Italy stars at MAPIC - Il Quotidiano Immobiliare

Year V Issue 24, November 2015
in partnership with
Italy stars at MAPIC
The 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.
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,8
20
Deepening Periodic for the Real Estate operators
Poste Italiane S.p.A. - Spedizione in Abbonamento Postale - 70% - LO/MI
€
Guglielmo Pelliccioli
2015: A breakthrough year
for Italian retail
The sector challenged by its complexity
M
5
marco luraschi
editor-in-chief
IL QUOTIDIANO IMMOBILIARE
APIC 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 secondbiggest 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.
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”.
6
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.
7
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.
italy
stars
at mapic
Year V
Number 24
November 2015
Deepening Periodic for the Real Estate operators
Founder:
Guglielmo Pelliccioli
Editor-in-chief:
Marco Luraschi
Editorial team:
Elena Curnis
Pietro Zara
Marina Bettoni
Graphic editing:
Massimo Ghilardi
Graphic layout:
Daily Real Estate s.a.s.
PA to the editorial team:
Lara Pelliccioli
Subscriptions and adv:
Simona Galiero
Direction, Administration,
Editorial and Advertising:
DAILY REAL ESTATE S.R.L.
Registered office:
Via Pascoli, 7
24121 Bergamo
Editorial office:
Via Copernico, 40
24069 Trescore B.rio (BG)
Contact us:
Tel. +39 035 - 211356
www.ilqi.it - [email protected]
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– Bergamo
“Ai sensi dell’art.2 comma 2 del codice di
deontologia relativo al trattamento dei
dati personali nell’esercizio dell’attività
giornalistica, si rende nota l’esistenza di
una banca-dati personali di uso redazionale
presso la sede di Via Locatelli, 22 Trescore
B.rio (BG). Gli interessati potranno rivolgersi
al responsabile del trattamento dei dati
presso detta sede per esercitare i diritti
previsti dal D.lgs 196/2003”
summary
05
2015: a breakthrough year for Italian retail
The sector challenged by its complexity
marco luraschi, il quotidiano immobiliare
A spotlight on Italy at MAPIC 2015
MAPIC Italy: a dedicated event next year
12
nathalie depetro, mapic
16
A year of hard work for CNCC
Italian retail market showing positive signs
massimo moretti, cncc
Public Properties at Mapic for the very first time
A great opportunity for international retail investors
20
roberto reggi, agenzia del demanio
23
ilQI: An even bigger real estate network
A new QITV studio in the heart of MAPIC
editorial team, ilQI
A new season for Italian retail real estate
A new positive cycle is here
27
Pietro Malaspina, cncc
30
The challenges of marketing
These are my solutions: are you ready?
ermanno canali, canali & co.
Deals: the pipeline appears to be robust
Remarkable properties on sale
32
Luca Zaffaroni, The Royal Bank of Scotland
34
Consumption and foreign investments drive the industry
Italian shopping centres are performing well
Roberto Zoia, IGD SIIQ
People design shopping locations
Successful retail assets start from customers’ needs and desires
37
Giuseppe Roveda, aedes group
39
Is retail still an opportunity for international investors?
Resurgence of the Italian market
Mario Pellò, TH Real Estate
Understanding the needs of each client
Cogest Retail: growing demand for strategic analysis and studies
41
Roberto Marchetti, Cogest Retail
43
The plan for retail to transform urban centres
Market needs professional services
Savino Natalicchio, REAG Duff&Phelps italy
Looking for new opportunities in Italy
Sonae Sierra: third party services
Josè Maria Robles, Sonae Sierra Italy
46
summary
48
Omnichannel and reverse showrooming
The future of retailing
Alberto Albertazzi, svicom
A market in recovery with a lot of news
Innovative by tradition
50
Corrado Vismara, Larry Smith Italy
52
Novoli, re-developing the future
How a good leasing team can reverse a losing battle
Corrado Erba, Immobiliare Novoli
Why we’re focusing on European retail
Italy: confidence in the market
55
Pietro Clemente, Grosvenor Fund Management
57
An innovative approach to the market
ATG R&M to manage complex projects
Andrea Silipo, Arcotecnica Group
Meet the needs of international investors
Trying to understand how to attract interest
59
Paolo Magnaschi, MF RE Advisory, MF Studio Legale & Tributario
62
Drafting Radius Clauses for Factory Outlet Centres
Two elements to consider
Alessandro Matteini and rita marchetti, Baker & McKenzie
RE and energy services also in supermarket chains
Prelios Integrated Services with Officinæ Verdi
65
Piercarlo Rolando, prelios integra
67
The real estate challenge
Italian market offers a better quality building
Michele Siggillino, Burger King Restaurants Italy
Retail: a constantly changing business
Shopping centres are becoming increasingly attractive
69
Tobias Zickfeld, F&M Retail GmbH
71
Real Estate contamination
Urban Regeneration is now an urgent issue
Rachele Vigilante, Gabetti Property Solutions
Escalator: the moving-step invention
The revolution for retail people flow
73
Andrea Pilone, otis italy
77
We make Shopping Village real
Seci RE in the Castel Romano Commercial Centre
giuliano montagnini, seci real estate
Stone City: sustainability and suggestion from stones
A design that follows trends, also for retail business
gianni sottocornola, granulati zandobbio
79