Year V Issue 24, November 2015

Deepening Periodic for the Real Estate operators

20,80 €Poste Italiane S.p.A. - Spedizione in Abbonamento Postale - 70% - LO/MI

Guglielmo Pelliccioli

Italy stars at MAPICThe Italian presence at MAPIC has been a winning factor on all

of the latest occasions on which this trade fair for shopping centres was held. This is because, for this particular market segment, Italy is especially well represented in Cannes, in terms of both the number of companies exhibiting and the number of visitors attending - undoubtedly a sign of the dynamism of a market which has withstood the toughest periods of the crisis. This year the Italian Real Estate community goes to MAPIC with a proactive, highly optimistic attitude thanks to a number of factors, not least a purely internal matter which sees a new leadership team at the head of CNCC, the industry’s trade association. The presence in the Italian marketplace of international investors has, over the past year, extensively favoured the shopping centre industry. In any case, the entire category of operators associated with the shopping centre supply chain remains uncertain about its future and is attempting to understand in which direction to move. Here, too, many of the industry’s certainties no longer hold true and one of these is consumption. For the moment, footfall numbers are holding out and this leads centre managers to place their hopes in sales picking up again. Consumer awareness will have to be raised with new openings, new brands, suitable spaces and high-visibility related services. But it will also be necessary to persevere on management costs, energy savings, system optimisation and location.

in partnership with

marco luraschieditor-in-chief

iL QUotidiAno iMMoBiLiAre

2015: A breakthrough yearfor Italian retail

MAPic in cannes is not only the most important international trade fair dedicated to retail real estate but it is also a fixed event for the world of italian

retail property, which traditionally occupies the corridors and halls of the Palais and is second in number only to the french presence there. this year more than ever, the italian market which is represented in cannes is strong with a renewed vitality and a new impetus for development of projects and is increasingly the focus of interest from major international players, primarily American. the close of 2015 could be characterized by a significant growth in both visitors and consumption data for italian shopping centres. the direction changed a few quarters ago. of course retail stock on the italian market is not all uniform, however; there are at least 4 or 5 different segments, depending on performance.

of course, retail being the most dynamic sector par excellence, it is understandable that there is high turnover for obsolete product and that not all properties produce satisfactory results, especially because in the last pre-crisis period too much was built, sometimes without the right market strategies. As far as regards corporate investment, in Q3 more than €320 million were invested in the retail sector in italy, the second-biggest asset allocation after offices. Whilst it may be true to say that we have not seen the same numbers as in 2014, we do know that there are several different operations in the pipeline which are due to be closed later this year or in early 2016. these operations are more long-term than opportunistic and are designed to take advantage of discounted prices.

The sector challenged by its complexity

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MAPIC in Cannes becomes significant in the run-up to MAPIC Italia. to be held in Milan in May. MAPIC Italia will mark a historic step for the Italian market which will finally have its own, international, retail event.

this year’s MAPic is key for our market: italy is protagonist, thanks also to the work carried out for over a year by the cNcc, led by massimo moretti, who has managed to create a strong bond with the organisation. not without reason has MAPic in cannes becomes significant in the run-up to MAPic italia. to be held in Milan in May, MAPic italia will mark a historic step for the italian market which will finally have its own, international, retail event.We also want to highlight the presence, for the first time ever, of the Agenzia del Demanio (the State Property Agency) in the person of its director

roberto reggi, who answered the call with enthusiasm (and answered our invitation too), realising that the commercial sector can be a very strong stimulus to the renewal of large, abandoned areas owned by the public sector. it’s not just about older generation shopping centres, rather it’s about modern, mixed spaces, places for entertainment and for socialising, landmarks and developments affecting the while surrounding area. they represent a frontier to be explored, especially considering that we are heading towards “zero land consumption”.

in recent years, the retail sector has undergone a fundamental transformation in terms of both product and content: the formats that are on the market and which are winning the approval of the public are those which have managed to read the needs of their clients, who are increasingly well informed and are ever more ‘technological’ and selective in their choices. online retail and e-commerce can be opportunities for shopping centre development and the fear of cannibalization appears to have waned because physical space remains essential for brands. Yet the challenge to attract customers is ever more complex and selective. one cannot improvise at managing retail or brands.

Let’s also mention the high street: the most important international brands are looking for centrally located spaces in major italian cities (perhaps left vacant by the banks or by the public sector) as if they were “gold nuggets”, for the chance of breaking into a market characterised by astronomical prices. in conclusion, this year italy will conquer the space it deserves at MAPic, and it will do so by bringing with it new and innovative development projects, some of which will directly involve the italian market itself. the first signs of a possible recovery in the real estate sector arrived some time ago from the retail sector and now the investor attention has returned to retail once more, so that it is time for the sector to be recognized for its real weight within the italian economy.

The first signs of a possible recovery in the real estate sector arrived some time ago from the

retail sector and now the investor attention has returned to retail once more.

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Year V

Deepening Periodic for the Real Estate operators

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Founder:Guglielmo Pelliccioli

Editor-in-chief:Marco Luraschi

Editorial team:elena curnisPietro ZaraMarina Bettoni

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italystars

at mapic

November 2015Number 24

summary

A year of hard work for CNCCItalian retail market showing positive signs

massimo moretti, cncc

16

A spotlight on Italy at MAPIC 2015MAPIC Italy: a dedicated event next year

Nathalie depetro, mapic

12

ilQI: An even bigger real estate networkA new QITV studio in the heart of MAPIC

editorial team, ilQi

23

Public Properties at Mapic for the very first timeA great opportunity for international retail investors

roberto reggi, agenzia del demanio

20

The challenges of marketingThese are my solutions: are you ready?

ermaNNo caNali, canali & co.

30

A new season for Italian retail real estateA new positive cycle is here

pietro malaspiNa, cncc

27

Consumption and foreign investments drive the industryItalian shopping centres are performing well

roberto Zoia, igd SiiQ

34

Deals: the pipeline appears to be robustRemarkable properties on sale

luca ZaffaroNi, The Royal Bank of ScoTland

32

Is retail still an opportunity for international investors?Resurgence of the Italian market

mario pellò, Th Real eSTaTe

39

People design shopping locationsSuccessful retail assets start from customers’ needs and desires

giuseppe roveda, aedeS gRoup

37

The plan for retail to transform urban centresMarket needs professional services

saviNo Natalicchio, Reag duff&phelpS iTaly

43

Understanding the needs of each clientCogest Retail: growing demand for strategic analysis and studies

roberto marchetti, cogeST ReTail

41

Looking for new opportunities in ItalySonae Sierra: third party services

Josè maria robles, Sonae SieRRa iTaly

46

2015: a breakthrough year for Italian retailThe sector challenged by its complexity

marco luraschi, il QuoTidiano immoBiliaRe

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summary

Novoli, re-developing the futureHow a good leasing team can reverse a losing battle

corrado erba, immoBiliaRe novoli

52

A market in recovery with a lot of newsInnovative by tradition

corrado vismara, laRRy SmiTh iTaly

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An innovative approach to the marketATG R&M to manage complex projects

aNdrea silipo, aRcoTecnica gRoup

57

Why we’re focusing on European retailItaly: confidence in the market

pietro clemeNte, gRoSvenoR fund managemenT

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Drafting Radius Clauses for Factory Outlet CentresTwo elements to consider

alessaNdro matteiNi and rita marchetti, BakeR & mckenzie

62

Meet the needs of international investorsTrying to understand how to attract interest

paolo magNaschi, mf Re adviSoRy, mf STudio legale & TRiBuTaRio

59

The real estate challengeItalian market offers a better quality building

michele siggilliNo, BuRgeR king ReSTauRanTS iTaly

67

RE and energy services also in supermarket chainsPrelios Integrated Services with Officinæ Verdi

piercarlo rolaNdo, pRelioS inTegRa

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Real Estate contaminationUrban Regeneration is now an urgent issue

rachele vigilaNte, gaBeTTi pRopeRTy SoluTionS

71

Retail: a constantly changing businessShopping centres are becoming increasingly attractive

tobias Zickfeld, f&m ReTail gmBh

69

We make Shopping Village realSeci RE in the Castel Romano Commercial Centre

giuliaNo moNtagNiNi, Seci Real eSTaTe

77

Escalator: the moving-step inventionThe revolution for retail people flow

aNdrea piloNe, oTiS iTaly

73

Stone City: sustainability and suggestion from stonesA design that follows trends, also for retail business

giaNNi sottocorNola, gRanulaTi zandoBBio

79

Omnichannel and reverse showroomingThe future of retailing

alberto albertaZZi, Svicom

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