New And Refurbished Shopping Centre Projects To Showcase At MAPIC

Oct 19, 2012, 12:12 ET from Reed MIDEM

PARIS, Oct. 19, 2012 /PRNewswire/ -- From Brazil, the Russian Federation and the United States, via China, Belgium and United Kingdom, a broad range of shopping centre projects will be showcased at MAPIC. The event will offer an opportunity to discover centres that have been refurbished or incorporated into mixed complexes, always designed to attract consumers.

Organised by Reed MIDEM, a subsidiary of Reed Exhibitions, MAPIC will take place in Cannes, from 14 to 16 November.

To tailor the products and infrastructure of their shopping centres to new consumer expectations, a large number of managers and investors are undertaking major makeovers. These mainly involve mature markets that are most affected by current austerity measures and have less space (Cushman & Wakefield's A Global Perspective on the Shopping Center industry, September 2012).

In the case of emerging markets, the focus is more on new projects, very often incorporated into mixed urban developments. The close juxtaposition of offices, housing, hotels, and easy access by road and public transport are now vital factors for new consumers.

"Developers must constantly reinvent their shopping centres to attract consumers that want a functional yet pleasant site that also offers a full shopping experience. The international diversity of the shopping centres exhibited at MAPIC provides a comprehensive view of innovations developed for retail real estate," said Nathalie Depetro, Director of MAPIC.

Here are some examples of new shopping centre projects presented at MAPIC that illustrate these trends. To see more projects from 26 countries, click here.

London Mall (Russian Federation)

The Russian property developer FortGroup is renovating the Felicita Mall shopping centre in St. Petersburg. Designed by the architectural firm Chapman Taylor, Felicita Mall will be transformed into London Mall, a shopping centre themed on the British capital highlighting the city's most famous landmarks such as Big Ben, London Bridge, London Eye, black cabs and red telephone boxes. Within the 61,300 m², visitors will also find hypermarkets, ready-to-wear and electronics shops, a playground for children and restaurants. The renovation will be carried out in the third or fourth quarter of 2013.

South Street Seaport (United-States)

The American Company Howard Hughes is working on the revitalisation of South Street Seaport. Located near Manhattan, the building features the complete transformation of Pier 17, including a vibrant, open rooftop and a glass facade encompassing dynamic retail space filled with destination stores, restaurants and neighbourhood shops. Larger open spaces on the pier level, along with the new rooftop space - ideal for concerts, music and other entertainment events - will showcase breathtaking views of the city skyline, East River and Brooklyn Bridge. Work will begin in 2013 and be completed in 2015.

World Trade Center Wuxi (China)

World Trade Center Wuxi is an urban project located in the southeast of Taihu Square near Shanghai and easily accessible by public transport. It will comprise a shopping mall, offices, a five-star hotel and an international exhibition centre. The complex is in Art Deco modernist style. After 5 years of development, World Trade Center Wuxi begins to take shape and is scheduled to open in June 2013.

METROPOL Istanbul Project (Turkey)

Metropol Istanbul is developed by Varyap and Gap Inşaat, a joint venture of two leading construction companies of Turkey in collaboration with Emlak Konut REIT, a government subsidiary of the Housing Development Administration of Turkey (TOKI). It is a mixed-used project located in Istanbul's International Financial Centre in Ataşehir, on the Asian side of the city. Metropol Istanbul will be the new luxury shopping centre, attracting 20 to 22 million visitors a year. Designed by the RMJM architectural practice in collaboration with the engineering design firm HYDER, the project consists of three skyscrapers, one of them rising to 250 m, making it one of the highest buildings in Europe. It will provide a 160,000 m² shopping centre on two levels as well as the city's largest recreational centre with 17 cinemas. Within the premises, Metropol Istanbul will also have an outdoor fashion avenue, Metropol Catwalk, covering 20,000 m². The project will also include high quality residential buildings and offices, all sustained by direct sunlight and offering easy access to main roads. It is scheduled to open in 2015.

For editors:

Founded in 1963, Reed MIDEM is a leading organiser of professional, international tradeshows. Reed MIDEM events have established themselves as key dates in professional diaries. The company hosts MIPTV, MIPDOC, MIPCOM, and MIPJUNIOR for the television and digital content industries, MIDEM for music professionals, MIPIM, MIPIM Asia  and MAPIC for the property and retail real estate sectors.

Reed MIDEM is a division of Reed Exhibitions, the world's leading events organizer, with over 500 events in 39 countries. In 2011 Reed brought together six million active event participants from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organized by 33 fully staffed offices. Reed Exhibitions serves 44 industry sectors with trade and consumer events and is part of the Reed Elsevier Group plc, a world-leading publisher and information provider and a FTSE 100 company.