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How Merlin, Intu, Unibail and Redevco See the Future of Shopping Centres

Changes in use, rents, co-existence with online sales and a very different relationship with their tenants. Large retailers are evaluating the impact of the crisis on their businesses, albeit with optimism.

Retail has been one of the hardest-hit sectors by the pandemic. Months of confinement, mobility restrictions and the unstoppable growth of e-commerce have been the main reasons for the crisis in this sector.

Despite the uncertainty, the largest retailers are venturing to make predictions about how the sector will evolve in the short-term. Unibail-Rodamco-Westfield (URW), Intu, Merlin Properties and Redevco have indicated that 2022 will see the start of recovery and 2023 will see levels similar to those in 2019.

This is one of the main conclusions drawn by the firms during the online event ‘Shopping Centres & Retail’, organised by Grupo Vía. Gonzalo Senra, Retail Director at CBRE explained that for 2021, “we were very optimistic and expected a rapid recovery, but in the first quarter the scenario was worse than we had expected.”

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