Property
The announcement this summer that Alibaba might open a distribution centre in Liège, Belgium, was met with a lot of jealousy in the Netherlands. Prime Minister Mark Rutte has now received founder Jack Ma personally in order to try to change his mind.
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Amazon is planning to open 3000 cash-free supermarkets in the following years. This would immediately make the e-commerce giant one of the largest supermarket chains in the United States.
Property investor Unibail-Rodamco-Westfield, one of the world's largest real estate funds with a focus on offices and shopping centres, saw its rental income rise sharply. The Netherlands however told a different story.
As traffic in Belgian shopping streets - and especially in smaller cities - decreases, real estate agents have to agree to rent discounts in order to find or keep new tenants.
Dutch retail real estate fund Vastned has posted a rise in like-for-like gross rental and aims to continue its focus on top locations in city centres, but warns that real estate prices are increasing heavily in those places.
In the second quarter of 2018, the members of the Belgian Luxembourg Council of Retail and Shopping Centers (BLSC) registered a 1.82 % drop in visitors compared to the same quarter in 2017.
In celebration of the tenth anniversary of its London shopping centre, Westfield has released its strategy 'Destination 2028', containing delivery drones, smart toilets, sensory gardens and silent rooms for contemplation.
Charleroi’s shopping center Rive Gauche has done very well last year and will now get a new owner. It attracted 650,000 visitors a month last year, becoming the second most popular shopping center in Belgium.
Canadian investor, Alberta Investment Management Corporation, paid about 300 million euro for Docks Bruxsel, a shopping center in Brussels. Developer Equilis had been looking for a buyer as soon as it completed the project in 2016.
Six months after entering the German market, Mitiska Reim is announcing the acquisition of a third German retail park. The Belgian retail investor has partnered with Zamberk Real Estate Ventures to renovate and manage a retail park in Braunschweig.
The Westfield shopping centre in West London is now Europe’s largest, after its 68,748 sqm addition was put to use six months ahead of schedule. The extension cost about 600 million pounds (some 700 million euro).
General
Amazon is apparently interested in several of bankrupt Toys ‘R’ Us’ stores, because their locations and stores would fit Amazon’s own retail formulas.
Belgian listed real estate developer Banimmo sold its French subsidiary, which specialized in retail real estate transformation. It has been sold to help lower the parent company’s debt.
French-Dutch real estate company Unibai
Fashion
Hudson's Bay is on track in the Netherlands, the company’s marketing director Edo Beukema states after a lot of criticism. He says there is no truth to the rumour the department store chain is planning to leave, but it will adjust its marketing approach and pricing.
Unibail-Rodamco acquired its competitor Westfield for 14 billion euro and will gain control over 35 shopping center (33 in the United States). The resulting company will become the world’s largest real estate company.
