1. Chabot and Associates, a division of Shops & Retail
MARKET SURVEY
INTRODUCTION

2. Chabot and Associates, a division of Shops & Retail
1. LARRY SMITH METHODOLOGY OVERVIEW
2.MARKET SURVEY STEPS
3. PAST PROJECTS
4. REFERENCES
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TABLE OF CONTENT

3. Chabot and Associates, a division of Shops & Retail
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1. LARRY SMITH METHODOLOGY
OVERVIEW

4. Chabot and Associates, a division of Shops & Retail
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- Method developed in 1940 by Mr. Larry Smith (U.S.
economist) to conduct feasibility studies for retail
developments from large area stores to shopping malls
worldwide.
- Internationally approved since 1940 and applied on over
5,000 market studies worldwide in over 55 countries.
- Based on analysis of National accounts and detailed
Consumption Expenditure Surveys from any country.
BACKGROUND
ADVANTAGES
- The Larry Smith methodology can be applied to any
country, catchment area or large retail project. P. de Chabot,
manager of Larry Smith Consulting-Paris until 1994, still
uses this reputed and efficient method.

5. Chabot and Associates, a division of Shops & Retail
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DELIVERABLES:
• Site analysis & environment
• Main Competition evaluation
• Precise catchment area
• Local Population and Average Income/capita
• Expenditures habits in the catchment area
• Forecast of potential sales of the project
• Justified size of a shopping mall
• Forecast of potential revenues of the asset

6. Chabot and Associates, a division of Shops & Retail
1-RETAIL STRATEGY STUDIES FOR YOUR DEVELOPMENTS
• Our “Quick-Look-See” Formula allows us to give you our field expertise concerning
effectiveness of your site, its very preliminary justified program and rental possibilities
with a limited tariff,
• Qualitative and quantitative market analysis of a given site looking for and selecting the
best sites in different regions and cities following retained criteria,
• Detailed examination of existing and planned competition together with evaluation of their
qualitative and quantitative strength,
• Determination of the best strategic location and relative market shares classified following
your retained priorities,
• Selection of strategic sites and their potential market shares classified following optimized
characteristics.
Specific Knowledge and Expertise for your International Developments :
May 2015

7. Chabot and Associates, a division of Shops & Retail
2-FEASIBILITY AND MARKET SURVEYS OF RETAIL PROJECTS
• Research or updating basic data from National Accounts or local
statistical offices in case of an abroad mission.
• Feasibility survey of any retail project with detailed analysis of field
competition. Available sales potential estimates for your project(s)
depending on justified anchor tenants.
• Justification of an optimized recommended program based on our 41
years experience concerning specific needs of main Large Area Store
brands (Global or local) available for them to become Main or
Secondary Anchor tenants of your project(s).
.
Specific Knowledge and Expertise for your International Developments :
May 2015

8. Chabot and Associates, a division of Shops & Retail
3 - CONCEPT, MERCHANDISING AND RENTAL GRID
DEFINITIONS
• We enhance concept with tight partnership with the most reputed
specialized architects, optimizing retail and common areas to generate
maximum pedestrian & turnover flows.
• We define appropriate shape design of each unit to enhance turnovers
as well as visibility based on their specific needs and activity, thanks to
our long experience and knowledge of Large Area stores characteristics.
• We outline each shop to maximise average rental level of the project
together with optimization of the rental grid (Minimum guaranteed
and/or percentage rents on turnovers).
• We can also define your cash-flow needs, profitability and end value for
the final investor based on your construction budget following our
justified program, key of long lasting success.
Specific Knowledge and Expertise for your International Developments :
May 2015

9. Chabot and Associates, a division of Shops & Retail
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2. MARKET SURVEY STEPS

10. Chabot and Associates, a division of Shops & Retail
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MARKET
SURVEY
STEPS :
1. BASIC
DATA
COLLECTION
2. SITE &
ACCESS
3. COMPETITION
ANALYSIS
4. CATCHMENT
AREA
5.
POPULATION
6. AVERAGE
INCOMES &
EXPENDITURES
7. TOTAL
SALES
POTENTIAL
8.
MARKET
SHARES
9. JUSTIFIED
RETAIL
AREAS
LARRY SMITH METHODOLOGY STEPS

11. Chabot and Associates, a division of Shops & Retail
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1. Data Managing
Research or updating basic data from National Accounts or
National Statistical Office.
2. Site Study Sharp Qualitative and quantitative fieldwork analysis of
your SITE, its accesses and surroundings.
3. Competition
Analysis
Detailed analysis of field competition, its strength &
weaknesses.
4. Catchment Area
Definition
Definition of a long term protectable Catchment area
5. Sales Potential
Estimates
6. Recommended
Program Justification
Estimates of Available Sales potential for your project.
Optimized recommended program by dividing available sales
potential by productivities/achieved in strong modern malls.
A STRONG MARKET RESEARCH CONSISTS OF 6 ELEMENTS:

12. Chabot and Associates, a division of Shops & Retail
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Market Survey –
Recommended Program Sample
Justified Program and Recommended Areas
Rentable Areas
G.L.A.*
(sq.m)
%
Including
MSU
(sq.m)
Hypermarket (9,000 sq.m Sales Areas) 12,500 28.0 -
Food (3,800 sq.m sales) 6,000
Non Food (5,200 sq.m sales ) 6,500
8,250
Delicatessen 500 1.1 -
House Hardware / Garden (Handyman type) 1,750 3.9 1,750
Pharmacy- Health 1,000 2.2
Parapharmacy & Perfumes 500 500
Pharmacy & Clinic, Glasses, Optics, Health 500
Apparel 5,500 12.3
Fashion Clothing MSU (X1) 2,500 5.6 2,500
Fashion Shops (X20) 3,000 6.7
Home Equipment 1,800 4.0
Home Decoration MSU (X 2) 1,200 2.7 1,200
Shops (X 5) 600 1.3
Other Comparative 7,000 15.7
Specialized MSU (X4 or 5) 2,500 5.6 2,500
Shops 4,500 10.1
Restauration 7,600 17.0
A1 Building 7,480 16.8 7,480
A2 Building 120 0.3
Services 1,000 2.2
Merchant Services
(Laundry, reparation, hairdresser…)
500 1.1
Non Merchant Services
(Banks, Real estate agency, medical center…)
500 1.1
Leisure Areas
(Games, Kid's Care, etc)
5,978 13.4 5,978
Total GLA * Areas 44,628 100
Including Anchor Tenants 12,500 28.0
Including Specialized MSU 20,158 45.2 20,158
Including Shops 11,970 26.8
A2 Building 18,550
* Including sale, reservesand private technical areas, but excluding common areas.
Retail Categories

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3. PAST AND STILL
SUCCESSFUL PROJECTS

14. Chabot and Associates, a division of Shops & Retail
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LOCATION:
Located in Aulnay-sous-Bois, Paris region
(France), O'Parinor Mall (Formerly called
Parinor) is today among the 5 largest malls in
Paris Region.
OVERVIEW:
Opened in 1974 on about 30,000 m² GLA,
O’Parinor was not doing well. It has been
successfully refurbished and extended 3
times. It reaches today near 120,000 sq.m
GLA.
O’ PARINOR REGIONAL
MALL

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WHAT HAS BEEN DONE :
Between 1982 and 1994, as part of the Larry Smith
Consulting-Paris team, Patrice de Chabot undertook for
The Wereldhave group, owner of Parinor at the time, all
economic, public opinion, concept & merchandising,
rent roll, updating and refurbishment surveys that
completely changed this local simple hypermarket
anchored gallery.
Today it is a real successful two level Regional Mall
(Near 120,000 sq.m GLA) anchored by a strong 28,600
sq.m GLA Carrefour hypermarket and a large Do-It-
Yourself Castorama (12,780 sq.m GLA).
O’ PARINOR REGIONAL
MALL

16. Chabot and Associates, a division of Shops & Retail
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Existing Areas New Recommended Areas TOTAL
Categories sq.m GLA % sq.m GLA % sq.m GLA %
Food 733.0 1.0% 67 0.4% 800 0.8%
including Shops 733.0 67 800
Pharmacy 341.9 0.4% 0 0.0% 342 0.4%
including Shops 341.9 0 342
Do-It-Yourself 13,080.0 17.1% 0 0.0% 13,080 13.7%
including Middle Size Units 12,780.0 97.7% 0 12,780 97.7%
Shops 300.0 2.3% 0 300 2.3%
Large Area Store 28,623.0 37.4% 0 0.0% 28,623 30.0%
Apparel 10,407.2 13.6% 3,438 18.0% 13,845 14.5%
including Middle Size Units 2,620.0 25.2% 3,225 5,845 42.2%
Shops 7,787.2 74.8% 213 8,000 57.8%
Furnitures & Appliances 6,685.3 8.7% 775 4.1% 7,460 7.8%
including Middle Size Units 6,421.9 96.1% 738 7,160 96.0%
Shops 263.4 3.9% 37 300 4.0%
Other Comparison Goods 9,463.4 12.4% 9,192 48.2% 18,655 19.5%
including Middle Size Units 4,873.0 51.5% 5,640 10,513 56.4%
Shops 4,590.4 48.5% 3,552 8,142 43.6%
Services 1,993.3 2.6% -793 -4.2% 1,200 1.3%
Restauration 4,126.4 5.4% 774 4.1% 4,900 5.1%
Leisure 986.1 1.3% 5,609 29.4% 6,595 6.9%
TOTAL GALLERY 76,439.6 100.0% 19,060 100.0% 95,500 100.0%
Outside Units** 1,667.0 0 1,667
TOTAL CENTRE 78,106.6 sq.m 19,060 sq.m 97,167 sq.m
* Carrefour Hypermarket
** = Auto-Center, Bicycles Carrefour, Petrol Station et Car Wash Station
O'PARINOR - AULNAY SOUS BOIS - SHOPPING CENTRE
EXISTING AND RECOMMENDED AREAS
WHAT HAS BEEN DONE:
• Market Surveys
• Refurbishment survey
• New Retail Concept
• New Merchandising Mix
• Rent Roll
O’ PARINOR REGIONAL
MALL

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O’ PARINOR REGIONAL
MALL
CURRENT:
It benefits today from 12 million visitors per year in its
210 shops, 30 restaurants and 14 cinemas. O'Parinor
offers 5,200 free parking lots on 2 levels with a very
simple diode lighting system showing available places.
Main brands are Carrefour, ZARA, Primark, Adidas,
Footlocker, Minelli, Bershka, The Body shop, Go
Sport, FNAC, Darty.

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LOCATION: ETILER - ISTANBUL, TURKEY
OVERVIEW:
Akmerkez shopping centre (34,680 sq.m GLA)
opened in 1993 in Etiler sector, the very City
Centre of Istanbul, still is the most reputed mall in
Turkey.
Built on 5 shopping levels on a difficult triangle
shape, it has been awarded as “Best shopping mall
of the Year in 1994 and of the world” for its
design in 1995 by International Council of
Shopping Centres (ICSC).
Akmerkez is still the only mall in the world
having received both awards.
AKMERKEZ SHOPPING CENTER

19. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE :
As manager of Larry Smith Consulting-Paris Office,
Patrice de Chabot participated to all surveys, economic,
retail & merchandising concept and rent roll.
Since its grand opening, Akmerkez remains the most
successful and profitable mall of Turkey.
AKMERKEZ SHOPPING CENTER

20. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE:
• Market Survey
• Retail Concept Plans
• Merchandising Mix
• Rent Roll
AKMERKEZ SHOPPING CENTER

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WHAT HAS BEEN DONE:
Economic Survey, Retail & Merchandising Concept, Rent Roll
AKMERKEZ SHOPPING CENTER

22. Chabot and Associates, a division of Shops & Retail
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CURRENT:
24 million persons have visited the 246 shops of Akmerkez in 2014. Since its opening, the
Baymen Department Store (4.794 sq.m GLA) remains its anchor tenant. Notice that fifth
floor is fully devoted to a very successful F & B zone.
Main brands in Akmerkez are : Adidas, Benetton, Bisse, Cacharel, Calvin Klein,
Calzedonia, ADV, Tween, Diesel, Lacoste, Mavi, Jeans, Network, Ramsey, Nike, Puma,
Sarar, Zara, Mango, Oxxo, Roman, Stefanel, Tommy Hilfiger, GAP, Vakko, ZEN
Diamond, Swatch.
AKMERKEZ SHOPPING CENTER

23. Chabot and Associates, a division of Shops & Retail
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CITY STARS-NASR CITY
LOCATION:
Cairo (Nasr City-Heliopolis) – Egypt.
Today's true new city centre of Nasr City. Mall is
part of a 750,000 sq.m GFA program including City
Stars Mall, Luxury Hotels, High-end Housing and
Office space.
OVERVIEW:
Largest shopping mall of the whole of Arabic world
at the time of its opening with 643 shops on 6 levels
and 175,000 sq.m GLA including its famous Khan
El Khalili and Gold Souk (20,000 sq.m GLA).

24. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE:
Patrice de Chabot participated to all
surveys, economic, retail concept,
merchandising plan, rental survey since
the beginning of the project for Sheikh
Abdulrahman Sharbatly, President and
founder of the Stars Group. .
CITY STARS-NASR CITY

25. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN
DONE:
• Market Survey
• Concept plan
• Merchandising
• Rent Roll
CITY STARS-NASR CITY

26. Chabot and Associates, a division of Shops & Retail
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CURRENT:
Still fully let and having good results even during the
recent difficult years.
Food court - Amusement centre - Restaurants -
Cinema complex - Parking - Banks - CompuMe -
Radio Shack - Tradeline – Sony - Virgin Megastore -
H&M - Marks & Spencer - New Look - Zara - BTM -
Cellini – Concrete - Etam Lingerie - Gerry Weber -
Paul & Shark - Triumph - Women’s Secret - Fortune
– Starbucks - Du Pareil-au-Même -Mont Blanc, etc.
CITY STARS-NASR CITY

27. Chabot and Associates, a division of Shops & Retail
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PITER RADUGA
LOCATION: Saint Petersburg, Russian Federation
OVERVIEW:
Opened in 2007 in Saint Petersburg (Russian
Federation), PITER RADUGA SHOPPING MALL
has over 150 shops on near 91,300 sq.m GLA with a
strong REAL (German Metro Group) hypermarket
(20,000 sq.m GLA) and a large Do-It-Yourself OBI
on 18,000 sq.m GLA as main anchor tenants well
served by 3,000 free parking lots.

28. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE:
Patrice de Chabot participated to all economic, retail & merchandising concept, rental surveys
since the beginning for French VINCI Construction Group.
PITER RADUGA

29. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE:
Patrice de Chabot participated to all
economic, retail & merchandising
concept, rental surveys since the
beginning for French VINCI
Construction Group.
PITER RADUGA

30. Chabot and Associates, a division of Shops & Retail
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CURRENT:
Main Brands are Media Markt (Appliances &
Electronics), Kinostar Delux (I Max screens) of 13 halls
(5,100 sq.m GLA), Sportsmaster, Adidas, L’Occitane,
Zarina, Riviera, Apple, etc.
Today, with a customer flow of over 12 million people a
year, it is one of the most successful malls in St.
Petersburg.
PITER RADUGA

31. Chabot and Associates, a division of Shops & Retail
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MANUFAKTURA SHOPPING MALL
LOCATION: Lodz, Poland
OVERVIEW:
Opened in May 2006, Manufaktura Mall has been
built on the site of a former factory with obligation of
keeping most of existing classified buildings on 27
hectares of land.
It comprises about 120,000 sq.m GLA with 300 shops
on two levels, plus offices, hotels, etc, located near
old City centre of Lodz that it purely replaced…
Its anchor tenant is a 20,000 sq.m GLA Hypermarket
of the REAL brand and served by 3,000 free parking
lots.

32. Chabot and Associates, a division of Shops & Retail
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WHAT HAS BEEN DONE:
Patrice de Chabot participated to
retail concept, merchandising
plan, rental survey for Maurice
Bansay, President and founder of
the ABSYS Group.
MANUFAKTURA SHOPPING MALL

33. Chabot and Associates, a division of Shops & Retail
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CURRENT:
Main Brands are : Adidas, Bershka, C & A, H & M,
Camaïeu, Go Sport, Hugo Boss, Intersport, KFC,
L’Occitane, Lee Cooper, Mango, Massimo Dutti,
Nike, Pierre Cardin, Pizza Hut, Promod, United
Colours of Benetton, Yves Rocher, Zara, etc.
Cinema City (8,000 sq.m GLA), Fitness, Bowling,
Night club, Museum, etc
+ Do-It-Yourself Large area store Leroy Merlin
(6,000 sq.m GLA).
MANUFAKTURA SHOPPING MALL

34. Chabot and Associates, a division of Shops & Retail
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4. REFERENCES

35. Chabot and Associates, a division of Shops & Retail
Retailers:
• Aubert
• BHV
• Boot’s (GB)
• Boulanger
• Bricorama
• Brummel
• Carrefour
• Castorama
• Comptoirs Modernes
• Codec
• Conforama
• Décathlon
• Docks de France
• Eram
• Euromarché
• Félix Potin
• Flunch
• Fnac
• Galeries Anspach (B)
• Galeries Lafayette
• Garoschi (I)
• Globus (CH)
• Go Sport
• Goulet Turpin
• Grande Récré (La)
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REFERENCES - May 2015
• Guyenne & Gascogne
• Habitat
• Ikea (S)
• Inno France
• Interio (CH)
• Intermarché
• Jumbo(CH)
• La Ruche Méridionale
• Leclerc
• Mark’s & Spencer (GB)
• Maxauto
• Monoprix
• Montlaur
• Nordman (CH)
• Nouvelles Galeries
• Pier Import
• Placette (CH)
• Printemps
• Prisunic
• Proxim
• Radar
• Rallye
• Record
• Rheinbrücke (CH)
• Samadoc
• Sarma (B)
• Système U
• Toys R’Us (US)
• UGC Ciné Cité
Urban Renewals &
New Towns- France
Centre 2 - St. Etienne
Cergy Pontoise
Défense (la)
Dunkerque
Evry
Havre (le)
Lille-Est
Marne-la-Vallée
Melun-Sénart
Part Dieu (la) – Lyon
Polygone - Montpellier
Saint-Quentin-en-Yvelines
Toulon
Vesoul
Villeneuve d ‘Ascq
Vitrolles
International New Towns
Beyrouth (Lebanon)
Bristol (UK)
Glasgow (UK)
Nasr City (Egypt)

36. Chabot and Associates, a division of Shops & Retail
REFERENCES : Developers
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• Acrecrest
• Ak Merkez
• Al Futtaim
• Amco
• Apsys
• Aric
• Arlaud Group
• Atemi
• Bati Ticaret Merkezi
• Beg
• Bouygues
• Boz
• Capri
• Campenon - Bernard
• Cefic
• CFI
• Chesterfield Ronson
• Cirmad
• Codic
• Chourgnoz
• Cible Centre Commerciaux
• Cogedim
• Diar El Madina
• Dodder Belgique
• Elbyn
• Epad
• Epams
• Epamarne
• Epevry
• Espace Expansion
• Esprit International
• Eurofrance
• Eurotunnel Development
• Finaménagement
• Gariu
• Gefic
• G3i
• Gerec
• Gestec
• G.H.C.M.
• Golden Pyramids Plaza
• GRC
• GRC-Lyon
• Hammerson
• Immobilière Carrefour
• I.N.G.
• Interstar
• KMK Tunis - Tunisie
• Mab
• Mackenzie Hill
• Majid Al Futtaim
• Mam
• Marocaine de Grande
Distribution
• Manila Resort Bay
• Maus Frères
• Mehri Group
• Metropolis
• MRCB
• Nationale Nederlanden
• Nordin
• Occ - Wereldhave
• Saint Charles City Center
• Ocefi
• Ofim
• Paladin Management
• Parinor Foncier
• Pont Saint Pierre Investissement
• Prelude
• Red Group
• Sarh
• Sari
• SCC France
• SCC Belgique
• Schroders International Property
• Scogim
• Ségécé
• Serete Aménagement
• Seri
• Serl
• Smeci
• Socri
• Solidere
• Soltroia
• Soppec
• Sotraco
• Spgf
• Stim
• Tarinor
• The Rouse Company
• Trema
• Tractebel
• UBS
• Ucom
• Usines Center
• Vinci – Construction-GT
• Wilhelm & Co
• Zanotelli Group

37. Chabot and Associates, a division of Shops & Retail
REFERENCES :
Other Shopping Centres Completed (Main Ones)
France
Arcades de Noisy (les)
BAB 2 - Bayonne
Bercy 2
Bobigny 2
Bordeaux - Le Lac
Bordeaux -Mériadeck
Caen - Mondeville
Carré Sénart
Centre 2 - St Etienne
Centre Europe – Courghain
Créteil Soleil
Continent - Saint Brice
Dijon - Quétigny
Dijon - La Toison d'Or
Evry 2
Flanades (les) - Sarcelles
Galerie des Champs Elysées
Grand Place - Grenoble
Grigny 2
Hérouville St Clair - Carrefour
Horizon 2000 - Toulouse
Maisons Rouge - Strasbourg
Marseille - Barnéoud
Marseille - Bonneveine
Marseille - Centre Bourse
Marseille - Grand Littoral
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Marseille - Le Merlan
Marseille - Le Valentine
Mayol - Toulon
Nice - Cap 3000
Nice Lingostière
Nice TNL
Parinor - Aulnay/Bois
Parmain
Parly 2
Part Dieu (la) – Lyon
Passage du Havre
Persan
Plessis Pâté (le)
Polygone (le) - Montpellier
Rosny 2
Saint-Didier - Paris
Saint-Georges - Toulon
Saint-Sébastien - Nancy
Saint-Sever - Rouen
Toulouse - Blagnac
Toulouse - Labège
Toulouse - Carrefour Portet
Toulouse - St Georges
Trois Dauphins - Grenoble
Ulis 2
Valentine (la) - Marseille
Vélizy 2
Villeneuve 2
Villiers-en-Bière
Vitrolles - Carrefour
Yerres
International Projects
Chengdu – Sichuan - (P.R.C)
Changde – Hunan - (P.R.C)
Beijing Green Lake - (P.R.C)
Beijing Flower City Plaza - (P.R.C)
Beijing Dongba - (P.R.C)
Manila Bay Resort Mall– (Philippines)
Crystal Corridor– (Philippines)
Kiev (Ukraine)
Odessa (Ukraine)
Minsk (BelaRus)
Chişinău (Moldova)
Galaţi (Romania)
Bucharest (Romania)
Sotchi (Russian Federation),
Sousse (Tunisia),
Almaty (Kazakhstan),
El Boustane – (Algeria)
Bouskoura- Casablanca (Morocco)
Kwasa Damansara KL (Malaysia),
Wuhan, (P.R.C)
Nanjing, (P.R.C)
Etc.
Hotels
Sofitel,
Novotel,
Mercure,
Ibis,
Etc.
International
Belle-Isle en Liège (Belgium)
City 2 (Belgium)
Maasmechelen (Belgium)
Louvain la Neuve (Belgium)
Ak Merkez-Etiler Istanbul (Turkey)
Cassovia – Kosice (Slovakia)
Deira City Centre (Dubaï - UAE)
Danubia –Bratislava (Slovakia)
Orhideea – Bucharest (Romania)
Pieter Raduga (St Petersburg.- Russia)
Tom - Metropolis (Constantza-Romania)
Feeria (Bucharest – Romania)
Felicia (Iaşi – Romania)
City Stars (Cairo - Egypt)
Proxima - Vaslui (Romania), etc.

38. Chabot and Associates, a division of Shops & Retail
40 COUNTRIES INTERNATIONAL EXPERTISE
• Algeria Germany Malaysia Portugal Spain
• Belgium Greece Moldova P.R. of China Sweden
• Bahrain Hungary Monaco Romania Switzerland
• Bulgaria Iran Morocco Russian Fed. Tunisia
• Czech Rep. Italy Netherlands Saudi Arabia Turkey
• England Kazakhstan New Caledonia Scotland Ukraine
• Egypt Lebanon Philippines Singapore United Arab Emirates
• France Luxemburg Poland Slovakia United States
• Patrice de CHABOT
• CHABOT and Associates, a Division of I.C.S. Shops & Retail Srl.
• pdechabot@chabot-associates.com
• +336 08 95 39 82
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39. Chabot and Associates, a division of Shops & Retail
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