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 20<strong>12</strong>, 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 <strong>2023</strong> 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/<strong>2023</strong>: 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.“
Page 3 TOP STATEMENT OF THE MONTH December <strong>2023</strong> TOP STATEMENT December „Energy subsidies help to remedy urban development problems. It doesn‘t get any better than that.“ Architect Michael Maas (Mass & Partner) in an interview with Immobilien Zeitung, Germany
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