The eighth edition of the leading show in Italy in the commercial real estate market ends. Focus and exceptional speakers, in line with the main theme of this edition "Growing in a changing world: the new equation of the retail market". Over 2000 participants including over 700 retailers, restaurant chains and leisure operators.

Milan, 05/23/2024 – A great success in terms of numbers and participants for the 8th edition of MAPIC Italy , which confirms itself as the most important business platform dedicated to players in the commercial and retail real estate market in Italy.

Over 2000 delegates , coming from 25 countries , (+5% compared to the previous edition) of which over 700 including retailers, restaurant chains and leisure operators met at Superstudio Maxi on 22 and 23 May, confirming a sector alive and dynamic.

THE MAIN TOPICS OF MAPIC Italy 2024

Numerous topics were debated at the center of this edition which aimed to  respond to the profound transformation that the commercial real estate market and retail industry are facing : from the change in consumer expectations and behaviors , concerns about the consequences of climate change, as well as the ever-increasing emergence of artificial intelligence and the need for technologically and financially sustainable solutions.

Overview of the Italian commercial real estate market in 2024

After a difficult 2023 for all asset classes, 2024 began with more positive expectations, mainly linked to the expected cut in interest rates by the ECB in the current year. The perception of the Italian commercial real estate market by international investors is however rather positive: a market with solid fundamentals, low vacancy and rather encouraging data on center attendance.

International investors are therefore looking with interest at the retail asset class on the Italian market, mainly in the value-added segment. The criticality of the market remains linked to the rigidity in the provision of credit, which currently blocks the growth potential of the market. It is therefore important to educate banks, especially the smaller ones, on the reliability of Retail Real Estate.

An increasingly crucial element in investment decisions is sustainability and the net reduction of carbon emissions. ESG criteria are becoming increasingly crucial and require significant investments to maintain or increase the value of the asset. “This transition to more sustainable assets requires clear strategies and substantial financing. Collaboration between banks and public authorities is essential to achieve sustainability objectives.” says   Joanna Fisher, CEO Ece Marketplaces, who underlines the importance of collaboration between market players and political institutions to manage the transformation of the retail real estate sector and accompany its transition towards a more sustainable future, just as the presence of the retail real estate sector is fundamental in Brussels to influence European policies.

New development projects: urban regeneration and mixed-use

And precisely with a view to sustainability and positive environmental and social impact, new mixed use projects intended and conceived as a real tool for urban recovery and regeneration are increasingly establishing themselves in the commercial real estate market in Italy.
The urban regeneration projects presented during the event were diverse and extremely innovative.

Massimo Moretti, General Manager of CDS Holding, presenting the Waterfront di Levante real estate and commercial real estate project in Genoa, explains how "recovery and redevelopment is a responsibility for the retail real estate sector " There are many abandoned areas in Italy and they open up enormous opportunities. The shopping center sector has an opportunity and a responsibility because it knows how to develop. Creating shopping centers is difficult, so we can tackle development with our skills, without leaving it only to large investors."

The Levante Waterfront project, conceived by Renzo Piano, involves the creation of a new island and an urban park, with various structures: exhibition pavilion, residences, 5-star hotel, shopping center and sports hall.
A private investment of 400 million euros and a public investment of 150 million, supported by partners and banks, which underlines the importance of public-private collaboration and the innovative role of the project in the Italian context.

Among the other regeneration projects presented at MAPIC Italy, the Waltherpark , an elegant High Street Gallery located in the historic center of Bolzano, presented by Heinz Peter Hager . A multifunctional urban regeneration resulting from a recovery in the center of Bolzano, which includes: 31,000 m2 shopping centre, hotel, 110 apartments, public and private offices, car parks, tunnels, cycle paths and parks. Also in Bolzano, the Ponte Roma neighborhood

is being developed , a new neighborhood of six hectares with 1000 apartments (ownership and rental), subsidized and subsidized housing, multi-generational homes and a student residence for 500 places, as well as offices, neighborhood services and silos for car. “A project that aims to connect and redevelop areas with social degradation, - explains Heinz Peter Hager - “The projects presented demonstrate a commitment to urban regeneration, with a focus on commerce, residentiality and integrated services, in addition to the importance of collaboration between the public and private and the adoption of innovative solutions to meet the modern needs of living, working and living in cities" Stefano Pagliani, Director Living of Hines Italy RE presented the redevelopment project of Ex Trotto, a neighborhood in the San Siro area of ​​Milan, underlining its social impact. The project will give new life to a degraded area of ​​the city with multipurpose recoveries.

Sonae Sierra instead presented the Chorus Life project in Bergamo : a smart city project, as explained by Josè Maria Robles, Director Property Manager Italy, Greece & Romania , which allows Build to rent apartments, a hotel, an arena, an area to coexist retail around 12,000m2 of GLA and the most important Urban SPA in Italy of over 8000m2.

New retail
The evolution of retail concepts and consumer expectations was also at the center of the conference programme. Today we are witnessing the affirmation of a new generation of retailers, who base their concepts on values ​​of responsibility and sustainability, with the lever of innovation and omnichannel as drivers to attract an increasingly informed, ethical and aware consumer.  

Francesco Riganti, Chief Marketing Officer of Mondadori explained: “The advent and digital evolution has exposed the retail paradigm to a great change, in which the role of the point of sale is no longer focused on the product, but on the experience that you live inside it. Today in the bookshop we cannot only recognize the functional and economic value, but also other forms of value such as: The social value of the bookshop, i.e. as an aggregator of relationships. The value of intellectual capital. A bookshop has a social responsibility to the extent that it contributes to creating thought, stimulating ideas and creating comparisons. And finally the value of psychological well-being, as emerged after the pandemic".

The story of Luciano Cimmino, President of Pianoforte Group , who shared with the public his long journey and his continuous challenges aimed at innovating the format and product, was extremely inspiring from a human point of view . From the beginning of the business as a sales agent, to the foundation of Original Marines and the expansion of the brand to make it a leading brand in Italy. "The story of Original Marines demonstrates how the retail channel can significantly strengthen a brand's strength among consumers, making it one of the most familiar brands in Italy."

Also important this year is the presence of international brands looking for partners for development on Italian soil: from Lululemon and Ale-Hop who are ready to open their first stores in Italy, to 11 Entertainment Group, Phenix Salon Suites, Wuerth , up to Anytime Fitness , the family gym, the number 1 fitness company in the world, which has opened approximately 5300 gyms in the last 20 years, with a growth of 1700 units in the last few years alone, embodying the trend of the strong development of the fitness sector in world level.

Towards sustainable and collaborative retail

Brands, owners, developers and investors today all agree in recognizing sustainability as an essential value and a key element of the new way of doing business. New retail puts people and the planet first by using innovation and increasingly sophisticated technologies to reduce the environmental impact of brands and properties, thus making them more attractive, more easily financed and ultimately attractive for the new consumer who is profiling.

Several technological players presented the most recent solutions adopted to reduce the environmental impacts of brands and real estate assets: from Ionity to Fastway and Electrip Global regarding fast and ultra-fast charging infrastructures for electric cars, up to ESG compliant proposals of A2A Energy solutions , R2M Solution and Senec Italia for the implementation of photovoltaic and renewable energy.

Property companies and brands must operate today in a context of new and rigorous regulations with customers and investors increasingly attentive and informed regarding environmental and social impact. In this context, more and more companies are choosing to become benefit corporations (or B-Corps), combining traditional profit objectives with measurable goals of a positive impact on society and the environment.

Benefit corporations offer several advantages, including improved reputation, being perceived as ethical and responsible, and a competitive advantage through differentiation from competitors. They attract and retain talent motivated by shared values ​​and arouse the interest of responsible investors, facilitating access to capital. Additionally, they build strong relationships with consumers through customer loyalty and can benefit from tax incentives and recognition. These overall advantages demonstrate how the adoption of a responsible approach today has a concrete impact on the business and performance of companies that adopt these strategies compared to competitors that remain anchored to more traditional models.

The sustainability of the new retail paradigm cannot be complete if it is not increasingly directed towards an open and collaborative approach between tenants and landlords.

Roberto Zoia, President of the CNCC stated that "For years the CNCC has been engaged in a dialogue aimed at promoting an increasingly fluid relationship between tenant and landlord and capable of grasping the requests and needs of both parties in order to grow together in economic and business terms but also of mutual transparency. The shopping center format continues to be valid and important for the development of brands, confirming the still primary role of physical retail in consumer purchases, which is supported by the potential of online but certainly not replaced. There is an ever-increasing awareness of the need for collaboration between landlords and tenants to make malls increasingly interesting and useful destinations for the end customer, as well as pleasant to visit. It will therefore be essential to increasingly pool the data and information collected on customer behavior and purchasing habits, to create strategies that make shopping centers not only points of reference for shopping, but also for leisure and other ever-changing needs of the consumer".

Innovation and Artificial Intelligence: the new market variables
Among the great news of this edition of MAPIC Italy, the focus on the development of artificial intelligence in the retail sector.
In a context of continuous and constant evolution, the integration of artificial intelligence into the traditional operational processes of the sector is today starting to play a fundamental role, influencing every single element of the retailers' value chain: from the creation of the product to the collection of data to return and build a super customized experience for the customer. AI, based on all the information and data that users leave online and in physical spaces, allows us to anticipate their needs and personalize the experience.
Great advantages in the application of AI are also starting to be visible in the operational processes of Property Companies. 

Letizia Cantini, General Manager of Svicom spa Società Benefit says "We have implemented our management systems with artificial intelligence, asking ourselves how this can intervene in the control of operations in the property, as well as being implemented to reduce waste and optimize flows”.

About RX 

RX is a global leader in events and exhibitions, leveraging industry expertise, data, and technology to build businesses for individuals, communities, and organisations. With a presence in 25 countries across 42 industry sectors, RX hosts approximately 350 events annually. RX is committed to creating an inclusive work environment for all our people. RX empowers businesses to thrive by leveraging data-driven insights and digital solutions. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, visit www.rxglobal.com. 

About RELX 

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 36,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. *Note: Current market capitalisation can be found at http://www.relx.com/investors