2007 Unibail-Rodamco Annual Report (5,2 Mb)

France
‘‘
Generating revenue growth depends on listening to and understanding our
shopping centre visitors in order to anticipate and satisfy their expectations.
We encourage our teams to develop an innovative spirit, offering an attractive
retail mix and appealing activities and events to make every visit to our centres
an enjoyable experience.
’’
JEAN-MARIE TRITANT /// MANAGING DIRECTOR RETAIL FRANCE
NUMBER-ONE IN FRENCH RETAIL
Visiting shopping centres ranks as the favourite leisure activity of the
French after watching television, according to a 2007 Sociovision
survey: 82% of the population fi nd them “attractive” and 77% see
them as places to “take a walk”. Statistics on consumption show
overall consumer spending rose by 2% in 2007 and is expected
to rise by about 1.8% in 2008. Unibail-Rodamco France enjoys a
privileged position with a well-balanced geographical distribution
of prime assets in top locations and a dynamic management policy
emphasising innovation and care for visitors. It has become the
undisputed number-one player in French retail, forging strong
partnerships with leading chains as well as supporting the arrival
and development of new trade names.
PROMOTING THE “WELCOME ATTITUDE”
Successful retail management relies on the “Welcome Attitude” policy,
a mainstay at all our centres, along with a broad spectrum of methods
aimed at satisfying customers and earning their loyalty. Architects,
designers and artists work together to create an appealing, comfortable
and safe environment where the whole family can come to shop,
enjoy a meal and see a fi lm together. The Group's centres often serve
as local meeting places: the National Employment Agency and army
recruiters engage in community outreach and tourist offi ces distribute
information in areas close to national borders. New retail ideas are
encouraged through contests such as the Young Retail Design Prize,
which was awarded in 2007 to the restaurant concept Picadilles ® .
In 2007, Unibail-Rodamco shopping centres in France featured
special events (Christmas markets), specialty leasing (push carts and
stands), major product launches (LG fl at screens, Nokia mobile phones)
and promotions in partnership with retailers (Animation Chocolat,
Veget’Halles, Les galops du Carré). Footfall was enhanced through
activities such as the VIP event “Soirée Privilège” at the Carrousel du
Louvre in May 2007 with 5,500 attendees and the summer fun and
relaxation festival “Les Terrasses du Forum” from July to September 2007,
which drew a total of 10,000 visitors and 3,000 participants in
dance lessons. The combined effect of this customer focus has been
an annual fl ow of more than 300 million visits.
INNOVATIVE DEVELOPMENT WITH AN EYE
TO THE FUTURE
The Group's development expertise in shopping centre
refurbishment and extension was highlighted this year by the
successful completion of a number of pipeline projects. The
new retail park at Carré Sénart 2, within walking distance of
the restaurant area, opened in November 2007. The park,
now fully let, offers a complementary retail mix and has already
drawn 14 million visits. The extension of Les Quatre Temps at La
Défense, including 9,500 m 2 for a home improvement store, was
delivered in July 2007. Carré Sénart 2 and Les Quatre Temps
were awarded the “Valeur Parc” label attesting to high architectural
and environmental quality. Vélizy 2, inaugurated in March 2007,
has been refurbished with an emphasis on greenery and natural
lighting. Finally, a former supermarket lot at Saint-Martial was
restructured to house H&M, la Redoute and Bizbee. The Chelles 2
property was sold and part of the proceeds reinvested in Vélizy 2.
Building permits and a number of commercial authorisations were
obtained for eight asset extensions and four greenfi eld projects.
The merger of Unibail and Rodamco is already bearing fruit in
the French shopping centre segment. Following the acquisition of
France Printemps, the Group's holding in Vélizy 2 co-ownership
rose to 65%. Signifi cant extension of Ulis 2 is planned to the
specifi cations of the retail project tender won by Rodamco with
the city of Les Ulis. In addition, the merger provides an exceptional
opportunity in Lyon to ensure the complementary positioning
of the Cour Oxygène extension at Lyon Part-Dieu and the
Lyon-Confl uence urban redevelopment project.