Retail Report - Project in Pipeline in Milan

2. GLA Break Down (%)
Break Down by
Opening Date
8%
Scalo Milano
8%
Cascina Merlata
44%
Westfield Milan
8%
Nuova Centrale
Mag. Raccordati
17%
Arese Shopping
Center
6%
Santa Giulia
6%
City Life
3%
Porta Nuova
Reag Retail Survey
S A M P L E F i L E S
A
new season lies ahead in the
development of commercial space
in the Milan metropolitan area. After
years in which it has come to a halt, now
we record new GLA on pipeline, both in the
urban context, as well as outside the core
area.
The outlook in Milan, as elsewhere in italy,
is the polarization of new developments.
Beside regional malls with a GLA of over
80,000 square meters, still rarely present
in italy, neighborhood malls and retail
schemes in downtown re-development
areas, with a growing attention to
entertainment and lifestyle.
The new attractors are now being sought in
the area of personal services: entertainment
and leisure, fitness, food, wellness and
health care. The key role of the large retail
schemes market changed dramatically:
nowadays the shopping centre is no longer
just a place to shop but also a meeting point
and a leisure centre. New retail schemes
have to provide a pleasant environment,
capable to attract a selective consumer,
increasingly demanding and with a wide
gamut of alternatives.
As far as Milan retail market is concerned,
the planned Arese Shopping Center and
WestfieldMilanwillbelargeregionalcenters,
built in the belt around the city center and
they will offer an innovative layout, based
on services and entertainment. The large
redevelopment projects in the inner city are
not only changing the skyline, but they are
creating new commercial hotspots such
as Square Gae Aulenti in Porta Nuova and
the future large shopping area of the new
district City Life, under construction on the
site once occupied by Fiera Milano
One of the most innovative initiatives
will take form within the “ex Magazzini
Raccordati” located below the beam of
the tracks of the Central Station. These
places, suitably redeveloped, will host,
as well as a shopping center, also spaces
for entertainment, culture, education, art,
music, sports and wellness.
Later this year the first phase of an
innovative format Factory Outlet Center the
“Scalo Milano”, which will be divided into
thematic areas focusing on food, the Design
and Fashion, will also be inaugurated near
Milan.
Between 2016-2018, however, the
perspective changes, especially with the
planned opening of two large Regional
Malls (Westfield Milan and Arese Shopping
Center) and a Medium Sized Shopping Mall
(Cascina Merlata) which make up 71% of
the total GLA that will be delivered in the
coming years.
Shopping mall in the pipeline in Milan

3. Anchors
Pipeline by Size
0-5,000
5,001-30,000
30,001-45,000
45,001-100,000
>100,000
(sqm)
Pipeline by Typology
Urban Shopping Mall
Medium Sized Shopping Mall
Regional Mall
innovative Mall
Factory Outlet Center
Gym and Wellness Village
Sport Arenas
Cultural/Educational Spaces
Art Galleries
Design Stores
Fashion Boutique
Food
Live Music/Concert Hall
Multiplex
Department Store
Entertainment Center
Supermarket Anchor
Hypermarket Anchor

4. © 2014 REAG Real Estate Advisory Group
All right Reserved
www.reag-aa.com
The present report covers some of the most
important retail locations in terms of structure
in Milan.
While all information is provided to the best of
our knowledge, we assume no liability for the
correctness of the information.