CG malls europe - Commerz Real

an increase of three percent to 2008. Polls show that 59% of the customers of Forum
Montijo are young (under 34 years), and that many of these are families. Taking this into
account, the centre management has provided several free services such as an indoor
and an outdoor playground and a place where children can play with piles of Lego. The
food court makes microwaves available to families as well as feeding bottle heaters
and highchairs. In addition, the centre management set up the so-called Friendship
Recycling Centre, where visitors may donate clothes, shoes, toys, and other items to be
passed on to charity groups for children. This project won in 2008 an ICSC (International
Council of Shopping Centers) Silver Solal Award in the “Community Relations” category.
All of these measures are designed to enhance the popularity of Forum Montijo and its
acceptance throughout the catchment area. The fact that 40% of the visitors come to the
centre every weekend demonstrates the success of the overall concept.
The purchasing power of the population inside the catchment area (Setubal Peninsula)
is 115.67, the reference index being a Portuguese national average of 100. Sales in 2009
amounted to EUR 116 million, which translates into a turnover per sqm of approximately
EUR 3,300 and sales per customer of more than EUR 13.44. The total rental income
(including base rent, turnover rent, and income from temporary lettings) in 2009 was approximately
EUR 11.1 million. The effort index (rent/sales ratio) for the tenants equalled
just 11% on average.
In general, Forum Montijo has the same competitors as Almada Forum, all of which are
located on the north bank of the river in Lisbon. The catchment area of Forum Montijo
overlaps almost nowhere with those of the other major players in the region. Customers
of Forum Montijo named the Freeport Designer Outlet in polls when asked about other
shopping centres they visit. As Freeport, located northeast of Forum Montijo, has a
totally different concept, being an outlet centre, there is no direct competition between
the two schemes. In fact, there is an overlap in the secondary catchment areas of Almada
Forum and Forum Montijo. The competition between the two centres is therefore inherent
but negligible.
Forum Montijo was the first shopping centre in Europe to obtain an environmental
certificate – ISO 14001. The International Standards Award 14001 requires strict compliance
with environmental recommendations. The standards and procedures include
safe disposal of all waste products at the mall, monitoring and control of noise levels,
and protection of air quality. In addition, energy saving measures are also taken into
account. In 2008, Forum Montijo also won an ICSC Silver Solal Marketing Award with it’s
Magic Lamp Project. The campaign was focused around the Christmas skating rink and
showcased the strong ties to the community. The „Magic Lamp“ Project was based on
the three mainstays of sustainable development: the environmental, the economic, and
the social aspect.
In 2009, Forum Montijo won again a ICSC Silver Solal Marketing Award with Friendship
Recycling Centre. This pedagogic project aimed to raise children´s and parent´s social
awareness. These Silver Awards mean a lot for Forum Montijo, considering that the whole
of Europe is represented at the Awards and that they confer international recognition
of the best work in the field and of the most effective campaigns.
Property Report
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