TOM 12 2023

Page 2
The pan-European real estate
investment and development
company Eurofund Group
and the London-based private
equity firm Signal Capital
Partners confirm that CBRE
Retail Consulting will take
over the marketing and management
of the Rhein-Ruhr-
Zentrum (RRZ) in Mülheim
at the beginning of 2024.
CBRE Retail Consulting, based
in Düsseldorf, specializes
in leasing, consulting and management
of shopping centers
and retail parks and has more
than 30 years of experience in
this field. In September, the global
real estate services provider
CBRE acquired Prime Consulting
from CEO and owner Alastair
Green, who in turn is expanding
its consulting services
for the retail sector in Germany
with the takeover.
The Eurofund Group and
CBRE have already worked together
successfully on the Puerto
Venecia project in Spain and
the UBBO project in Portugal.
The 206,000 square meter Puerto
Venecia project opened in
2012, marked the birth of the
shopping resort concept and
now attracts over 20 million
visitors annually. The Eurofund
Group has also pursued
the same concept in the transformation
of UBBO Lisbon,
which has established itself as
one of the city‘s leading centers
and recently broke through the
20 million visitor barrier. With
the Rhein-Ruhr-Zentrum, Eurofund
Group, Signal and CBRE
will bring the shopping resort
concept to Germany, combining
the best of retail with a
comfortable public space and
leisure activities for the whole
family.
NEWS
CBRE takes over management
of the Rhein-Ruhr-Zentrum
The partners are implementing a shopping resort concept in Mülheim
CBRE will manage the Mülheim Rhein-Ruhr-Zentrum in the future.
Visualization: Eurofund
Ian Sandford, President of Eurofund
Group: „We are delighted
to have selected CBRE as a
strong strategic partner for this
project, who will support us in
realizing our vision of transforming
the Rhein-Ruhr-Zentrum
in Mülheim back into a regionally
significant and innovative
district center. We will be working
with one of the most experienced
retail specialists in the
whole of Germany, led by Alastair
Green with over 20 years
of retail experience and a team
of 50 retail experts. As well as
building on our strong relationships
with existing tenants, our
joint aim is to attract new partners
to the building and offer an
attractive and innovative mix of
retail, food and leisure.“
December 2023
Ifo does not yet see a
decline in inflation
According to the economic research
institute Ifo, the easing of
consumer prices is likely to stall
for the time being. The proportion
of companies in Germany
that want to raise their prices in
the coming months is increasing
again, the Munich-based researchers
announced this morning.
Ifo price expectations rose to 19.7
points in December from 18.1
points in November. Expectations
had reached a temporary low
in August with a balance of 14.5
points.
The experts expect more price
increases in consumer-related
service sectors. „Restaurateurs in
particular want to increase prices
noticeably“, the institute reported.
In this area, the balance rose
from 45.9 to 87.6 points.
Deutsche Konsum:
FFO significantly below
the previous year
Deutsche Konsum REIT-AG recently
published its final and audited
figures for the past financial
year 2022/2023: Rental income
increased by 7% to 79.7 million
euros, while rental income rose
slightly by 1.8% to 48.3 million.
Further facts: FFO decreased to
EUR 33.1 million due to interest /
FFO per share is EUR 0.66 (fully
diluted). The real estate portfolio
has a balance sheet value of EUR
1.0 billion.
URW opts for green electricity at Ruhr Park
Germany‘s largest photovoltaic system on the roof of a shopping center
Together with Stadtwerke Bochum,
Ruhr Park is taking a
major step towards sustainability:
by spring next year, the
Bochum-based energy supplier
will install a photovoltaic
system on the roof of Ruhr
Park. With over 3,600 modules
and an annual electricity
yield of over 1.4 million kilowatt
hours, this will be Germany‘s
largest photovoltaic
system on the roof of a shopping
center.
The project underlines the fact
that the retail and leisure destination
takes its corporate responsibility
in the city and region
seriously and is expanding
and strengthening strategic partnerships
with local companies
Ruhr Park Bochum is getting a large photovoltaic system.
Photo: URW
and organizations. The state-ofthe-art
system is an important
milestone on the way to achieving
the medium and long-term
goals of Ruhr Park‘s operator
and owner, Unibail-Rodamco-Westfield:
to reduce CO2
emissions along the entire value
chain by 50 percent by 2030 and
by 90 percent by 2050 compared
to 2015. The first work on
the plant has lready begun and it
is scheduled to go into operation
in April 2024. The photovoltaic
system, which consists of a total
of 3626 modules, will then
generate around 1,434,000 kilowatt
hours of green electricity
per year. This is roughly equivalent
to the electricity consumption
of 410 single-family homes.
T643,000 kilowatt hours from
the plant will cover 44.8 percent
of the total electricity consumption
of the public areas of Ruhr
Park. Lars Horn, Center Manager
at Ruhr Park, says: „Making
renewable energy usable for our
shopping center is an important
step in our sustainability concept.
The plant is not only a sign
of the ecological responsibility
that we are assuming locally,
but also offers direct economic
benefits because it has a positive
impact on energy purchasing.“