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Shopping Centers in 2006.
24 Jan, 2007, BRUSSELS
OVERVIEW
In comparison with other countries in western Europe, Belgium proportionally inherited quite modest a shopping center culture. Existing shopping centers such as Wijnegem, Woluwe, Waasland, and the Grands Prés still meet the same success. Prime rents passed the symbolic fence of 1200€/sq.m./year for the first time. Wijnegem is slowly pushing Woluwe off its pedestal, registering higher prime rents for the first time (see graphic here below). The most important opening in the sector for the year 2006 was the neighborhood shopping center “Den Tir” in Antwerp (see picture), Kiel, Multi Development’s first shopping center project in Belgium (about 12.000 sq.m.). The Waasland was awarded by the ICSC after the completion of its extension, and the Feest en Kultuurpaleis in Oostende was fully let six months before its very opening. Claire’s have signed a lease for the last unit available, joining other majors brands such as Vero Moda/Jack & Jones, H&M, Esprit, River Woods, Swarovski, Bigor, Appel’s, L’Occitane, Belcompany, Apple Center, ICI Paris XL, Banana Moon, and Citybloem. The letting of other city center developments such as Stadsfeestzaal in Antwerp, and the new Foruminvest projects (Shopping Sint-Jan in Kortrijk and “Au fil de l’eau” in Verviers, each of them being ± 32.000 sq.m.), has been launched, and is currently still going on.
MAJOR SC FACTS
- The opening of the Feest en Kultuurpaleis in Oostende is foreseen in early April 2007.
- The Stadsfeestzaal in Antwerp will be reinstated in its original look. The shopping will open in September 2007. Anchor tenants are: Media-Saturn, Urban Outfitters, Delhaize, and Casa. The Stadsfeestzaal connects the Meir with the Hopland.
IN THE PIPELINE (Luxemburg)
- Lallange, a project of Cactus (a private Luxemburgish firm) has been planned. The opening of this ± 28.500 sq.m. shopping center in the North of Esch/Alzette is foreseen in the end of the year 2009.
- Wickrange is an ING project. The opening of this ± 40.000 sq.m. shopping center between Esch/Alzette and Foetz is foreseen in 2010.
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