TOP RETAIL DEVELOPERS: Ikea’s Moscow mall tops retail pipeline

Mega Mytischi in Moscow is the largest shopping centre project in the retail development pipeline, according to PropertyEU’s latest survey of Top Retail Developers in Europe.

The 215,000 m2 centre is being developed by Swedish group Ikea Centres and is scheduled for completion in 2018. Ikea has another major development in the top 10: the Inter Ikea Centre in the Spanish town of Alicante which is due for completion in 2020.

Ikea Centres ranked second in our Top Retail Developers ranking this year after German stalwart ECE Development which bagged the top spot for the second year running thanks to a string of recent completions including Milaneo in Stuttgart and an extension at Maltepe Park in Istanbul.

Meanwhile Europe’s leading listed real estate company Unibail-Rodamco retained its third position
in our ranking despite the fact that it did not deliver any new projects in 2014 and a 40% decline in the total volume of completed projects between 2012 and 2014 to 337,000 m2 year-on-year.

The figures for the ranking are based on completed projects between 2012 and 2014 and data collected by PropertyEU Research in conjunction with ICSC on behalf of the European Retail Atlas.

The full ranking is as follows:
1. Mega Mytischi, Moscow; 215,000 m2; Developer: Ikea Centres; Delivery date: 2018
2. Westfield Milan; 185,000 m2; Developer: Westfield; Delivery date: 2015-2020
3. St. James Quarter, Edinburgh; 160,000 m2; Developer: TH Real Estate; McArthurGlen; Delivery date: 2018
4. The Croydon Partnership, Croydon; 154,144 m2; Developer: Hammerson/Westfield; Delivery date: 2015-2020
5. Emaar Square Istanbul; 150,000 m2; Developer: Emaar Properties ; Delivery date: 2015
6.TPS Slavyanski Boulevard Moscow 140,000 m2; Developer: Metta; Delivery date: 2015
7.Columbus Moscow; 136,000 m2; Developer: MIRS; Delivery date: 2015
8. Respublika Kiev; 135,000 m2; Developer: KAN Development; Delivery date: 2015
9.Ikea centre, Alicante; 122,000 m2; Developer: Ikea Centres; Delivery date: 2015-2020
10. Forum Antalya, Antalya; 120,000 m2; Developer: Multi Corporation; Delivery date: 2015