Shopping Centers Today

JUL 2014

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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w o r l d at a g l a n c e Galeria Bursztynowa, a 32,000-square- meter (about 344,000 square feet) mall that opened in Ostro ł ka, Poland, at the end of May, could be in line for an expansion. Developer Narev Inwestycje reports that so many retailers are eager to get into the Tesco-anchored mall — it is already 93 percent leased — that it might need to be enlarged. Televisions have been a hot item in the run-up to the FIFA World Cup tournament currently under way in Brazil. TV factory production in Brazil is projected to be about 30 percent higher this year than last year. Overall sales of TVs there were up 50 percent year on year in the first quarter, ac- cording to Latin Link, a website for the Latin American media market. Peru continues to see robust development, including the openings of four shopping centers in Lima and 11 elsewhere in the country, according to Lima's Chamber of Commerce. In addition, 12 shopping centers are being expanded. The country had 60 shopping centers at the end of last year. Sambil Group is investing some €50 million (about $68 million) in Spain, to remodel Avenida M40, in Madrid. Last December Venezuela-based Sam- bil paid €17 million for the shopping center, which had been closed for two years, and which the firm is planning to reopen late next year as Sambil Outlet Madrid. Besides factory outlet stores, the 40,000-square-meter (about 430,500 square feet) shopping center will also feature a skydiving attraction. Hammerson's €495 million (about $670 million) Les Terrasses du Port, in Marseille, France, opened this spring. The 61,000-square-meter (about 656,500 square feet) mall, which con- tains nearly 200 stores and restaurants, is Hammerson's first retail project in France and the largest retail center to open there this year. Nearly 170 malls opened across Argentina, Brazil, Chile, Colombia, Mexico and Peru during 2012 and 2013, adding some 5.3 million square meters (about 57 million square feet) of retail space, according to Cushman & Wakefield. This is up 60 percent over the gross leasable area added during 2000 and 2011. 12 S c t / J u l y 2 0 1 4 12-13_SCT_JUL14_World-at-a-Glance.indd 12 6/12/14 5:48 PM

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