ICSC Euro Brief

ICSC EuroBrief is a weekly bulletin from ICSC Europe

Eklenme Tarihi : 24 Mart 2008 Pazartesi
icsc-euro-brief
March 24, 2008 Sonae Sierra to invest 1.2 billion for mall projectsPortugal's Sonae Sierra plans to invest 1.2 billion on 27 shopping centre projects in the seven countries it currently operates in. The developer said it will be among the top three developers in those countries within five years. Fifteen of the projects will be brand new, and 12 will be shopping centres outside Portugal, including a new 53 million shopping centre in Brazil. Forbes March 17, 2008 Charles Joye, European retail development pioneer, deadCharles Joye, a major figure on Europes retail real estate scene who was instrumental in founding, expanding and leading ICSC Europe, died March 20. He had been battling lung cancer. He retired this past autumn from Retail and Development Services, the Geneva, Switzerlandbased consulting firm he established in 1981. ICSC Newswire March 20, 2008 Metro may sell KaufhofGermany's super retailer Metro AG said last week it plans to restructure the group, a move that might include selling off its Kaufhof department stores and some underperforming Real hypermarkets. The Kaufhof stores may be sold to rival Arcandor, owner of the Karstadt chain of department stores. Earth Times March 18, 2008 Ikea to expand in RussiaSwedish home retailer Ikea said it is generating stronger than ever sales growth in Russia, seeing 50 percent growth last month from the year before. The retailer said it plans to increase its stores in Russia from 10 to 25 within five years. Bloomberg March 19, 2008 Marks Spencer to build eastern Europe storesU.K. retailer Marks Spencer acquired 51 percent of its franchise partner COMS for 13.6 million. COMS operates 13 MS stores in the Czech Republic, Slovakia, Latvia and Lithuania. The joint venture expects to open 30 new stores in these markets, and Estonia, in the next few years. RTT News March 20, 2008 Bank consortium buys stake in Arcandor portfolioA consortium of Deutsche Bank's RREEF funds, Milan's Pirelli Real Estate, Generali and the Borletti Group signed an agreement with German group Arcandor to buy a 49 percent stake in its High Street portfolio. The 800 million deal includes 164 department store properties and 2.1 million square feet of space. Reuters March 19, 2008 Carrefour sells Bulgaria mall developmentFrench retailer Carrefour sold a mall under development in Sofia, Bulgaria, to private Greek property fund Assos for 200 million. As part of the deal, Carrefour will retain ownership of the 14,600-square-meter (157,000 square feet) hypermarket in the mall. The mall will total 66,000 square meters upon completion. Sofia Echo March 17, 2008 Penta to buy Russia's Semya chainCzech private equity group Penta Investments agreed to buy Russian supermarket chain Semya in a deal worth 128.7 million. Penta beat out several other bidders to win the deal, including Russian chains Seventh Continent and X5. CNN Money March 17, 2008 BVIC begins development of Athens centreGreek developer BVIC has begun construction on its mall in Athens after receiving permission from urban planning authorities. The first phase will include the development of 32,160 square meters (346,000 square feet) of space over three levels. Europe Real Estate March 17, 2008 Metro to open India storesThe Indian arm of Metro AG, Europe's second-largest retailer, said it will invest approximately Rs 300 crore (47.3 million) to open two new stores in India, in Kolkata and Mumbai this summer. This will bring Metro's total stores in India to five. The Hindu March 16, 2008 Baneasa Shopping City opens in BucharestA new shopping centre in Romania, the Baneasa Shopping City, opened Friday in Bucharest, bringing several fashion brands to the country. The 85,000-square-meter (915,000 square feet) centre cost 150 million to build. Property EU March 18, 2008 Lend Lease cancels London mall dealU.K. developer Minerva saw its shares fall the most in three months after Australia's Lend Lease pulled out of a deal to buy a 50 percent stake in the £500 million Park Place mall project in Croydon. Minerva was required to find a main tenant for the new mall by the end of 2007 as a condition for the sale to Lend Lease, but failed to do so. Bloomberg March 19, 2008 Banana Republic opens first U.K. locationU.S. retail chain Banana Republic opened its first U.K. store last week. The new store is located on London's fashionable Regent Street. It includes three floors covering 17,000 square feet. The Telegraph March 20, 2008 Netto U.K.'s fastest-growing supermarketValue-priced supermarket chain Netto is the U.K.'s fastest growing supermarket retailer, according to numbers reported by market research group AC Nielsen. The chain has grown 11.2 percent in the last year to its current 182 stores. It has now cornered a little under 1 percent of the total U.K. grocery market. Retail Bulletin March 17, 2008 WH Smith buys hospital storesU.K. retailer WH Smith has acquired UNS Hospitals for £19 million, netting it 72 stores under the United News name and eight Caffe Nuovo coffee shops in 62 U.K. hospitals. Retail Bulletin March 19, 2008 Work begins on Sevastopol mixed-use projectUkraine firm XXI Century Investments has begun work on a mixed-use project in Sevastopol. The complex, which will include the 45,000-square-meter (484,000 square feet) Kvadrat shopping centre and 46,000 square meters of residential space, is scheduled to be complete in 2010. Forbes March 18, 2008 Global Department Store Summit plannedTop executives from the worlds leading department store chains will be converging on London May 29 for the first ever Global Department Store Summit. The gathering, organized by the Intercontinental Group of Department Stores and Selfridges, will feature presentations by department store CEOs from Europe, Asia, America, Africa and Australia. IGDS March 28, 2008 ICSC EuroBrief is a weekly bulletin from ICSC Europe. For inquiries about ICSC Europe, contact info.europe@icsc.org Tel. +44 20 7976 3102.Copyright © 2008 ICSC
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