identify the problem, rent discounts by Multi Turkey. The tions of the local communities they come up with a solution and measure the entire retail sector has been impact- serve. Technology and community impact." centres ed and will need to adapt to the new engagement will give shopping cen- Thanks to his various roles within the dynamics, including a highly volatile tres the opportunity to communicate ICSC – currently as Solal Awards Chairman FX market. Despite the uncertainty, with their consumers on an entirely – Xavier says he has a pretty good view of Multi Turkey remains committed to different level of trust, inclusion and get people European marketing trends. "Sometimes Multi Turkey was awarded four Silvers at the Solal Marketing Awards continuing to offer the best-in-class loyalty. a concept can be simple but very effective. Ceremony & Dinner on 27 September in Amsterdam. experiences to over 160 million visi- For example, Multi won a Solal Gold Award tors in the 14 shopping centres in its Objectives 2019 for sales activation. For every set amount These awards are seen as the Oscars for others to try harder," said Bill Kistler, ICSC portfolio. Our efforts were recently We will continue to invest in our spent in Multi’s shopping centres across shopping centre marketing teams and Executive Vice President & Managing recognised by four Silver Solal Mar- existing shopping centres and the out of their keting Awards from the ICSC. And Turkey customers received fuel vouchers. they are always received with excitement Director EMEA. With 19 entries for the refurbishment of Marmara Forum, Simple, right? But thanks to the huge and passion. "I am thrilled that we can competition, Multi was the finalist with this year four of our shopping centres strengthening its position as a success of the campaign, the return on be the platform that recognises the best the largest number of nominees. The four celebrated their 10th anniversary: modern food and leisure desti- investment was on average 10-20 times." achievements. Great showcases inspire winning campaigns are: over the last decade, Forum Aydın, nation. One of our priorities is homes Forum Trabzon, Forum Çamlık and to improve our communications Connect to buyers Category Business to Forum Ankara became reference with all our stakeholders, inclu- Xavier: "We do extensive customer and points of modern shopping centre ding tenants, the general public and Shopping centres across Europe have unveiled an array of initiatives to organisation. To our international clients marketing research. In Hungary and Business experience and our teams deserve a our own employees. We will build engage customers in the face of major market challenges. Multi’s Director we offer a uniform service platform that Poland, we are starting a new loyalty Marmara Forum, Istanbul: standing ovation for their hard work communities and create added covers centre management, operations, scheme that enables us to track customers Basket Burger and commitment. value through sustainable, multi- Marketing Joao Xavier knows pretty much everything there is to know To support a basketball team of Anadolu marketing, leasing, and cost controls for physically and understand their behaviour functional, experience-rich shop- about shopping centre marketing. their assets. and preferences. The more info we have, Efes Sports Club and to boost sales of Trends 2019 and beyond ping centres, leveraging our success the easier it is to come up with customised McDonald’s, Marmara Forum offered a We will see the continuing conver- on the basis of innovation and sha- Value-add initiatives offers. Our teams are very diverse in terms coupon redeemable for a free burger to gence of online and offline shopping, ring. We believe in Turkey and we are ith a view to Multi’s growing organisation in Turkey gave Xavier a wealth Multi constantly upgrades and optimises of age and experience. We invest in young fans with game ticket receipts. Anadolu as shopping centres continue to in- committed to combining the inspira- portfolio, Portuguese-born Joao of experience in how to constantly reinvent its shopping centres through active asset talent who we can train in shopping centre Efes managed to score a last-minute foul vest in technology to meet the expec- tion we get from local communities Xavier has moved to Multi’s head- the raison d’etre of a shopping centre, how management and key value-add initiatives. marketing. These young people really shot to win the game and the audience to offer the emotional experience today’s tations of younger generations and with our global expertise. W got their gifts from McDonald’s. The quarters in Amsterdam after 8.5 years Xavier: "Every centre is put under a understand millennials and generation at the company’s Turkish head office. customers want, and how to develop a magnifying glass to identify potential Z, who are difficult to grab. Our visitors campaign generated around € 380,000 in online retailers try to create more vis- He has joined the group operational nose for the do’s and don’ts of marketing improvements. Our in-house architects have less interest in mass marketing, and PR coverage at a cost of just € 4,200 to ibility by opening bricks and mortar team as Director of Marketing for the Mall campaigns. TTDesign recreate and redefine spaces are looking for a certain experience and McDonald’s. ROI value came in at 89. stores. Management division across Europe. and improve the landscaping. Sometimes specialised, unique shops that appeal ‘United Nations’ of Multi we lose value, but you generate an indirect to their individualism and offer them Every customer Xavier is a person bursting with energy return by creating a better environment. attention from qualified staff. That is Category Brand Awareness & and enthusiasm about his business. "We And sometimes we boost direct revenues, very different from a few years back. That Positioning who visits is an manage over 110 retail assets in 14 different for instance when a hypermarket personal attention is important, because Gordion, Ankara: opportunity to sell countries in Europe, all with very different downsizes so we can add new units. The every customer who visits is an opportunity You’re the star of Fashion cultures and languages; from Portuguese aim is to maximise sales from every single to sell." Young designers were invited to submit Xavier started his Multi career in 2009 to to Latvian, from Turkish to Italian. My square metre in the centre and generating their designs online for an opportunity to manage the major 178,000 sq.m shopping challenge, which is very exciting, is to additional value." Xavier believes the market will soon stop present their creations to a jury of fashion centre Forum Istanbul. It was in the bring these ‘United Nations’ together to distinguishing between online and offline professionals and icons, and to compete for midst of the worldwide financial crisis make us the best in our sector, driving Holistic approach buying because customers see them as the an internship with a renowned designer. The and vacancy rates were very high. In his our business to be better and better day In early 2018, Multi assumed the asset and same. People can now shop online while response was overwhelming: 1,149 designs previous job, Xavier had already gained the by day." Xavier says communication is property management for the prestigious they sit in the shopping centre eating and were uploaded to the dedicated website. know-how on how to manage such a major the fundamental process that shapes the 53,100-sq.m Allee shopping centre in drinking with their friends. "What we are The finalists got to show their designs on project. In a very short timeframe, Multi organisation: "The marketing, where Multi Budapest for Allianz. Xavier: "This is a seeing now is that people or families can the catwalk for a celebrity jury at a festive had opened a total of 12 large shopping has traditionally been very successful, premiere event with fashion and music. centres across Turkey and was managing was already well aligned but I saw a People can now shop online three other retail assets. Xavier was made need to standardise reporting proces- while they sit in the shopping centre head of Mall Management, committed to ses and formats. We now have more cost Category Footfall Activation almost one million sq.m of retail space. synergy and better work flows. We share very exciting project and marks our entry be at home together but everybody is best practices and know-how across the Marmara Forum, Istanbul: Building a successful mall management in a new market, Hungary. We’ve already busy in their own digital world on their Final Four Fanzone put together and trained a brand new own devices," Xavier says and concludes: Marmara Forum’s ‘Final Four Fanzone’ mall management team. Allianz is quite "A shopping centre is one of the few was a three-day Basketball celebration impressed with the changes we’ve managed things that can get the people out of their featuring player meet & greet events with to make over the past 10 months. For homes." Anadolu Efes Basketball Team, themed every shopping centre, we take a holistic exhibitions, fan merchandise, training approach and define a strategy to take us workshops, and a local teams tournament. where we want to be in 2-3 years. We look The Fanzone brought 140,000 sports lovers at the design, the customer journey and to the shopping centre and generated experience, efficiencies, marketing and + 23% LFL footfall traffic within the branding, and the centre’s competitive shopping centre. It generated € 1,470,000 position. A centre may be the best in its worth of PR coverage. region today, but we want to make sure it is still the best in the years to come. We BIO Joao Xavier treat every project as if it were our own. 1997-2003 Shopping centre deputy Our priority is always to deliver the right director/director at Sonae Sierra, Portugal Category customer services A brief time-out for a group picture of Multi’s international marketing managers. product." 2003-2005 Shopping Centre Director in Forum Bornova, Izmir: In the front row (left to right) are Multi's two operational directors Joao Xavier, Parque Nascente, Portugal, at Klépierre Wish & Have Scott Abbey and Multi's COO Rüdiger Dany. The bi-annual meeting at the Impactful marketing campaigns 2005-2007 Property and Asset Forum Bornova’s ‘Wish & Have’ mobile headquarters in Amsterdam was chaired by marketing director Joao Xavier. The first Multi has won more than 25 international Management at Apsys Polska app allows visitors to arrange free services, day of this two-day session was intended to discuss organisational aspects, present including cots, high chairs, wheelchairs, marketing awards in the last six years 2009-2014 Managing Director Forum plans for the coming year, exchange ideas and share best practices. On the second day, newspapers and books delivered to their alone. Xavier says he is very proud. Istanbul at Multi Turkey marketing experts in the field of loyalty, branding and other relevant issues offered location in the shopping centre whenever "It means we really do stand out in 2014-2017 Senior Director/Head of Mall an interesting programme full of new ideas and inspiration. The next meeting will be the sector." He believes this is due to a and wherever they wish Management at Multi Turkey held this autumn in Istanbul. combination. The awards add credibility Edition 2018/2019 | 12 Edition 2018/2019 | 13 NEWS NEWS I nTERVIEW Best of BREEAM 2018 Stadsfeestzaal attracts retail for Forum Kayseri, Turkey champions Multi Turkey’s new CEO

affirms Shopping centre Forum Kayseri in Multi and owned by Union Investment. Anatolia, Turkey, has won the BREEAM The Forum Kayseri management team Award for commercial projects in-use has been able to achieve this high level for its extraordinary achievements thanks to a strategy of continuous Multi’s faith in in sustainability. The winners of the improvement and innovation in The unique Stadsfeestzaal shopping centre - in a restored listed Rococo BREEAM Awards 2018 were revealed energy, water consumption and waste at a gala event in March in London. management, as well as environmental building on the Meir in the heart of Antwerp – is constantly evolving. A woman on a Competitors included buildings in and sustainable procurement policies Regular innovative additions to the retail mix, plus a range of other Turkish market countries all over the world, such as and environmental awareness projects. options and a look and feel that are a perfect match for the intended mission to emerge Brazil, the UK, Norway, China and The project was awarded a BREEAM Very target group mean that Shopping Stadsfeestzaal makes full use of its Poland. The award was clear recognition Good rating in 2012 and with outstanding from the storm of Forum Kayseri’s position in the level BREEAM-in-use certificates for potential, says centre manager Hans d’Hondt. even stronger international arena. Forum Kayseri both Building Management and Asset (66,553 sq.m GLA) is managed by Performance in 2017. Søstrene Grene The arrival in May of 2018 of the first Søstrene Grene in Belgium has bolstered the shopping centre on a number of fronts. Søstrene Grene offers original and affordable Pinar Yalçinkaya Hacao ˇg lu took the helm as CEO of Multi Turkey in decorative items and design furniture in what is a clear growth segment. The retailer September of this year. In a turbulent time for retail in Turkey, Yalçınkaya is growing rapidly in Europe, thanks to a range that is a perfect match for current Hacaoğlu brings almost two decades of experience in the Turkish retail consumer demands: affordable, Scandinavian design with a focus on originality and sustainability. Consumers are remarkably enthusiastic and Søstrene Grene’s furniture sector to her new role, and a singular determination to build on Multi’s has unexpectedly turned out be its top selling items at Stadsfeestzaal, despite the city success in the country. centre location.

Closer communication with HQ Amster cities that we serve. The innovative nature, Flying Tiger dam and their support will be key factors in architectural quality and sustainability of Stadsfeestzaal has attracted a number of retail champions in recent years, including achieving our objectives. our projects, together with our sensitivity Action, Flying Tiger and now Søstrene Grene. These new chains have shown that to local environments, all help to make their ever-changing and low-price product ranges can attract large groups of return You now lead a team of 190 us attractive to both local residents and customers and they seem untroubled by competition from e-commerce. Their stores professionals with diverse personalities visitors. We plan and execute our events, are popular because of their attractive presentation, trendy products and quality at and professional backgrounds. Is there campaigns and social responsibility projects low prices. Plus these new entrants are always willing to change and adapt to new something that unites you all? in line with the needs and expectations of consumer demands, or simply to make shopping more fun. Flying Tiger has been a We are passionate, result-oriented and our local communities. The high percen- fixture in the shopping centre and Antwerp since its arrival in Stadsfeestzaal in 2015. very much team players. We give our best tage of young people in Turkey, together Just recently, they reconfigured their store in the central square, improving circulation to what we do and are not deterred by with increasing purchasing power and in and around the store and the overall shopping experience. adversity. Actually, the challenges and diversifying consumption habits, will drive crises we face give us the opportunity to the Turkish retail business in the future. Manfield grow and bring us together even more Stadsfeestzaal’s efforts to appeal to a broad target audience were rewarded earlier this closely. It is this positive 'we can do this Macroeconomic factors, like today’s year with opening of a new Manfield shoe store. Manfield is a strong brand in the together' attitude that unites us all. currency situation, are often framed in & Dutch shoe sector, with collections that offer style and quality and shoes that can be a negative way. Are we conditioned to Q A worn both for business and casual occasions. Will you actively interact with your see big picture items as threats, when counterparts across Europe? we should be seeing the opportunities Plenty F & B Yes, of course. I’m a firm believer in the that lay within? Hubert Stech Although food and beverage outlets are no longer the focal point of the central value of sharing best practices and creating That is exactly how we think: we view Managing Director Multi square, Stadsfeestzaal still has plenty to offer on this front. The Delhaize store on Forum Ankara synergies across borders. After all, we are crises as potential opportunities and the lower ground floor has undergone a metamorphosis, upgrading its food range What is your connection with Multi’s part of a strong network in a global world, explore creative and outside-the-box ways Germany and increasing its floor space to more than 2,800 sq.m. Also new leasing space of business and what do you bring to your all aiming to achieve similar objectives. to handle difficult situations. Our goal is to 90 sq.m has been created through the reconfiguration. Delhaize boasts an extensive new position? emerge from the storm even stronger. Highlights 2018 wine department and a fresh bakery, and the launch of the Foodmaker – offering with I think the dynamics ell, I have over 19 years’ experience How would you describe Multi’s The most important milestone of the retailers to look for short-term leases. fresh, organic meals - has definitely boosted the store’s lunch options. Wider aisles in leasing, asset management and Turkish portfolio? Which direction is Multi Turkey past 12 months certainly inclu-ded It will make it even more necessary also make shopping more pleasant. This is why Delhaize remains a key anchor that shopping centre management, We are Turkey’s largest retail platform, of the retail and W heading in and how will you realise the continued successful sell-off of to transform small to medium-sized provides Stadsfeestzaal with a healthy and guaranteed footfall. acquisition, development and redevelop- with 925,000 sq.m of GLA, over 2,100 continued growth? the Kingfisher Portfolio (Blackstone) shopping centres into effective con- shopping centre business ment. On the Multi front, at the start of my tenants, and we welcome 160 million We’ll do our best to make our success after we had implemented a venience centres with a real focus The top of the central square boasts a splendid gallery restaurant that provides an career as a developer. I was actively involved visitors annually. Our 14 shopping centres sustainable and keep on investing in our outstanding view of the entire space. The central square also has 10 kiosks, most of number of asset management ini- on daily shopping needs. This will run in my veins in the development process of three assets are spread out across the country in 12 existing assets. This is a country that still which offer a range of food and beverage options. These include a chocolatier, Juice require good discount-oriented re- currently in Multi Turkey’s portfolio. I different cities. I can confidently say that has enormous potential and Multi Turkey, tiatives. We also participated in a Bar, Cupcakes Bar, Doughnut Bar and Frozen Yoghurt Bar. Near the Hopland entrance, tailers that can offer quality at low think that constitutes a prior bond with with the support of HQ Amsterdam, has number of pitches to win centre customers will find Délifrance (sandwiches), a highly popular spot for local students the company. And before joining Multi, I We are not deterred the right people and the right projects to management mandates. We won two prices. Grocery-anchored or conve- and business people. And finally, on the lower ground floor, Stadsfeestzaal boasts a was the CEO of ECE Turkey, so I think the march confidently ahead. of these and we are now responsi- nience shopping centres are the least sushi bar and a supermarket with take-out option. dynamics of the retail and shopping centre by adversity ble for centre and property manage- vulnerable to online shopping. business run in my veins. we bring together our global expertise with ment, leasing and marketing for our ability to understand and respond to the Welfenhof shopping centre in Objectives 2019 How would you describe your role local needs and expectations. We really do Braunschweig and the Darmstädter Multi Germany is looking forward to in a nutshell? think globally and act locally. Hof Centrum in Heidelberg. We suc- the takeover and implementation of I am here to lead and inspire our team cessfully took over the management the new CM mandate in Heidelberg. in Turkey, especially as we are going Which are the key common factors of Welfenhof in Braunschweig on We will also be focusing on taking through challenging economic times and that make these projects attractive 1 October of this year. part in additional pitches for CM facing numerous uncertainties. I firmly places for people? mandates and increasing Multi's believe that you can overcome challenges And what are the key factors that drive Trends 2019 and beyond income by extending the CM man- with hard work, dedication and strong retail in Turkey? We expect e-commerce to continue dates we do win. We have Multi’s leadership. My role as the leader of Multi By offering shopping, cinemas, enter- to have a negative impact on bricks HQ’s full backing, we have the Turkey is to provide vision and engage all tainment, social events, food and beverage and mortar retail, which will only expertise and we have the teams in our colleagues through a strengthened and other experiences in a single place, we reinforce the current tendency among place. I’m feeling very optimistic. sense of pride and ownership. enrich the social and cultural lives of the Edition 2018/2019 | 14 Edition 2018/2019 | 15

INTERVIEW Q&A

Françoise Dechesne Managing Director The Netherlands & Belgium

Highlights 2018 The first highlight is that of Multi’s retail stores, and not just in prime Dutch team making solid progress locations, but also in secondary cen- on our city centre project Forum tres. I think we’ll also see the impact Rotterdam. Although there’s still a of on-line consuming continue to in- lot of work to do, we are fully focused crease. This means retail shops will on finishing this major project by need to adapt even more to the idea IKEA opens mini-stores at mid-2019. Secondly, I like to men- of creating unique and special shop- tion the numerous re-shuffling and ping experiences. In the year ahead, This is a very Valecenter and Forum Palermo: redevelopment activities that have I’m looking forward to seeing which added value to our portfolio. These international retailers make their 'It’s a new format' include our projects in Assen and entry in the Dutch and Belgian mar- Dordrecht, but also a number of im- kets. Uniqlo opened its new store in interesting time IKEA has unveiled a new mini format The new mini stores are part of IKEA’s portant new leases in Stadsfeestzaal Amsterdam this September and we for shopping centres and in August response to changes in mobility and in in Belgium. Last but not least, one would love to find some space for of this year Multi’s Valecenter in the expectations and shopping beha- of the milestones this year was sign- them next year in Rotterdam. Marcon-Venice and Forum Palermo viour of a new generation of consumers. ing our first third-party management to be in retail in Sicily were the first to welcome To stay ahead of the game and not mandate for Multi in the Nether- Objectives 2019 the new IKEA Progetta & Arreda fall foul of the burgeoning world of lands. We are targeting new asset and prop- (Design & Furnish) format in Italy. online shopping, the brand is focusing erty management mandates, so we on customisation and services. The Trends 2019 and beyond can extend our portfolio. Other tar- insights with us, because we see store that seamlessly blends digital n their quest for new ideas, IKEA concept also serves as a way to test the Food & Beverage will be the name of gets include the start of construc- ourselves as a learning organisation. and physical. You won’t find a single has developed a concept that is market in the catchment area. the game for the foreseeable future. tion on the extension of our asset Of course, these events also serve shoe in the store, only screens and I completely different from the The number of F&B providers will in Arnhem and, of course, the as community meet-ups. When you an extremely sophisticated logistics company’s gigantic blue stores, where Innovation through service only increase and they will be the successful delivery of our project in work within a pan-European platform, system that delivers the shoes you customers can lose themselves for IKEA Progetta & Arreda is part of crowd-pleasing alternative to former Rotterdam. you should benefit from the fact that want on the spot. So the whole hours. The unit in Valecenter is 25 sq.m the company’s experimentation you have colleagues in 14 different retail world is changing and as the and the one in Forum Palermo is 50 with new commercial formats that countries. That is very motivational representative of landlords, and as a sq.m, just enough for a small product integrate physical and virtual channels. and it helps to unleash the full partner to retailers and customers, display area. The shops still have the "We hope that customers will love Multi COO Rüdiger Dany reveals why the operational reorganisation is the key to potential of our employees, which typical IKEA Scandinavian look and this new format, because they will Value-add strategies Multi’s success and why he is confident about the future of retail. obviously benefits both the company As a retail service feel, with minimalist design and lots determine just how successful it is," itself and our clients. of light wood. Customers can book says Paglia. IKEA is currently planning platform, we need to an appointment at IKEA Progetta & more mini-stores in Italy, and is Transformation and relocation in León How do you look back on your as a truly relevant service provider. If Which markets are the be a driver of Arreda stores, and then sit down with working on a range of solutions all over Espacio León, the first Multi shopping centre in Spain, opened its doors in 2004 first year at Multi? What has been you look at the performance of the most challenging at the moment? IKEA specialists to pick products or the world with the aim to getting closer and has since become a favourite shopping destination for the broader region. achieved on the operational front? portfolio we are managing, then our We work in very close partnership with the change in retail design their ideal office, kitchen or to its customers. To secure its leading position for the years ahead, in 2016 the management team irstly, we have reorganised KPI’s are generally above the market tenants and investors, and we want to living room. The products are then kicked off a commercial renewal process to enhance the centre’s retail mix, including our operational team by imple- average and investors appreciate the be a valuable partner for the longer we need to be a driver of that change. delivered directly to their homes or can It may be a small shop, a relocation and right-sizing programme for existing tenants. This was followed by a F menting a matrix structure quality that Multi is able to deliver. term. This is a strategy that will pay off And that actually adds the spice to be collected at nearby Pick-Up Points. but it’s a big asset to transformation project that was completed in July of this year. The most significant within our operations right across all in the long run, as you can see in those what we do. This is a very interesting changes include improved functionality thanks to the addition of new escalators, a the countries we are active in. And How do so many nationalities and European markets that are currently time to be in retail, and it’s great fun Alessandro Paglia, Property Manager the shopping centres redesign of the food court and modernised rest rooms and lounge areas. The team new procedures and standards have cultures work together under stress. Everybody is well aware to be involved in the current wave of IKEA Italy explains: "We want to put also repositioned the centre by creating a new brand identity and logo. improved inter-office cooperation. across the 14 countries in which of what is going on in Turkey right industry innovation. the company in contact with people The mini-IKEA's in Valecenter and Secondly, we have set up an asset Multi is active? now, with the currency and the fact who live too far away from our stores. Forum Palermo have already proven management department that works Communication is at the top that there is a lot of pressure on What would you like to see happen Indeed, the idea at the heart of IKEA themselves as meeting points for very closely with our operational of our priority list and effective retailers. We are showing respect and in retail real estate during the Progetta & Arreda is to make IKEA interior ideas and inspiration - but people. We are committed to serving communication helps us to leverage we are trying to find the best solutions next few years? even more accessible to the majority of sadly will not be serving IKEA’s famous every asset with the same dedication; the specific professional knowledge to ease the pain on a case-by-case I think we would all benefit from a people." meatballs. When asked about the there is no difference between we have within the company. We basis with each retailer. They are stable economic and political envi- response of consumers, Alessandro shopping centres we manage for have added a very strong operational having a hard time, not because their ronment in the countries we work in. Paglia says: "It’s a new proposition for team at our Amsterdam headquarters: concept is wrong but because of the In the UK, we are already feeling the customers, so it’s too early to say any- We are committed to serving Scott Abbey, as the Director Leasing, economic climate. We are thankful for downside of Brexit in the retail market, thing definite, but we are satisfied who has extensive experience on the understanding and support we are so on the whole I’d just like to see some with their feedback in the first few every asset with the same both the landlord and the retailer getting from the investor side, which calmer waters, and a better climate for months." Federico Cimbelli, Head of dedication side; Raoul Thomassen as Director helps us to protect their value, also in growth. I strongly believe that retail Mall Management Multi Italy is also Operations, who brings a great deal difficult markets. Thankfully, we have still has lots of potential for growth. confident: "It may be a small shop but institutional investors and those on of know-how, especially on the daily a very strong portfolio in Turkey, with And it’s not about online or offline; it’s a big asset to the shopping centres. our balance sheet. Every asset has a operations of shopping centres; mostly dominating shopping centres it’s more about offering the right retail This gives us an opportunity to add a dedicated core team. We look very plus Joao Xavier has moved from a in top locations that are appreciated and exciting retail. Retail has been great brand name to our marketing and thoroughly at where we can improve senior position at Multi Turkey to by tenants. Footfall and turnover are constantly reinventing itself for the that attracts potential retailers and the that asset, where we want to be in become Director Marketing. They both still growing so far. last hundred years, so I’m not remotely public." the next years five years and what give clear direction and have helped worried about the future. One of our steps we need to take to get there. introduce a communications process How has data analytics and digital recent achievements is the opening of In quarterly reviews from the board at every level of the organisation right transformation impacted your role? a 62.000 sq.m GLA shopping centre in down to the centre managers, Multi is across Europe. We have also made it Of course, this has a major impact the heart of Gdańsk, which attracted fully focused on value creation within easier for managers to spend time on our operations. After all, it started more than one million visitors in less the asset. You can see the first results communicating with their peers at with the customers who became than three weeks. This proves that if you look at our LFC NRI growth in periodic intercompany meetings for digital users. They shop both online bricks and mortar shopping centres the first half of this year. Secondly, we all heads of marketing. We provide and offline and this behaviour is being definitely have a future and are still have been able to grow our business training and share best practices, mirrored by retailers who are adapting loved by customers. If you have the by acquiring the management of new right location and offer a fully-fledged top assets. For example, beginning this These days, retailers don’t just value retail experience, I think this is still year we took over the management of an extremely positive business model, Allee Center in Budapest after a very the physical. They also look at whether it will as long as it’s in a positive business competitive pitch. This is a top-class environment and actively managed. asset in downtown Budapest owned benefit their online business by Allianz. At the end of this year, and give all leasing managers the to a different, dual world. These days, Multi will also manage ‘Darmstädter chance to discuss market trends and retailers don’t just value a location Hof’ in Heidelberg and ‘Welfenhof’ in how we can support our tenants. We for the location itself. They also look Braunschweig for Allianz. In Portugal, are now planning a big event for all at whether it will benefit their online Multi will continue to manage Almada centre managers of the 110 assets we business. We now have Click & Forum in Lisbon for the new owner manage. We invite external speakers, Collect and stores are becoming more Merlin. It shows that there is also a such as the expansion managers of digital inside. A great example is the growing market awareness of Multi international brands, to share their Polish Eobuwie, a new concept shoe Edition 2018/2019 | 16 Edition 2018/2019 | 17

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New retail powerhouse Forum Gdańsk records In a nutshell • 62,000 sq.m GLA of retail, a multiscreen five million visitors ... and still counting Helios cinema, leisure, restaurants • 1,100 parking spaces • Boutique hotel • Multifunctional Gdańsk Heritage Centre • New transport hub for buses, trams, trains and cars, including a railroad tunnel platform and tram power station • Bike and pedestrian paths • Restoration of the Radunia Canal • New energy station for Energa • The total investment, including road infrastructure development, was approximately € 194 million. Developer: Multi Poland in cooperation Forum Gdańsk provides a modern urban with the Gdańsk municipal authorities I am confident that the residents of destination for the 1.3 million inhabitants and PKP Polish Railways. Gdańsk and across the region, as well in its immediate catchment area (the Tri- Concept: "as the millions of tourists who visit the City area Gdańsk, Sopot and Gdynia) plus TTDesign; Architecture: SUD the 2.5 million tourists who visit Gdańsk city, will simply enjoy spending time Architectes; Technical infrastructure: every year. there. BPBK The VIP opening of Forum Gdańsk took Heritage Centre: place one week after the public opening, on Paweł Adamowicz, Studio Architektoniczne Kwadrat Mayor" of the City of Gdańsk 6 June, and the building was inaugurated by a representative of the Bishopric of Gdańsk. This was followed by an after party and the unveiling of the striking lion’s Stradivarius. The LPP group is represented head sculpture (the rampant lion is one of by CROPP, HOUSE, Mohito, Reserved and Forum Gdańsk was one of the most the symbols of Gdańsk), plus an open-air Sinsay. The city’s largest cinema, Helios, challenging projects Multi has been concert for the invitees and the inhabitants and the wide variety of restaurants and "involved in. But now it is reality. A spot of Gdańsk. Forum Gdańsk may have been cafés will provide a welcome boost to the like this in the city needs a project that one of the most complex and challenging city’s nightlife. is really captivating. projects ever for the companies involved, but the enthusiasm of the people gathered Design and landscaping Josip Kardun, for the VIP opening was living proof that Forum Gdańsk is a masterpiece of design, CEO Multi Corporation" the city and its people had embraced this engineering and water management. The new urban hotspot. The bustling centre architectural design is in harmony with the will also host cultural and artistic events. buildings of the main town on the eastern side and with the adjoining cityscape on The retail experience the west side. The development preserved Multi has succeeded to line up a diverse historic buildings, including a monastery, tenant mix that includes well-known Polish a post office and a library with a park. and international brands, plus a number As a contrast, the centre includes modern, of new global brands, such as &Other multi-functional designs with large-format Stories, with their second store in Poland, glass covered areas that blend in with together with Jubirex and Okaidi; new natural environmental features such as the entrants in Gdańsk, such as JOOP!, Liu Jo, Radunia Canal. It boasts over two hectares Twin Set, COS, MAC, Made in G, Magnific of green areas, with over 33,000 plants Boutique, New Look, Paris Optique, VAN from 80 species, and mature trees offering GRAAF, Max Mara by Weekend and Miss a pleasant interplay between architecture Etam. Other top brands include H&M, and nature. It has been carefully designed New Yorker, Piotr i Paweł, TK Maxx, Apia, and is continuously cared for. The aim City Sport, Deichmann, Diverse, Douglas, was to create a unique ecosystem in the Gino Rossi, Homla, Le Coq Sportif, city centre that, it is hoped, will attract MANGO, Marc O’Polo, Pandora, Pierre butterflies and songbirds. Cardin, Rossmann, Solar, Super-Pharm, SWISS, Triumph, W.Kruk, Wólczanka, Home&You, Zara, Zara Home, Bershka, Massimo Dutti, Oysho, Pull & Bear, and Two hectares of landscaped areas create a green ecosystem in the city

2018 Finalist

We have done everything to make our visitors feel particularly comfortable and "welcome. Public space has shaped the commercial space here, not the reverse. Winner Retail Investment It is a dream job for a centre director of the Year from Gdańsk to look after most exciting shopping centre in Europe.

Magdalena Gibney, Centre manager Forum Gdańsk" Edition 2018/2019 | 18 Edition 2018/2019 | 19

Our Retail Destinations in Europe and Turkey Edition 2018/2019 | 20 Edition 2018/2019 | 21

INTERVIEW INTERVIEW Q&A St. Enoch Centre Dominic Deeney poised for Managing Director Multi major UK and Ireland redevelopment Enoch Centre in Glasgow is poised Highlights 2018 tt o embark on the next phase of We received shareholder approval Retailers in both countries are still S its multi-million pound redevelop- for the revised plans for the exten- grappling with the development of ment, with work set to start on a new sion to Blanchardstown Centre, in multi-channel routes to the market, leisure and entertainment section. The Dublin, Ireland. This three-phase as they deal with competition from redevelopment will add a 2,700-sq.m nine- project will add 7,800 sq.m of retail the burgeoning e-commerce sec- screen VUE cinema and nine restaurants No shoes but and F&B space to the centre. A large tor. Bricks and mortar remains the at the east end of the centre. This is the part of this has already been pre-let favoured route, but online sales are second phase of the redevelopment and to retailers and we are seeing a lot of continuing to grow as consumers follows the £1.5-million refurbishment of interest from F&B operators. In the demand easy access and buying op- the centre’s food court last year to create tablets UK, we have also received sharehol- tions. F&B operators are also becom- the Atrium. ders approval for the addition of a lei- ing increasingly cautious, following sure and entertainment extension to their rapid expansion in recent years. St. Enoch’s Atrium is the biggest in Scotland St. Enoch in Glasgow. This includes and attracts over three million visitors Online footwear giant a nine-screen cinema, eight restau- Objectives 2019 annually. The food court is home to a rants and over 3,000 sq.m of retail Our focus in 2019 will be on leasing variety of dining options, including Italian Eobuwie.pl unveils space. The project started in Septem- new and existing retail and F&B units and Asian cuisine, as well as authentic ber and it’s scheduled for completion at St Enoch and Blanchardstown, get- Greek food from the recently opened Mr Nick’s Greek Kitchen. The redevelop- sector-defining in 2019. ting both centres back to 100% occu- ment of The Atrium saw the food court’s pancy. And of course we’ll be working sales increase by over 10%. The investment stationary store Trends 2019 and beyond on the redevelopment projects. We’d in the centre has also helped attract a host Retailers both in the UK and Ireland like to see some of the redevelop- of leading brands, including Swarovski, continue to be cautious about taking ment at Blanchardstown finished in Starbucks, Schuh Kids and Yankee Store new space. In the UK, retailers are ob- time for the Christmas period. We’ll and the centre has continued to maintain viously worried about the potential also be talking to tenants about stay- footfall levels throughout 2018. In less than two decades, the CCC Group has built up an impressive track CCC physical stores upgraded We bring our own customers impact of a hard Brexit, while many ing in the centres during the redevel- Irish retailers are looking to ’right- opment and extension work, given record as the largest footwear retailer in Central Europe and the biggest "Of course digital is at the centre of our Michał Biegaj oversees the CCC retail The planned new leisure facilities will be a customers’ decision-making process," Biegaj property - some 1,000 stores - across size’ their real estate. This does some- our commitment to the centre and major boost to St. Enoch Centre’s offering footwear manufacturer in Europe. CCC shook up the sector this year with says. "So we have to deliver that. In the Europe. His years at CCC and the time times involve exiting legacy leases the surrounding area. We see it as in the heart of Glasgow city centre. The the physical debut of their e-commerce footwear platform eobuwie.pl meantime, our traditional footwear chain he spent at Ikea, DTZ and Inditex have and upsizing in dominant shopping ‘short term pain for long term gain.’ new development will be accessible from (literally e-footwear). Building on eobuwie.pl‘s online dominance, this new CCC is still flourishing." The newest CCC given him a flawless instinct for the right centres like Blanchardstown. We think they will too. renewed entrances on Dunlop Street and concept seamlessly blends digital and physical for an exciting, easy-to-shop stores measure 1,000-1,300 sq.m and location. Biegaj: "I have visited thousands Osborne Street, which will strengthen of shopping centres, so I get an immediate the link into Argyle Street and improve alternative to traditional shoes stores. Michal Biegaj, Head of Global have eye-catching contemporary interior

with sections for women, men, children sense of whether a shopping centre is NEWS the overall pedestrian experience in Expansion at CCC, talks about the group’s footwear empire and explains and sports. CCC is planning to gradually working well. When I walk into a good the area. St. Enoch is still waiting for their vision of modern retail. renovate its older stores. shopping centre, I can feel the energy. If planning permission for the Argyle Street Why do customers remain faithful to these it’s not good, I immediately feel depressed. redevelopment, which includes high street traditional stores? Michał Biegaj says: "It’s "For us, the best location is not always the retail units facing onto Argyle Street. The CC acquired close to 75% of the shares The space is divided in three sections. At typical for our product: it is mass market most luxurious; the most important thing development will provide 1,920 sq.m of in eobuwie.pl back in 2016. Buying the front is the quick shopping zone, where in price but aspirational in style. Because is that our customers can find us. We can do retail space at ground level of, with an the Polish market leader in online shoppers use interactive touchscreen C we are a vertically integrated company – we very good business in the average shopping additional 1,720 sq.m on the first floor and footwear sales marked a major expansion tablets to search for and order items. The control the entire process from production The CCC footwear company centre category. If there is enough traffic 428 sq.m on the second floor. Planning in Poland and gave CCC customers access middle section offers comfortable sofas, to retail - we can develop commercial was founded in 1999 by Dariusz we see potential and at the same time we permission has been delayed pending to online channels. "For us, Eobuwie was a where customers can sit back and order collections at affordable prices. We offer a Milek. Today, it has grown into an generate our own traffic because we bring justification for the planned demolition. logical step to expand our online business," shoes to try on. Once they confirm their great variety of fashionable shoes for the empire with close to 1,200 stores, our own customers." The work is being undertaken by Sovereign says Michał Biegaj. "We wanted to make selection, a semi-automated system carries whole family. Our private label collections including over 450 in Poland alone Michał Biegaj believes the essence of the Upside down in Land and Multi is monitoring the works on a big impact in one fell swoop. Instead the shoebox from the visible warehouse are remarkably extensive, competitive and a wider footprint spanning business is forging long-term relationships behalf of Blackstone of setting up a business from scratch, we down to the customer in up to three on price, product, and craftsmanship. In Europe and Russia. The company with landlords, franchisees and business choose to take over the existing platform minutes. This warehouse is the third and addition, we add branded shoes every recently signed a franchise deal partners: "I believe we contribute to the Alfa shopping centre in Riga and make use of their online market largest section of the store and boasts season, within the price range that cus- with Apparel Group for an initial success of a shopping centre because our expertise. Eobuwie.pl is like a quasi- a huge stockpile of shoeboxes. And the The extension and refurbishment of turned all the materials right side up and tomers expect from us. All of this makes 60 stores in six Gulf countries. CCC shops have tremendous pulling power. We start-up; it’s already well developed, but conveyor belt shoebox train provides a nice Alfa shopping centre started in October launched a free lottery, giving visitors us a highly popular brand for people who controls private label production really sell shoes like bread." they come up with new ideas every day bit of entertainment for customers. 2017 and is scheduled for completion the chance to win EUR 300, to be spent believe in 'smart shopping', which means and they’re constantly improving their facilities on several continents. The in mid-2019. To make sure the centre in one of the Alfa stores, a very happy they look for high-value items with a good software." Eobuwie.pl is the largest online Bonding with the brand company went public in 2004. continued to attract shoppers during ‘sudden turn’ for some lucky shoppers . value for money balance." shoe store in Poland and the opening The new concept has been successful, the redevelopment, Alfa launched of physical stores is the next step in the with queues at the digital terminals at the ‘sudden turn’ campaign. For the The summer campaign included a few development of a company that is already busy times. The new format does require a We sell shoes like bread first three days of the campaign, all other activities, including a rooftop has its footprint in more than a dozen large retail surface. "Our shop in Magnolia advertising materials were turned outdoor film show that had 6,000 people countries in Europe. Eobuwie recently Park in Wroclaw measures 1,700-sq.m – a upside down. This created a real buzz competing for just 400 seats. In another launched a new omnichannel sales strategy 300-sq.m sales area and the remainder for in the city: eyewitnesses shared photos, sudden turn, Alfa visitors parking their on the Polish market, by opening its first storage of some 100,000 pairs of shoes from commenting that something was car on 4th floor were surprised with free ever physical stores that combine online nearly 500 brands." Michał Biegaj explains ‘wrong’. It was even breaking news on the coffee, ice cream, or a car wash. and in-store sales. The first store was that besides reinforcing the eobuwie. local TV station. After three days, Alfa opened in the autumn of 2017 in Zielona pl brand image, the store is valuable in a Gora in western Poland, quickly followed number of ways. "It provides an emotional by a second in Multi’s Magnolia Park in brand experience for our customers and a Wroclaw this February, then Posnania source of inspiration for trends in fashion. in Poznan and Cuprum Arena in Lubin. And it lowers the threshold for people who Eobuwie has plans for another five more want to try online shopping. We see it as an stores in Poland this year, expanding its innovation lab and a way to discover what network to nine in a single year. The conveyor belt Omnichannel shoe theatre shoebox train provides a Eobuwie’s hybrid store combines the eobuwie.pl e-commerce platform with a nice bit of entertainment traditional store. Well, perhaps traditional is the wrong word. The store has no our customers want and how to respond product on the shop floor, and instead to their changing needs." In Poland has multimedia screens with rolling Eobuwie sees room for one physical store content of promotions and bestsellers. in the larger cities. At the current stage of These digital displays replace traditional development they are not planning any visual merchandising, delivering a sleek, foreign expansion for the physical store minimalist store environment. chain right now. 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I nTERVIEW Let us entertain you Allee shopping centre goes eco-friendly in Budapest Multi manages more than 110 shopping centres across Europe, with more Fear of disruption Allee Center’s spring campaign was a huge than 400 million customer visits per year. Our shopping centre marketing success, offering visitors a whole range teams are locally based and know the regional culture. Their marketing of eco-friendly alternatives, from fashion strategies are aimed at improving brand awareness, community relations to DIY . The major attractions this year as catalyst were the ‘environmentally conscious’ and sales & footfall activation. Their campaigns make the customer expe- fashion shows. More than 3,000 visitors rience more dynamic, encouraging visitors to stay longer and return for fu- participated in a prize-winning fashion ture visits. The campaigns are often original and inspiring and provide great game, with a total online reach of more for positive energy opportunities to build relationships with communities and customers. than 1.8 million users. Allee also offered other exciting eco-conscious activities, such as workshops, exhibitions, a bike-powered On this page, we give you a sample of this years’ most remarkable, funny or smoothie maker and a demo room for green Multi News talked to Bill Kistler, Vice President and Managing Director of impactful events from across our centres and smart home solutions. the International Council of Shopping Centers (ICSC) for the Europe, Africa and Middle East region since June 2016. He is a member of the leadership team and provides strategic counsel and input on global matters to support the organisation’s global footprint. Forum Gdańsk supports Angolan Lions Forum Ankara hosts ‘One Doll One Wish'

Forum Gdańsk and Gdańsk Zoo signed As part of its cooperation with Keçiören an agreement making the shopping Municipality, Forum Ankara Outlet hosted ill Kistler has quite a task ahead of explains that Multi CEO Josip Kardun, who Retail Innovation Forum centre the official sponsor of the Angolan the ‘One Doll One Wish’ project in June About Bill Kistler him given that the retail property just that morning had stepped down from What new insights has the conference lions living in the zoo. These lions have and July of this year. Forum Ankara Outlet industry is faced with constant his post as Chair of the ICSC European delivered so far? Kistler says he was intri- Bill Kistler has more than 30 years of been a prominent symbol of Gdańsk for presented 300 needy children staying in B global real estate experience. He most disruption and the challenges and Board, leaves behind a strong foundation gued by several sessions and mentions many years and now they will also be one state-owned nursing homes in Ankara opportunities have never been bigger. to better adapt ICSC to the European Ken Hughes. In his keynote ‘Positive recently served as managing partner at of the main symbols of Forum Gdańsk. with special handmade toy dolls produced ICSC is in a unique position. Despite market. He orchestrated the various steps Disruption’, Hughes argued that techno- Kistler & Company and held senior roles The sponsorship includes funds for the in Forum Ankara Outlet in cooperation the fact that the modern retail world is the organisation has taken to get there and logy is the biggest enabler for disruption at JMB Properties in Chicago, Cushman & monthly purchase of vitamin supplements, with the municipality’s handcrafts unit going through some pretty turbulent led the cultural change that was required. but that it is not just disruptive in Wakefield in New York, IBM in Paris and additional treats or special toys for these (KEÇMEK), together with beautiful wishes times, ICSC continues to sustain and Kardun is described as ‘a consummate itself. Consumers are the real drivers of New York and the Val d ’Europe shopping noble animals. written by our visitors. build its membership base with some disruptor’ in a very positive sense. "It’s disruption. He believes it is their attitude centre for Disney Development Company 70,000 members globally, and national a challenging time for everyone in the and loyalty that will decide whether your in Paris. President of ULI EMEA 2004-2010. councils covering domestic trends and industry. I think you have to be innovative business will still be around in a couple of developments. and straightforward in adapting to those years. So unless you keep an eye on those Bill Kistler uses an old American meta- challenges. Josip Kardun understands how customers and find ways to add value for phor for his answer when he explains to implement a culture change, as he has them, your business will become irrelevant Slovak Folk and Fashion in Forum Poprad St. Enoch builds world’s longest LEGO brick bridge the role of ICSC: "Especially in times done so well at Multi. I see Multi as a truly pretty quickly. Being ready to move and of disruption, you need ‘to circle the European company no matter where its ready to change is what keeps businesses In the spring of this year, Forum Poprad A world-record bridge comprised of over wagons'." He continues: "The industry is roots lie." going. Bill Kistler adds: "There has been organised an exhibition and events 200,000 individual LEGO bricks and facing significant demographic, social and a shift in human behaviour that we could focused on Slovak tradition and fashion weighing three quarters of a tonne has economic changes. Dealing with this Purpose as wider context of shopping not have predicted 10 years ago. The holy for their customers. Forum Poprad wanted arrived in St. Enoch Centre just in time for together makes us stronger, both as centres grail today is to get to know our customers to show its customers what fashion the summer. The bridge has been brought companies and as individuals. More than Kistler explains the much broader role better, through data capture and analytics, An industry that looked like in the past through a special to the city by the Institution of Civil ever before, people need to exchange that shopping centres play in society. "The so we can understand their behaviour. exhibition of traditional clothes, together Engineers (ICE) to mark the Institution’s ideas and share their successes and even industry is reinventing itself: what is the What we see and hear at this conference has been essentially a with traditional workshops. People were bicentenary and Scotland’s Year of Young failures. Sharing perspectives within our purpose of retail real estate, and what are is only an indicator of where we think it also given the chance to create something People. A series of LEGO themed events international community is meaningful shopping centres? Perhaps because of my might be going. Think voice recognition, transactional, handmade for themselves. will take place over the summer months. because it helps you to understand what background in mixed-use assets, I think think automation of retail, think robocars 'deal-oriented' business, is on your colleagues’ minds and how they the fusion of retail, offices, residential, changing cities and making last-mile are dealing with it. Our conferences are hospitality and leisure creates a more deliveries. Those are the big innovations is becoming much more meeting places with the social quality of a urban vision of shopping centres that are that may not be here yet, but could be club, where you see familiar faces and make integral to the fabric of cities." the next step beyond. So we need to be service-oriented prepared for that." Forum Bornova hosts 10th Puppet Show Contest Forum Viseu hosts special Barbie exhibition Consumers are the real drivers of disruption How would Kistler describe the mood at The Forum Bornova Puppet Show Contest On 13 September, Forum Viseu in Portugal new friends. You can have open discussions Identifying and understanding emerging the conference? "I think you could call it has been instilling the love of art in celebrated its 13th anniversary. To mark with competitors, ‘leaving your weapons at trends has always been a vital element of the a combination of anxiety and excitement. children and working on their creativity this special moment, the shopping centre the door’. Many of the industry’s leading ICSC agenda. The theme running through Some people are nervous because so and artistic skills. The contest is one of hosted a very special exhibition with professionals are very motivated to the conference - is the consumer’s desire much is changing. The people who will the most important traditions of today’s around 150 Barbie dolls, making its first participate in committees, in the Next Gen for a great experience; something they succeed are the ones that are motivated cultural life in İzmir. It is one of the world’s appearance in Portugal. This exhibition programme or in the conference agendas." cannot get from buying online. Visiting a by disruption, that find fear energising. most important puppet projects and was inspired by fashion and cinema and Through the years Multi has been an shopping centre should fulfil a desire for Frankly, I’ve always been excited by change admired in puppetry circles around the recreated some of the best known cinema active participant both at events and in exceptional service in a truly attractive and that is what enables me to deal with globe. This year’s event, part of the 12th icons and showed clothes created by some committees and working groups. environment that offers a broad mix of disruption, because it is motivating. Change İzmir International Puppet Days, included of the world’s leading fashion designers. shopping, gastronomy, health, services is the path to relevance." 332 talented, who staged Hans Christian Servants to a cause and community functions. Kistler sees the Andersen’s ‘The Little Mermaid’. Our conversation takes place in current food & beverage trend as a part of Amsterdam during the Retail Innovation this bigger trend. "Consumers are tired of Forum (26-27 September). The conference the archaic, predictable and boring food covers marketing, strategy & trends and courts in shopping centres. F&B is now innovation. The forum is the result of becoming an integral part of creating great a merger of what were previously two places, with inside and outside seating Safari Live at Forum Viseu Forum Lviv joins Lviv City Day separate meetings. Kistler: "This conso- areas, landscaping and places for people to Forum Lviv has joined the official Lviv lidation enhances the value of the event meet." These trends have impacted the role Under the motto ‘No binoculars needed to City Day celebration programme. In line because we can offer better content of the asset manager. Kistler has noticed a see the jungle animals up close’, in March with the Ukrainian city’s drive to raise and speakers. It is also in line with our change in the talent profile in the retail and April Forum Viseu in Portugal hosted community awareness among its citizens strategy to facilitate synergies between the asset management industry. An industry a unique exhibition with life-size replicas and improve its neighbourhoods, Forum various disciplines and gives delegates the that has been essentially a transactional, of numerous wild animals. The exhibition Lviv offered a range of fun family activities. opportunity to meet more people. I see it ‘deal-oriented’ business is becoming much included several activities, such as Together with professional artists, the as our mission to be thought leaders and more service-oriented. Kistler: "You have workshops, interactive games and a photo centre’s young visitors painted Forum provide the broader perspective of what is to work extra hard to keep your clients spot where everyone could take pictures Lviv-branded squirrel feeders, which were going on across the globe in our industry." happy, treating them as if they were guests with a baby elephant. During the campaign subsequently placed in the city’s parks. This is just one of the changes at ICSC in in your hotel." Source: Ken Hughes. period, footfall and sales increased by 13% what is seen as a period of transition. Kistler Keep an eye on your customers and 18% respectively. Edition 2018/2019 | 24 Edition 2018/2019 | 25

INTERVIEW INTERVIEW

Selection of projects in development or under construction Forum Rotterdam, the Netherlands 64,000 sq.m; new retail, offices and residential; opening scheduled for Q3 2019.

Alfa Riga shopping centre in Latvia 70,000 sq.m; will be extended with an additional 20,000 sq.m of retail. Under Blanchardstown, Dublin, Ireland construction, opening scheduled for summer 2019.

Marmara Forum, Istanbul, Turkey Marmara Forum, Istanbul, Turkey 135,000 sq.m; retail and leisure will be refurbished and extended. Open heart surgery in a Forum Istanbul, Turkey living and 176,000 sq.m; retail and leisure will be Vision on breathing organism refurbished and extended.

Blanchardstown, Dublin, Ireland 112,000 sq.m; retail extension and redevelopment refurbishment. "There’s an art to accommodating new developments within the confines St. Enoch, Glasgow, UK of a rigid building. Our challenge is to make sure those old buildings survive 80,000 sq.m; refurbishment phase II. and move with every wave." CIO and CDO Patrick van Dooyeweert explains the large-scale investments and expansions planned for Dublin and Istanbul. Forum Rotterdam, the Netherlands

ow that he has safely transferred the bigger stores. These dynamics are pretty "There are very few companies with such to work fast, because the patient has to be Expansion and quality improvement operational activities in Turkey to common in retail, but there is an art to top class assets in Europe." He believes returned to full health within 24 months. in Dublin N the new CEO Pınar Yalçınkaya being able to accommodate such changes that the self-confidence Multi exudes these The purpose is to ensure that visitors In Dublin, Ireland, the expansion of the Hacaoğlu, Multi CIO and CDO Patrick van within the confines of a rigid building. days is tangible in the market. looking for quality and a pleasant place to mega shopping centre Blanchardstown Dooyeweert can turn his full attention to That automatically leads to redevelopment spend time are once again 100% engaged is next in line. Van Dooyeweert: the capital investments for the renovation and the redistribution of space. There are Open heart surgery in Istanbul following the surgery. "Blanchardstown is a prime shopping and expansion of Multi’s various other trends, of course, such as the need Van Dooyeweert currently has a number of centre in terms of the range available large retail assets. Van Dooyeweert is for more and better food and beverage major projects under his wing. Shareholders A redevelopment plan is also in the works and catchment area, but it needs more responsible for Multi’s ongoing extension concepts, where customers can spend Blackstone and Ares recently approved a for shopping centre Forum Istanbul, character. We want to make a number and development programme. He is more more time. This is already resulting in the redevelopment costing some € 24 million which is in another part of the city. Over of architectural changes that will make than happy to lay out the plentiful reasons transformation of, say, bowling allies or for Marmara Forum in the Bakirköy area € 5 million will be invested in a revamp it look like a prime shopping centre, to continue to innovate and invest in casinos into areas with a range of upscale of Istanbul, a 135,000 sq.m shopping of the restaurant area, with the adjoining too." The investment will be in excess of existing shopping centres, even if they are restaurants. We have no idea what that will centre located in Istanbul’s top catchment terraces upgraded in a second phase. This € 300 million, divided across a number of still relatively young. Only those shopping look like in 10 years’ time. The challenge area. Although it is less than 10 years old, is set to become a green, sophisticated area phases. Dublin will be a key focal point for centres that manage to remain relevant for us is to make sure those old buildings Marmera has to be adapted to the rapidly for people to spend time in. "The plan really Van Dooyeweert. will be winners in the future, he says. survive all those waves and move with the changing market conditions. The food came about as a result of a luxury problem," Van Dooyeweert explains: "Many shopping tides of time." court is set to be completely overhauled says Van Dooyeweert. "The food court is so centres have hidden value that you can and expanded, the main entrance is being popular that people are sometimes forced unleash through redevelopment aimed Ensemble casting relocated and the centre will undergo a to sit on the stairs or on the ground because at constantly adapting your assets to the New development and redevelopment whole host of other changes. The original there’s not enough seating. Istanbul is still everchanging habits and demands of of existing properties has been Multi’s architect, Tabanlioglu Architects, is doing very well as a retail city. There is a lot the consumers. This goes beyond more core activity for 35 years. Today, the focus involved in the project. Of course, this of competition, but the city is also growing structural and visual improvements, to is primarily on optimisation and value will require careful planning and extensive rapidly. Every year, the equivalent of a city include adaptations that enable you to creation in existing assets. Van Dooyeweert consultations with current tenants like Dusseldorf is added to Istanbul, so move with the market. Retailers have to believes that Multi’s development expertise because for them it has to be business the number of new consumers just keeps adapt quickly to market conditions and that is unique and something that really does as usual. Van Dooyeweert has come up growing. Investors believe that Turkey is means so do we. One of the trends we are set it apart from its peers. As is the fact with an excellent description: ‘open heart still worth investing in. And we have to seeing is anchor tenants like MediaMarkt that all its concepts come from the drawing surgery in a living and breathing organism prove that they are right." looking to downsize their stores, while local board of its own design group TT Design. without anaesthesia’. And the doctor has players such as DeFacto and LC Waikiki Van Dooyeweert: "The head office is the in Turkey, are suddenly looking for much centre of excellence and from there we can deploy the right expertise to suit a specific Forum Istanbul, Turkey project from any country in our network. Call it 'ensemble casting' if you like: make sure you cast the right person for the right role in a specific spot." This is exactly what Multi did at the recently opened Forum Gdańsk. The result is way more than the sum of its parts. Van Dooyeweert: "Forum Gdańsk was one of the most complex projects I have ever encountered. We were facing a multi-faceted complexity. Add to that the long preparation time of 10 years, Marmara Forum, Istanbul the multitude of partners, such as local authorities and the railroad company, the sensitivity of the old town centre, the technical skills required to integrate a canal, and you have a major challenge. St. Enoch, Glasgow, UK But then when it all works out, it’s even more satisfying for everyone involved and it creates a leap in value for your project." That complexity is exactly what attracts him to the development business and he is still far from bored with it. "You’re playing in the premier league at Multi," he says. Alfa Riga shopping centre in Latvia Edition 2018/2019 | 26 Edition 2018/2019 | 27

INTERVIEW INTERVIEW Blanchardstown Centre in store for massive renovation and extension

before after

TTDesign define and Espacio León, Spain after redesign retail experiences

Interview with Harry Vroemen, architect/urban designer TT Design

after

before Green Mall new before before Espacio León, Spain after after

Green Mall entrance

Alfa Riga shopping centre in Latvia

What is the role of TT Design? visit to the site for a kick-off meeting and What is one of your signature design Value engineering is ur role is to facilitate all the Multi a briefing on leasing, mall management moves that would tip us off to the fact pushing us to come up teams and our external clients to and asset management aspects. The draft that we’re looking at a space TT has manage and redevelop their assets, scheme design phase focuses on the local designed? Marmara Forum, Istanbul before O A relaxed atmosphere, harmonious with with new creative right through from master plan for the conditions, and we use customer profiling addition of extensions, to the right look & results to come up with the look & feel of at least one intriguing design element. We Red Mall entrance design solutions feel of the interiors. And all of this is driven exterior and interior designs. Together believe that human scale is a vital element by design solutions. with our stakeholders, our client and local in the creation of a warm and intimate after partners, we then take the early design place in our designs. You may not notice What kind of people make up the TT phase to the next level to estimate the costs it immediately. You have to experience Design team? of the project. Then, when we’ve agreed it, and feel how the place makes you feel A professional, experienced group of budgets, we develop the design and play comfortable and puts you at ease. people, all with architectural training and a coaching role in the project until it has with special interest in a number of design been completed and handed over. What is the focus of TTDesign? disciplines. We have two senior architects Of course retail environments have to specialising in urbanism and architecture, How do you balance commercial, respond to trends and innovations in who have been working in the retail real technical and aesthetic aspects? society if they want to stay interesting for estate business for 20 years. Plus we have In redevelopment and refurbishment their customers. The challenge is to adjust four architects and each one of them has projects, the needs of existing and new the stone and glass shopping environment specialised skills in interior design, visuals tenants, the existing situation and the in time to seize the moment in the cycle of and building technology. budget are main factors in the design change and to do it within budget without process. Without tenants, there is no making too much of a statement. We are Can you describe your design process? project. If you fail to meet the budget, living in a time of metamorphosis, as Our design process focuses on the varying there is no project. Value engineering is retail environments are transforming into Since Blackstone’s acquisition of Blanchardstown in 2016, the Dublin interests of customers, tenants and the pushing us to come up with new creative places to be, to meet and enjoy. So if the retail centre has undergone numerous changes and upgrades, but the owner. Functionality in everything, while design solutions time and again. And these architecture or interior design of a shopping centre is now poised for a major renovation and extension designed to the main drivers are the development have to be solutions that still have positive centre makes too much of a statement process, phasing and time. We create impact on the look and feel of the project. and there is no space for new surprises or put Blanchardstown firmly at the forefront of the retail sector in the Irish the basis for the functional design with a coincidences, people quickly find those capital, and beyond. spaces boring and unattractive once they’ve digested the wow effect. Certainly The plans involve three extensions which first and second levels, plus new escalators when they are regular visitors. This does will add 7,800 sq.m to different sides of and new lift shafts. Over 5,000 people not mean that it is not important to have a the centre: are currently working at Blanchardstown well-balanced composition that plays with The Central Mall: four retail units adding Centre and the new plans will see the light and materials to create a beautiful 2,500 sq.m over two levels, with 35% of the creation of some 550 new jobs, partly space. That first pleasing impression needs new space pre-let to JD Sports. Planning for the construction phase and partly for to have more to make it a place that people consent has been secured. permanent positions in the new units. Multi want to return to again and again. For us, The Red Mall: one retail MSU adding Managing Director for the UK and Ireland, shopping areas need to be inviting and 1,800 sq.m that is pre-let to budget Dominic Deeney, says the investments attractive and add something special to the supermarket Aldi. The centre has applied will create the enhanced shopping expe- daily lives of our customers. We believe it for planning permission. rience that today’s customers expect, is essential to create opportunities to meet The Blue Mall: nine F&B units on and will provide a range of unit sizes and society’s changing expectations and ever- two levels, adding a total of 3,500 sq.m configurations currently in demand among changing consumer behaviour. The centre has applied for planning retailers seeking a presence in Ireland’s permission. leading retail location.

The renovation plans include the demo- lition of the large water fountain to make way for a new children’s play area and a bridge to span the current void between the Edition 2018/2019 | 28 Edition 2018/2019 | 29

Continued from page 1 Multi acquires shopping centre management in Braunschweig and Heidelberg for Allianz Real Estate

Darmstädter Hof Centrum Welfenhof Braunschweig Heidelberg Located in the heart of Braunschweig, The Darmstädter Hof Centrum is the the Welfenhof has more than 25 shops largest shopping centre in Heidelberg over a sales space of more than 3,800- and is located in a listed building at the sq.m. Apartments cover more than 6,200 gate to Heidelberg’s renowned old town sq.m and offices cover almost 2,500-sq.m (Altstadt). The site on Bismarckplatz has Alongside Braunschweig’s largest car excellent public transport links as well as park with 1,000 spaces, the centre offers sufficient car parking. The Darmstädter an extensive range of food outlets, from Hof Centrum contains 11 offices, 102 Hopfen Gärtchen to the trendy Rudas At Forum Rotterdam apartments and 25 shops, including Restaurant and bar. It also houses the leading anchor tenants such as Saturn, FourSide Hotel, which opened in 2015 dm, Calzedonia, H&M and Sparkasse with its characteristic interior design. Heidelberg (Bank of Heidelberg). Medical the old is making way practices and language schools such as Berlitz provide the necessary diversity. The attractiveness of the building is enhanced by the town’s swimming pool for the new (City-Bad), which is also housed in the building.

As the contours of the multi-functional Forum Rotterdam emerge, the project is becoming more dynamic than ever. You will not find retail space this modern anywhere else in the city that was voted the ‘best city centre in the Netherlands’. View from Beurstraverse

design and feasibility studies. But once the connecting centre of the project, with you get to the execution stage, you have to entrances on the Bijenkorf side and on the talk to stakeholders in the area and then Binnenwegplein. That will certainly create it is essential to work with a team that is a lot of extra footfall. plugged in locally. After all, every city has its own dynamics and culture. Rotterdam Rotterdam, a city with guts is known as a city of roll up your sleeves Rotterdam is proud of its ranking in and get down to work." You have to be Lonely Planet’s list of 10 must-see cities for able to deal with that and find a way to every tourist and welcomes a steady flow work together that involves respect and of tourists and visitors and the numbers understanding. Multi set up a large project are increasing every year. Spectacular office on location, in the old bank building. architectural projects have given the city "To make sure we could view the projects renewed confidence and OMA’s design for from every possible perspective, we Forum Rotterdam will be another boost to recently added an international colleague that confidence. Francoise Dechesne says

to the local team with experience in a Rotterdam is not a city that is easy to read, NEW LEASES comparable project in Gdańsk. This means but the new developments do help you we can use all the know-how we have see what makes the city so interesting and available to work towards the best possible such a fun place to be. "You need more than Donner book store is open end result." Francoise Dechesne says this is shops to be an attractive city. This could he Forum Rotterdam project marks very inward-looking and uninviting part of one of the strengths of Multi’s operational be historical areas of interest, or a certain at Forum Rotterdam a very special transformation in an the city, Rotterdam residents and visitors approach. "You can see the Amsterdam area that for decades was something will now find a transparent complex head office as the point of departure These types of retail spaces Forum Rotterdam may still be under ofT a dead zone but is now a strategic that makes the connection to the busiest for experts, the base you use to provide are rare in Rotterdam construction, but the renowned Donner a new entrance on the ‘Binnenwegplein’ location in the heart of the city. In 2019, surrounding shopping streets and squares. clients with your know-how and expertise, book store has already opened most of square. With Multi’s help, Donner was this area will be once again be a vital part And on top of that, the complex is right on regardless of the country they are in. Our atmosphere, or it might be exceptional its new store to the reading public. The relocated to a temporary store in the of the lively centre of the city. Right now, top of a metro station. development team acts as a task force you architecture like that found in Rotterdam. Donner store will ultimately take up former ABN Amro bank building at the construction is still very much underway can deploy anywhere. And you can add or If you add a great range of places to eat or roughly 4,000 sq.m and offer visitors start of the construction works, so they and it is far from being a building site for The historical parts of the hire local knowledge. In our view, it doesn’t have a drink to the mix, you have a city that a wide selection of books, music, gifts could to stay open during the project. beginners. The construction elements that matter where the assets are, because Multi is an essential part of social life. It may be and even food and drink. The store Despite all the chaos, customers have together make up the Forum Rotterdam building being carefully works cross-border." View towards the backside of the Lijnbaan a response to the fact that people spend will be completed in the spring of 2019, remained loyal during a series of project have five different owners and the unveiled again so much time online these days, that they including the atrium with a theatre, and creative relocations. work is being carried out by two different Engaging with the local environment In terms of the logistics of transporting want to get out there again and see each contractors. The building site is surrounded There are already clear signs of progress on To reduce the negative impact of the building materials in and out of the site, other and share experiences. A project like by listed and sensitive city centre buildings the impressive former bank building. All nuisance created by the construction we introduced a system of time slots, so Forum Rotterdam is an excellent response and even construction vehicles have a quite the historical elements have been restored. process to the minimum, you need very there are never trucks in the way of normal to that development." a bit of trouble accessing the location. The brown windows have been re-glazed careful environment management. traffic. The future logistics system for with the transparent glass from the original Francoise Dechesne: "Ultimately, as a deve- supplying shops in Forum Rotterdam will "Yes, this is a very challenging project in designs. And a glass roof has been added loper you are a temporary guest in the area be a lot more sophisticated, thanks to a View from the Coolsingel construction terms", says Marc Bagchus, to make the top floor more interesting. where you are building. We put everything handling basement with two elevators for associate technical director at Multi. The building will be home to the famous we have into the project, but most of the trucks. " Although the site still looks like a complete Donner bookshop and a number of F&B time we leave when it’s finished. In the pandemonium, Forum Rotterdam should units on the ground floor. Also the ABN meantime, you leave something behind Primark will be the start opening its doors in phases in July Amro Bank will return to its former office that is there for the long term and where and August 2019. The qualification ‘chal- location. An additional 1,350 sq.m of office people will live and work. You can’t do that connecting heart of the lenging’ seems like something of an space on the fifth floor is still for rent. with the attitude of an outsider who simply project undestatement, but Bagchus is confident it walks in, plonks something down and walks will all be finished on time. From concept to execution off again. For instance, we do everything Primark and Five Guys Multi developed the concept for Forum we can to make sure that existing tenants Interest from retailers is growing rapidly Transparent and accessible Rotterdam in cooperation with Rem can remain open during construction. now that delivery of the project is on the The transformation of this 60,000- Koolhaas’ OMA architects (for the new- We arranged a temporary location for horizon. The new retail spaces on Lijnbaan sq.m complex has four components: the build sections) and Wessel de Jonge the Donner bookshop and they were the are unique in the city because of their redevelopment of the high-profile listed (for the historic building). Francoise first to be given the chance to move a part vertical design and space for a mezzanine. bank building into shops and offices Dechesne, managing director of Multi of their new shop into the listed bank International retailers have clearly set on Coolsingel; the transformation of an the Netherlands, explains how Multi building. Hollister also needs to stay open their sights on Rotterdam when targeting outdated office building into 103 rental tackles such a project, from concept to while we are renovating the facades, while a move into the Dutch market and Multi is apartments; a 17,000 sq.m (GLA) Primark execution." Our core business these days G-star is using the opportunity to renovate in talks with a number of fashion brands. store with three floors of retail and office is asset management and redevelopment the interior of its store during the project. De F&B unitswill be filled by Five Guys space, and 8,000 sq.m of new retail units on is a key part of that. Our head office has The process also takes into account the Hamburgers, Happy Italy, Bagels & Beans Lijnbaan. So instead of what had become a the professional skills we need for the draft kiosks and shops in the surrounding area. and Starbucks. A huge Primark will form Edition 2018/2019 | 30 Edition 2018/2019 | 31 NEW LEASES I nTERVIEW & Blanchardstown Q A welcomes new eateries Dario Pistone Managing Director Multi The recent arrival of the first International coffee house chain Esquire Krispy Kreme store in Ireland at was founded in Canada in 1993 and now Outlet Management Italy Blanchardstown Centre was easily the has over 130 outlets worldwide, across most talked about store opening in the US, Canada, New Zealand, Australia Highlights 2018 Objectives 2019 Ireland this year. The well-publicised and the UK. Pita Pit, also from Canada, One of our biggest highlights in The first target for 2019 is definitely Krispy Kreme opening was the most will soon open their first Irish outlet in 2018 was the opportunity we got to related to the recently-opened new successful in the company’s long history, Blanchardstown. Founded in 1995 as a easily beating all previous records healthy alternative to fast food, Pita Pit work on the opening of a new phase area in Franciacorta Outlet Village. Turnaround across their entire global portfolio now has over 500 restaurants, mainly in in Franciacorta Outlet Village. We We are already close to signing some of 1,300 restaurants. More than 300 the US and Canada. The final F&B unit opened the first wave of stores to the significant deals but next year will be people queued outside the restaurant will be occupied by sushi and noodle bar, public in early October, marking an crucial for the improvement in the on its opening day, determined to be Musashi. The Japanese eatery currently important target and something we brand mix we are looking for. But the first to get their hands on some real has five restaurants in Dublin and the are really proud of. In addition, we we should not forget the important artist US-style doughnuts. Attention is now are working hard on the continuous work we are currently planning for new Blanchardstown outlet will be their focusing on the three other restaurant first in a shopping centre environment. improvement of our other assets, by Puglia Outlet Village. This is starting chains set to open eateries in the newly Multi Ireland has spent the last 12 months renovating the structures and ope- to benefit from a series of openings Multi’s new man in Central Europe, Luca Maganuco, redeveloped block at Ireland’s largest redeveloping the block and turning this ning new spaces. One example is that we have recently finalised, which is taking on the Continent’s most vibrant retail market. retail and leisure destination. partly empty space back into productive Valdichiana, which now has a brand we believe will further improve the use. The newly-developed block will add new retail area on the first floor, brand level and the sales of this out- One of these, Esquires, has already vibrancy to the retail and leisure offering where we have a restaurant of over let centre. Mantova Outlet Village opened its new 190-sq.m flagship outlet, at Blanchardstown and significantly 1,300 sq.m and a number of stores. will also benefit from a number of immediately adjacent to Krispy Kreme, boost the centre’s rental income. planned developments, including taking their tally in Ireland to 14 outlets. Trends 2019 and beyond the addition of an 'orangerie' that Italy is facing an interesting scenario: will be built from scratch in the main Forum Palermo, Sicily the outlet market is still healthy and square, which will also host a new hen Luca Maganuco looks at growing, and our customers are ‘ac- food court. Generally speaking, we Central Europe, he sees enthu- customed to privilege’ which means will continue to work on reinforcing siastic shoppers, a comparative they want good choices and a high the position of our Land of Fashion W level of service. We will work in both outlets network in the market. Just as scarcity of modern retail space and a powerful transaction market. And he also of these directions, in terms of im- we have done in 2018, we will use up feels a bit of déjà vu. "To some extent, it proving our customers’ experience all of our skills and put all of our ef- looks like Italy years ago," said Maganuco, and delivering more value to our forts into making us the first choice who started off his property-management loyal customers. and the best choice for both our cur- career in Italy 16 years ago. The 45-year-old rent customers and new visitors. economist has recently been appointed managing director for the Central and Eastern Europe division of Multi NEW LEASES Corporation and this new opportunity reminds him of what he saw back then. Van Graaf debuts in Forum Gdańsk In the beginning of his professional path Van Graaf has opened its first outlet in Gdańsk. The shop offers superior quality Maganuco was working for a consulting women’s and men’s clothing – from basic models to international premium company taking care about new business collections of prestigious brands – on 3,249 sq.m. start-up projects. One of his first assign- ment was a short-term consulting project for a development company: to lay the foundation for Italy’s first dedicated property-management firm. As he began the formalities of setting up the enterprise, something unexpected happened. "The Value add strategies idea was just to help them, but once I team opened a dozen centres, including the company’s 13-centre portfolio in "But though the particulars of the Italian understood the details of the business, Turin’s first integrated urban centre. By the Poland, Slovakia and Ukraine. Keeping up property turnarounds have been different, I began falling in love with it," Maganuco time the firm was sold to a private equity with the two jobs has required Maganuco there has been some commonality as well, said. What interested him was the group, six years on, Agorà was managing 22 to divide his workweek between Milan such as efforts to improve the quality of challenge that retail presented. "Retail is centres throughout Italy. and Warsaw, Poland. Home, meanwhile, common space," Maganuco says. "The dynamic; retail is not ‘stable’ - you need continues to be near Lake Como, north of idea is basically that, in order to maximize to continually adapt the content and the Maganuco then moved on to asset- Milan. the value of each of the schemes to shape of the scheme under management management roles that included stints increase dwell time, you need to work according to the market needs and market at ING Real Estate and CBRE Global Some might wonder why an asset manager on the box to make it better, to make it structure." Investors. In 2014, he made the transfer with experience in Italy would be asked to more pleasant and to make the customer NEWS Ultimately, Maganuco applied for employ- to Multi who needed someone who assume responsibilities in the CEE region. welcome," he said. ment at Agorà - as the firm he had helped could turn underperforming retail assets Multi Corp. CEO Josip Kardun touts organize during his student days came to around quickly and boost their value in Maganuco’s vast experience and expertise, Three goals are at the top of his Central Kids are safe at Forum Aydin be named. He served first as marketing Italy. Four years after this, he received yet both on the redevelopment side and on European agenda: to find buyers for Multi director, then he moved over to leasing, another summons, this time asking him to the operational side of the shopping Corp.’s assets in the region; to win the and in short order he became leasing shoulder management of Multi’s Central centre sector. But Maganuco himself boils mandate to keep operating some of those director. Over the next four years, his and East European business - including it down to those swift-turnaround skills centres; and to scout around for new his team built up under Blackstone. "Our centre management clients - investors trademark is the capability to turn around interested in boosting the value of their schemes, which is not so common in the properties. Maganuco is optimistic about market." that last point, noting that there are lots Forum Madeira completes renewal project of transactions in the CEE market right with Lefties opening Success has in part involved the willingness now. "This creates opportunities, because This August, Forum Madeira celebrated of seven stores and the creation of a new to pay close attention to details, Maganuco when there are transactions, there are new the completion of a three-year upgrade entrance on the 2nd floor to create the explains. "Many firms follow a cut-and- owners," he said. "They may be interested with the opening of the first Lefties space for this highly popular fashion paste strategy when it comes to the tenant in having a new property manager." fashion store in Madeira. The opening brand. Lefties will strengthen Forum mix," he says, but he places no confidence event was attended by representatives Madeira’s positioning as a centre of in that approach and tries instead to from the local council, Portuguese fashion, and joins fellow Inditex brand tailor each centre to the needs of the local model and actress Dânia Neto and other Zara Home, another Inditex store market. "If you see the schemes I have stakeholders involved. The three-year exclusive to Forum Madeira on the been managing the last four years, these programme included improvements Portuguese island. In 2017, about five Forum Aydin recently unveiled a new name and phone number, enabling are not all following the same strategy," he right across the Madeira centre, which million people visited the 20,000-sq.m customer experience tool, children’s centre staff to quickly reunite separated said. "Every scheme has its own strategy, its opened in 2005, and involved an Forum Madeira, a figure that is expected wristbands. Every parent knows how families. And to make life even easier for own tenant mix." By Bennett Voyles investment of around € 2 million. The to increase by 5% this year, thanks to the easy it is to lose sight of your children, both parents and children, Forum Aydin Lefties store is well over 1,000 sq.m repositioning and the investments made Reprinted by permission of Shopping especially in a busy place like a shopping now also offers brand new baby care and Forum Madeira’s upgrade and in the area around the centre, both in centre. The new wristband contains the rooms, family toilets, a Kids Play Zone Centers Today, a publication of the reorganisation included the relocation the hotel and housing sectors. child’s and parents’ details, including and breastfeeding rooms. Magnolia Park, Wroclaw, Poland International Council of Shopping Centers. Edition 2018/2019 | 32 Edition 2018/2019 | 33

The entrepreneur who transformed It’s all about the story and the Portugal’s experience gastronomic culture

Restaurant Sala de Corte is just one of the many top restaurants that entrepreneur Rui Sanches has opened in Lisbon over the past few years. Together with Multi leasing Director Pedro Congrinho, Multi News joined Rui Sanches for lunch and an interview about his restaurant empire. Anyone entering Sala de Corte has to walk past an impressive dry-aged meat cabinet. This and the modern, stylish interior and immaculately attired staff promise to make this an unforgettable experience. Delidelux, Lisbon do Chiado shopping centre, his first family. At the entrance to the restaurant One step beyond and Portugal. ”An old dream”, Sanches leasing deal with Multi’s Pedro Congrinho. you can buy the ingredients to take home, Rui Sanches’ ambition was always going says. “We are already looking forward to Gradually the tide began to turn and and the view of the kitchen with its wood- to take him to the top of his chosen a spectacular reopening.” Multifood has the rest is history. By 2004, Sanches was burning ovens is pure show cooking.” Rui profession. In 2015, he teamed up with put its own teams of architects to work, Sala de Corte, Lisbon running 10 Vitaminas and now, twenty Sanches adds: “The smell of the ovens is famous chef Henrique Sá Pessoa and they but Sanches would like to add a famous years after he set up the business, he has like perfume!” Hardly surprising then that reopened restaurant Alma in Chiado in external architect to his team. 60 outlets all over Portugal. “And there is it is not unusual to find a two-hour queue the heart of Lisbon. “A year later, Sá Pessoa one in every single Multi shopping centre”, at Zero Zero. Their pizza was voted ‘best won a Michelin star,” says Sanches proudly. And we’re quite sure this is not the last adds Congrinho. pizza in Lisbon’ by Time Out. In professional circles, it is already being we shall hear from Sanches. He is already whispered that Alma is a contender for looking forward to the opening of Coyo A torrent of new food brands Knowledge, intuition and passion a second star at the upcoming Michelin Taco, the coolest Mexican street food In addition to his appetite for healthy food, Sanches’ feeling for good food is firmly awards. In 2017, Sanches opened Pesca, a concept and experience in Miami, guided Rui Sanches turned out to have an even based on knowledge, intuition and passion. less formal fish restaurant in Príncipe Real, by tradition, authentic recipes and quality bigger appetite for entrepreneurship. From “I’m constantly full of new ideas on with chef Diogo Noronha at the helm. ingredients. A truly Mexican cuisine with 2007 onwards, he opened almost one new how to innovate Portuguese cuisine,” he Working at the very top level adds another a modern twist. And to train and educate dining concept every year. His initial focus says. “Very much based on our mothers’ dimension to the profession, Sanches say. talent for the future, Multifood Group is was on quick service counters like Milano, traditional comfort cooking. But in a “You work with other techniques, creativity planning to open their own academy for Capri, Wok to Walk, Talho Burger and Eric restaurant, I want to eat that dish with a and concepts.” I ask him whether he can waiters, bartenders and sommeliers. Both Kayser. But Sanches was keen to expand his new presentation and made using new bring the same love and quality to his quick Sanches and Congrinho agree that dining horizons to larger restaurants, where you techniques. Plus it has to offer new ideas service outlets as to his top restaurants. out is incredibly popular in Portugal ui Sanches has made taste, atmos- Who is this man who opens one iconic can take your time and enjoy wonderful and new flavour combinations. I don’t Sanches does not hesitate for a second. right now and Lisbon has never been phere and good entrepreneurship restaurant after the other, each with its food with your family and friends. He came care what’s selling the most. What I care “That is exactly the goal. We bring a little more exciting on that front. Rui Sanches’ his life’s mission. He understands own remarkably striking interior? And the up with charismatic street restaurants for about is good products and creating great of the budget thinking to our fine dining, multiple brands have made a major R casual dining: Aprazível, Cais da Pedra, experiences. I care about consistent quality and we bring new techniques from the fine contribution to this trend. “We have good every single aspect of the restaurant man who talks as passionately about his business: how much people appreciate quick service counters as he does about Honorato and others. One of his most and being better every single year.” dining to the quick service.” people, good ingredients, and we have a delicious and healthy food, how you give his restaurant Alma, which was awarded recent new hotspots, and one Sanches great food culture. People are prepared to your customers a memorable experience, its first Michelin star within a year of has an extraordinary affinity with, is his Meanwhile, while we’ve been talking our Tavares spend money on dining out, especially the how to deal with chefs and other staff opening? Sanches tells us: “The trade press pizzeria Zero Zero. In his search for the lunch has been served. We start with the The crowning glory of Sanches’ career – for young foodie generation. The shopping members and how to run a business. He find it difficult to pigeonhole me. Icall perfect pizza, Sanches teamed up with the signature plate with green asparagus, egg the time being at least - is the acquisition centre industry is also well developed and I has an obvious feel for styling and design, myself a restaurateur. I’m not a chef, but an best pizza chef in Venice. “He basically and cured ham. For the main course, we of the historic restaurant Tavares, founded believe the best shopping centres will only and he knows exactly how important entrepreneur in restaurants and restaurant reinvented pizza dough,” says Sanches, “By share a superb T-bone steak platter with a in 1784 and one of the oldest restaurants get better in the future.” atmosphere, buzz, a well-known chef and concepts. I create restaurants with very using richer flour and longer fermentation range of delicate side dishes. Sanches tells in the world. It is housed in a listed location are for a successful business. And different ambiences that seduce people to times to make it easily digestible and me that this T-bone is from Ireland and building that has become an architectural it works, as people continue to flock to his eat and stay.” No profession offers so much tastier. And we source our cheese and needs to be dry hung for 45 days. The meal symbol of Lisbon. Sanches is planning to restaurants. He knows that people come potential for creativity, says Sanches, and ham from small producers in Italy. The is accompanied by a fine Portuguese wine. revitalise the restaurant, with its gilded to see and be seen, but also to see and talk he enjoys what he does every single day. texture and the taste are so fantastic We take a moment to toast the health of carving, stained glass, crystal chandeliers to each other. Laughing, he tells us he is “You can put all your ideas into it and put that I no longer enjoy traditional pizza Sanches’ son, who was born just a few days and rococo motifs, and return it to the thinking about putting up a sign saying ‘no your own stamp on a business.” anywhere else.” Pedro Congrinho agrees before. Congratulations! elite of the great restaurants in Lisbon social waste’ in his next restaurant. In other wholeheartedly: “I always go there with my words, put away your phone and enjoy the Pioneer in health restaurant Tavares, Lisbon moment. In his teenage years, Sanches was a keen rower and a two-time national champion. Rui Sanches is founder/owner of the Multifood Group, one of the largest and most Put your phone away However, when he stopped rowing, he prestigious Portuguese catering groups. It includes 19 own brands and two international started gaining weight. So he went to a brands, 144 restaurants, and over 2,100 employees. and enjoy the moment nutritionist for advice, but found it very difficult to find the type of healthy food Quality and attention are key priorities she prescribed in Lisbon restaurants. So, in all of Sanches’ restaurants. He always armed with a degree in administration and tastes everything himself and he is a real marketing, he decided to become a food perfectionist. That’s very clear when the pioneer and in 1998, at the age of 23, he waiter comes to the table to take our order. set up his first business. That business was Rui Sanches kindly asks the waiter to Vitaminas, a quick service concept with a communicate in English, so everyone at the colourful and appetising selection of fresh table can understand. One other detail: he vegetables, salads and low-calorie side personally chose the striking blue Liberty dishes. Lunches don't get much healthier plates on our table. They were not cheap, than this, even today. The healthy concept but they are very beautiful. And that’s what worked really well in summer, but was less it’s all about, says Sanches. “It’s all about popular in the winter. But Sanches kept at it the story and the experience.” and opened other outlets like in Armazéns Edition 2018/2019 | 34 Edition 2018/2019 | 35

Multi leasing teams: Exhibitons & Trade Fairs Colofon Multi News is a publication of For more information about Multi’s retail Multi Netherlands Multi Spain A new website Multi Corporation and is circulated Multi’s European network takes advantage of selected opportunities projects please contact: T +31 20 258 8888 T +351 21 413 60 00 to participate in international trade fairs across Europe to strengthen Daniel Schönberg, Leasing Manager Pedro Congrinho, Leasing Director on a non-paid controlled basis knowledge networks and explore retail innovations. International [email protected] [email protected] T +31 20 2588 122 Hakima Azaaj, Leasing Manager Jorge Pinto Fernandes, Mall Management Publisher for Multi Multi Corporation Scott Abbey, Leasing Director [email protected] Director [email protected] Pieter Verschueren, Jr. Leasing Manager [email protected] Multi’s Corporate Communications team is responsible for the company’s Coordination online presence. On 14 November, Multi is launching a new website with [email protected] Multi Belgium Multi Turkey Ellen van der Feltz more information and a better user experience. What can we expect? T +31 20 258 8888 Multi Poland T +90 212 349 1000 Daniel Schönberg, Leasing Manager T +48 22 22 22 800 Yaman Şahin Leasing Director Concept, copywriting and production Dijksman Consultancy, [email protected] Malgorzata Slowik, Leasing Director [email protected] [email protected] Ozge Zeybek, Leasing Manager Sandra Dijksman Multi Germany Monika Bielak, Senior Leasing Manager [email protected] T +49 (0)211 6170 3732 [email protected] Şenay Yılmaz, Leasing Manager Editor Garry Piggott Philip Bähr, Head of Leasing Anna Borowski, Leasing Manager [email protected]

[email protected] [email protected] Arlin Delice, Leasing Manager Olaf Kamann, Senior Leasing Manager Katarzyna Skrzypkowska, Leasing [email protected] Contributors Derk Gillis, TTDesign/Harry Vroemen, [email protected] Representative Gulşah Gokce, Senior Leasing Expert Anastasia Sukhova, Ellen van der Feltz, MIPIM P rOVADA in Amsterdam Lars Birkemeier, Senior Leasing Manager [email protected] [email protected] Sharon Feijen, Multi Marketing In March 2018 Multi professionals Multi team members attended dutch [email protected] Serdar Söylemez, Leasing Manager managers, Pedro Congrinho attended MIPIM, the major property real estate exhibition Provada from 5-7 Multi Outlet Management Italy [email protected] trade fair in Cannes, for networking June 2018 and hosted a well-attended Multi Hungary T+39 02 30462800 Pelin Durmuşoğlu, Leasing Manager and deal making with new and existing Chill & Grill event for Dutch retailers on T +36 20 502 9420 Luca Nasi, Leasing Director [email protected] Special thanks to Rui Sanches, CEO Multifood Group, contacts, market barometer monitoring, 5th June. Andras Karacsonyi, Senior Leasing Manager [email protected] Ekin Uğurlu, Leasing Expert Jakub Aleksandrowicz, Director Mar- and acquisitions. [email protected] Liliana Colombo, Leasing Executive [email protected] keting Pasibus, Tomasz Jagiełło, CEO Completely Retail Orsolya Fal, Leasing Manager [email protected] Deniz Aydoğmuş, Leasing Expert of Helios SA, Michał Biegaj, Head of ICSC European Conference Marketplace Amsterdam [email protected] Stefano Marchesan, Leasing Manager [email protected] Global Expansion, CCC, Bill Kistler At the Annual ICSC European Multi was one of the sponsors of this [email protected] İrem Özkan, Leasing Expert VP and MD of ICSC, Alessandro conference in Barcelona on 25/26th one-day retail event on 11th September Multi Ireland Carlo Mastroni, Leasing Manager [email protected] Paglia, Property Manager IKEA Italy, April 2018 it was announced that 2018. T +353 1 696 5060 [email protected] Begüm Sarakman, Senior Manager Bennett Voyles. Ellen van der Feltz, is fit for the future, with a new look and feel Multi CEO Josip Kardun will transfer Simon Cooper, Leasing Director Giorgio Fumagalli, Leasing Manager Leasing Head Corporate Communications: and improved functionalities.” his presidency to Peter Wilhelm CEO ICSC Retail Innovation [email protected] [email protected] [email protected] “Multi’s former website no longer met the of the Wilhelm & Co Group, as its Forum in Amsterdam Sira Kazancıoğlu, Leasing Expert Photography Koen Peters Epix fotografie, requirements of the company Multi is Sharon Feijen, new Chairman. The official handover Multi was Gold Sponsor for ICSC's Retail Multi Italy Multi Portugal [email protected] Łukasz Kurpiewski today. We needed a website that provides Corporate Communications assistant: took place in October this year. At the Innovation Forum in Amsterdam on 26- T +39 02 30462800 T +351 21 413 60 00 Photos made available free of our clients with a much higher level of “After an internal survey and an analysis conference Kardun joined a keynote 27 September 2018. The conference was Maurzio Oprandi, Head of Leasing Pedro Congrinho, Leasing Director Multi Ukraine copyrights service and presents Multi as it is right of various websites we briefed MarsMedia, session with peers on the effect of global attended by Multi marketing and asset [email protected] [email protected] Marina Nesterenko, Centre Manager now, a full-service retail platform. After a the web design agency, and they started disruptions in the retail market on local managers. During the conference the Luigi Orlacchio, Senior Leasing Manager Jorge Pinto Fernandes, Mall Management Forum Lviv lot of hard work, we will launch the new work on the development of our new site.” markets. winners of the Solal marketing awards [email protected] Director [email protected] Graphic design Tjabien Wissenraet website on 14 November 2018, on the first were announced, resulting in four Silver Francesco Mezzanotte, Leasing Manager [email protected] day of the most important three-day retail Barbara Voskuil, RLI Retailtainment awards for Multi. [email protected] Multi United Kingdom real estate fair in Europe, Mapic in Cannes. Manager Corporate Communications: On 8-9th May 2018 a delegation of Multi Slovakia T +353 1 696 5060 Print MediaCenter Rotterdam Our team proudly invites you to visit “It was an intensive process, involving leasing managers and Multi leasing Shopping Center Forum 2018 Multi Latvia Alexander Skotnica, Senior Leasing Simon Cooper, Leasing Director www.multi.eu.” daily contact between our team and director Scott Abbey attended the RLI CEE Exhibition & T +371 670 181 96 Manager [email protected] the developers. We have made some Retailtainment event in London to meet Conference Marcis Budlevskis [email protected] Anastasia Sukhova, significant improvements to the content, and talk to many retailers attending the On 26-27 September a delegation Linstow Business Development Kateřina Chadimova, Leasing Manager Graphic Designer at the Corporate navigation, the interactive experience event. attended this important conference for & Lease Director [email protected] Communications department: and functionality, but just as importantly the CEE region. [email protected] “Our starting point for the exposure of our we gave it a more personal touch. And MAPIC Italy new website was to bring it into line with of course, we will continue to make On 23 and 24 May 2018, Multi Italy took EXPO REAL our updated corporate identity, by using improvements. Our website is an ongoing part in the third edition of MAPIC Italy, From 8-10 October Expo Real took place our new style of photography, special filters project and it never stops.” the Italian real estate fair dedicated to in Munich. It is Europe's largest real and graphics. I am convinced that we have the national real estate market. During estate and investment trade fair. Multi managed to create a new Multi website that the fair, Multi Italy’s and Multi Outlet participated at the stand of the council www.multi.eu Management Italy leasing teams met of Düsseldorf. up with leading Italian retailers at the Multi stand.

Calendar - Come visit us NEWS Blanchardstown shopping centre prolongs Irish Hospitality Award Forum Gdańsk, finalist in the CIJ Awards for Best Retail Development 2018. The CIJ Awards is MAPIC Blanchardstown Centre in Dublin the longest-running commercial property awards event in Poland 14-16 November 2018 exhibition and awards ceremony, won the award for Shopping Complex Multi will be exhibitor at Mapic in bringing together more than 5,900 of the Year 2018 at this year’s Irish Palais des Festivals in Cannes. We would industry professionals in two days. The Hospitality Awards. Blanchardstown love to speak to you if you are attending event will be held at the Lutfi Kirdar Centre went head to head with all the the show and would welcome you to International Convention & Exhibition major shopping centres in Ireland and come and visit us at our stand in the Centre in Istanbul. won this prestigious award for the Riviera Hall to view our projects or have a second year in a row. The winners are chat. MAPIC is the leading international New York Deal Making a true reflection of high standards and retail real estate event. Around 9,000 3-5 December 2018 outstanding customer service, as they retailers will attend the event. Multi will New York Deal Making by ICSC is the Multi Headquarters are chosen by members of the general be present with a renewed stand. biggest retail real estate event on the 1000 Mahler building, Gustav Mahlerlaan 1025, 1082 MK Amsterdam, The Netherlands public. East Coast of the United States. With T +31 (0)20 2588 100, F +31 (0)20 2588 111, E [email protected] Istanbul Retail Days over 530 exhibitors, it is a great place to 29-30 November 2018 make deals on the spot. Disclaimer: Despite the constant care and attention we spend on this newspaper, it is possible that the information Retail Days is an annual must-attend in the newspaper is incomplete or incorrect. All information, products and services are offered in a current state Mercy Prendergast, marketing manager and without any warranty or guarantee regarding their accuracy, suitability or fitness for any particular purpose Blanchardstown retail event comprised of a conference, or otherwise. We exclude any liability for any direct or indirect damage of any kind arising. No rights can be derived from this newspaper.