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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 43
44 Forum Montijo Forum Montijo Catchment Area Lisboa Almada Source: www.viamichelin.de LISBOA Rio Tejo Alcochete Forum Montijo Seixal Barreiro Quinta do Conde Moita Montijo Pinhal Novo Palmela Setúbal Primary catchment Secondary catchment Ever since it opened, Forum Sesimbra Montijo has steadily widened its catchment area and increased its market share. Annexed to the mall is a complementary retail park, which will enhance the whole retail agglomeration as the region’s leading shopping and recreational destination. In its leadership role, the scheme is likely to benefit disproportionately from the forecast demographic growth in the eastern half of Setubal Peninsula. A constant adjustment of the retail mix by sector and tenant by the centre management ensures that customers‘ needs are always met.
Page 1 and 2: Annual Report 2009 as at 31 Decembe
Page 3 and 4: 2 General Information Fund name: CG
Page 5 and 6: Almada Forum
Page 7 and 8: 6 Financials Balance Sheet by Fund
Page 9 and 10: Almada Forum
Page 11 and 12: 10 Manager‘s Report on the Fund O
Page 13 and 14: 12 For 2010, the Economist Intellig
Page 15 and 16: 14 Larger shopping centres of more
Page 17 and 18: 16 Shopping Centre Prime Initial Yi
Page 19 and 20: 18 As the figure above shows, many
Page 21 and 22: 20 All three Luxembourg companies a
Page 23 and 24: 22 5.2 Forum Montijo The acquisitio
Page 25 and 26: 24 The following list shows the per
Page 27 and 28: 26 6.2.1 Service and Management Cha
Page 29 and 30: 28 Property Report 1. Portfolio Ove
Page 31 and 32: 30 Tenancy information Almada Forum
Page 33 and 34: 32 The following table shows the to
Page 35 and 36: 34 Almada Forum As at 31 December 2
Page 37 and 38: 36 Shops by group of activity - lev
Page 39 and 40: 38 Almada Forum these malls are loc
Page 41 and 42: 40 Located next to the main entranc
Page 43: 42 Shops by group of activity - Gro
Page 47 and 48: 46 4. Espacio León The city of Le
Page 49 and 50: 48 Parking Parking Espacio León fl
Page 51: 50 Espacio León streets in the inn
Page 54 and 55: the future net tax income to the cl
Page 56 and 57: 2.1 Internal Loan Portfolio The tab
Page 58 and 59: With the purchase of Almada Cda. an
Page 60 and 61: CG Real Estate Luxembourg S.à.r.l.
Page 62: Financial Statements Financial Stat
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