TOM 04 2025

T
TOPS
M
OF THE MONTH
TOMO
RETAIL REAL ESTATE
TOPS
OF THE
MONTH
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
THE HOTTEST DEALS +++
INTERVIEWS +++ STATEMENTS
+++ PARTICULARS +++
ANALYSES +++ PROJECTS
presented by HI-HEUTE.DE
April 2025
Luxury labels are also booming in Europe – here in London. Photo: AdobeStock / Alex Segre
Luxury retail proves
extremely resilient worldwide
Savills report: segment shows impressive growth
The latest Savills Global Luxury
Retail 2025 Report confirms
that despite ongoing
economic uncertainty, luxury
retail remains resilient worldwide
and recorded remarkable
growth in 2024. In more
than 75 percent of the 21 regions
surveyed, prime rents
rose year-on-year or remained
stable – a clear sign of the attractiveness
and stability of
the luxury segment.
After a slowdown in 2023, momentum
returned to new store
openings last year. Twelve percent
more new stores opened
worldwide, indicating a positive
turnaround. China remains the
leading country with a 40 percent
share of all new store openings,
although this share declined
slightly from 41 percent in
2023. The Asia-Pacific region
excluding China was particularly
dynamic: with 24 percent of
all new store openings worldwide,
this region overtook North
America and Europe. Within
Asia, Japan remains the most
important market with the most
new store openings, underscoring
the strong position of the
Japanese luxury market.
The return of international
travel in 2024 has led to a resurgence
in the importance of
global alpha cities and smaller
destinations. This development
is supported by the increasing
concentration of wealthy individuals
in these markets. Their
spending is proving more resilient
in the current economic
climate, as reflected in the
strong performance of ultra-luxury
brands such as Chanel and
Hermès.
Anthony Selwyn, Co-Head of
Global Retail at Savills, explains:
“Luxury brands are
pursuing a long-term strategy
and adapting their portfolios to
move closer to their customers.
Following the pandemic, we
have seen brands increasingly
focus on affluent, underserved
domestic markets. This trend
will continue, but competition
in core luxury markets will intensify.
The quality of locations
and real estate will remain crucial.
Pressure on prime rents
will continue, albeit with slower
growth and limited space availability.”
Marie Hickey, Director Comercial
Research said: „The stabilization
of the luxury market that
began to emerge at the end of
2024 will continue to solidify
throughout this year. However,
weak consumer sentiment in
the US and China will weigh on
growth and shape real estate investment,
with the focus remaining
on the best opportunities in
the short term.”

Page 2 T O M
According to a recent analysis
by CBRE, the German retail
real estate investment market
achieved a transaction volume
of €1.3 billion in the first
quarter of 2025. Compared to
the first quarter of 2024, this
represents a decline of 14 percent.
ANALYSES
April 2025
Well-filled pipeline for retail investments
According to CBRE analysis, however, the year started with some caution
The portfolio ratio rose significantly
by 35 percentage points
to 47 percent year-on-year. The
share of international investors
also rose noticeably by 38 percentage
points to 56 percent.
“The start to the year was somewhat
slow, but still delivered
a solid result. However, we are
seeing increasing investor interest
in retail real estate. Players
who have fulfilled their quotas
in other use classes are also returning
to the market and are
now focusing on retail. Even
though core capital remains
scarce, there is a willingness to
pay good prices for new buildings
or existing properties with
high ESG standards,” says Jan
Schönherr, Head of Retail Investment
at CBRE.
Food retailers and
specialist stores at
the forefront
The food market and specialist
store center segment accounted
for the largest share of transactions
in the first quarter of
2025, at 62 percent. Prime retail
properties, which performed
particularly well in the previous
year, accounted for only 9.2
percent in the first quarter (47
percent in 2024). According to
the study, shopping centers had
a very subdued start to the year
with a market share of only 2.6
percent (15 percent in the previous
year). Although sales, review,
and negotiation processes
are currently underway for various
centers, some of which are
at an advanced stage, these are
taking more time, meaning that
larger deals are still pending.
Interest rate
developments
as a push factor
„Interest rate developments can
have a major impact on the real
Food-anchored properties remain at the top of investors‘ wish lists. Symbolic image: Pixabay / Tumisu
estate investment market. In addition
to possible future interest
rate developments, yields at the
long end of the yield curve are
also crucial. In the short term,
the ECB is likely to lower key
interest rates further in order to
provide additional growth impetus
for the eurozone economy.
The capital markets are also
currently returning to a more favorable
level for the real estate
sector. After the five-year euro
swap rate briefly exceeded the
2.5 percent mark following the
announcement of the German
government‘s special fund, financing
interest rates have now
fallen by just under 30 basis
points. And even the “risk-free”
benchmark yield, which recently
stood at 2.9 percent, marking
the sharpest rise since reunification,
is now stabilizing somewhat
for ten-year German government
bonds, which are currently
below 2.6 percent, making real
estate investments more predictable.
If the multi-billion-dollar
fiscal stimulus leads to rising
inflation rates, inflation-indexed
real estate could benefit accordingly,”
explains Dr. Jan Linsin,
Head of Research at CBRE in
Germany.
Yields
remain stable
„Prime yields for retail properties
remained largely stable during
the first quarter,” says Anne
Gimpel, Team Leader Valuation
Advisory Services at CBRE in
Germany. Only food-anchored
retail parks and grocery stores
saw a slight compression in
yields of 0.1 percentage points
to 4.9 percent and 4.6 percent,
respectively. Prime retail properties
in the top seven cities remained
unchanged at 4.64 percent,
shopping centers in prime
locations remained stable at 5.9
percent, and shopping centers in
secondary locations at 7.5 percent.
Growing interest
„The retail property investment
market currently has a well-filled
pipeline across all risk profiles.
Due to the continued strong
and growing interest in retail
properties and the large-volume
sales processes currently underway
in the shopping center segment,
we expect a good overall
result for the year,” Schönherr
analyzes.
T
TOPS
O M
OF THE MONTH
TOM
TOPS
OPS F THE ONTH
OF THE
RETAIL REAL ESTATE
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
IMPRINT
MONTH
Publisher:
Business News Group GmbH
Address:
Alexanderstraße 16
45130 Essen
Germany
Tel. 0049-201-874 55 28
Web: www.hi-heute.de
Mail: tom@hi-heute.de
Frequency of publication:
monthly
Circulation: approx. 5000 copies
sent by e-mail
Editorial team: Susanne Müller,
Thorsten Müller
Responsible in terms of press
law: Thorsten Müller
Layout: K4-PR, Essen
THE HOT
INTERVI
+++ PAR
ANALYS
present
Marc

Page 3 T O M
TOP STATEMENT OF THE MONTH April 2025
TOP STATEMENT
May
„Germany‘s economic
realignment is the
order of the day. It is
now crucial that the
encouraging agreements
reached by the
new coalition government
are translated
into concrete and reliable
policies.”
DEHOGA President Guido
Zöllick in a press release shortly
after the swearing-in of German
Chancellor Friedrich Merz.

Page 4 T O M
CENTRES April 2025
Grand opening in the Food Garden
of the Main-Taunus-Zentrum
28 million euro investment for new attraction in shopping center near Frankfurt
The Main-Taunus-Zentrum
has gained a new attraction:
after around 15 months of
construction, the new Food
Garden has opened in the
well-known shopping center
in Sulzbach near Frankfurt
am Main, right on schedule
and fully let. More than 1,000
guests attended the official
opening.
Five specially constructed, freestanding
restaurant buildings
offer space for eight dining concepts,
inviting outdoor terraces,
and attractively designed green
spaces. With their varied range
of dining options and open
structure, they form an additional
attraction and an ideal complement
to the tenant mix. The
new buildings were constructed
using sustainable and resource-efficient
timber construction
methods.
Implementation
by ECE
The owners, Deutsche EuroShop
and a closed-end real estate
fund, have invested around 28
million euros in the strategic
redevelopment project for the
Main-Taunus-Zentrum. The
project was developed, planned,
let, and implemented by ECE
Marketplaces, which also operates
the center. The aim is to
create additional visitor incentives
with the expanded range of
restaurants in the Food Garden,
tap into new customer groups,
increase the quality of the visitor
experience and the length
of time spent in the center, and
consistently develop the tenant
mix and the utilization concept.
New heart
of the center
Center Manager Daniel Quaas
(ECE) was already enthusiastic
during the GCSP Power Days in
Weiterstadt: „You can smell and
feel the wood, a natural connection
with a wow effect. All
the tenants have left the massive
ceiling beams exposed.”
He emphasized that with eight
The Food Garden in the Main-Taunus-Zentrum in Sulzbach has just opened.
The first guests are trying out what‘s on offer.
highly professional restaurateurs,
the MTZ has become a
marketplace, a new heart on a
former warehouse site – „because
we think of the entire
center as a small town.”
New feature: The Food Garden
will also be open on Sundays.
One of the buildings is being
prepared for a walk-on roof,
which will be added at a later
date.
Continuous
development
Photo: ECE
„With the Food Garden, we are
implementing another important
component of our joint strategy
to continuously develop
the Main-Taunus-Zentrum and
thus position it for a successful
future,” says Joanna Fisher,
CEO of ECE Marketplaces.
Photo: ECE
The new restaurant tenants at
the Main-Taunus-Zentrum are
the steakhouse The Ash, the
pizza and pasta concept L‘Osteria,
restaurant and bar operator
Alex, Japanese noodle bar
MoschMosch, Indian concept
EatDOORI, and regional providers
Traumkuh, Vegabar, and
Umami.
Diversity like in
prime locations
Hans-Peter Kneip, member of
the Executive Board of Deutsche
EuroShop: „Anyone who
loves good food should visit the
new Food Garden at the Main-
Taunus-Zentrum. Eight great
restaurants offer culinary diversity
at a level that is otherwise
only found in prime city center
locations.” Opened in 1964, the
MTZ is one of the largest and
highest-grossing shopping centers
in Germany. The shopping
center is fully leased and has
over 170 stores on a sales area
of more than 90,000 square meters,
including concepts such
as Apple, Anson‘s, Breuninger,
Hollister, MediaMarkt, and
Zara, as well as a multiplex cinema.

Page 6 T O M
INTERVIEW April 2025
„On-site consulting and digital service
are a must-have combination”
Interview with Decathlon Expansion Manager Stefan Kaiser
Stefan Kaiser has been with
Decathlon Germany for over
16 years and, since February
2022, has been Director
of Real Estate & Expansion,
overseeing store expansion in
Germany and Austria. Previously,
he was Expansion Manager
for Southern Germany
and Austria, where he gained
extensive experience in business
development and real
estate negotiations. In an interview
for our industry directory
“Fit for the future? – New
obligations and opportunities
for retailers” with TOM editor-in-chief
Thorsten Müller,
he explains how the company
plans to continue growing and
take into account the increased
needs of its customers.
TOM: Decathlon wants to
push ahead with its expansion
in the next three years. What
is the reason for this and what
is your strategy?
Stefan Kaiser: The German
sports market offers incredible
potential due to its size and diversity.
Our goal is to further
expand our market share and get
even more people excited about
sports. The new store concepts
and city-center locations bring
us closer to our customers, allowing
them to integrate us into
their everyday lives. We want
to offer our products in smaller
spaces with a select range.
Right where our customers need
us. Thanks to our network, our
stores are also well connected
within cities and support each
other.
TOM: What store sizes/formats
are your main focus and
why?
Stefan Kaiser: We are sticking
to our successful concept and
will also be introducing new
formats: our classic multisport
stores in larger spaces with the
entire product range, as well as
our new Connect stores in central
city locations. In the smaller
spaces, we offer a more specialized
product range, complemented
by formats in shopping
centers.
TOM: Digitalization has long
since found its way into your
Stefan Kaiser, Director Real Estate & Expansion for Germany and
Austria at Decathlon Photo: Decathlon
company. How is this noticeable
in your customer business—how
interactive are
your processes?
Stefan Kaiser: We see ourselves
as an omni-business. We
use digital tools in our stores
primarily to make processes as
pleasant as possible for our customers
and to continuously improve
the shopping experience.
For example, our self-checkout
registers are very well received
by our customers thanks to their
ease of use and uncomplicated
product scanning. We have been
working with this system in
Germany since 2014. Our team
members can use the time they
save to advise customers and
further their personal development.
Digital price tags ensure that
prices are always up to date
and provide additional useful
information about the products.
They also contain QR codes that
link directly to further product
details. In some stores, RFID
robots are also used to make inventory
management more efficient
and accurate.
TOM: What criteria are most
important to you when choosing
a location?
Stefan Kaiser: The criteria for
selecting a location vary depending
on the store format. Basically,
we attach great importance
to good accessibility for our
customers. While in the past
we focused primarily on retail
parks with high accessibility,
we are now increasingly considering
central city locations
that fit in with our new Connect
Store concepts.
TOM: Sustainability and
ESG also appear to be high
priorities for you. Could you
give us some examples – on
the one hand in terms of the
product range and on the other
in terms of the real estate
facilities?
Stefan Kaiser: Sustainability
is a central aspect of our corporate
strategy. One of the biggest
challenges is to respect the planetary
boundaries. We want Decathlon
to play a leading role in
the ongoing ecological transformation
and become an inspiring
model for a sustainable future.
For the second year in a row,
we have reduced our absolute
CO2 emissions (10% less than
in 2022) while increasing our
sales. We are pursuing specific
medium- and long-term goals in
Scopes 1, 2, and 3 to contribute
to the Paris Climate Agreement.
In 2013, we published our first
non-financial reporting declaration.
At that time, our focus was
mainly on reducing greenhouse
gas emissions. Since then,
we have steadily expanded our
strategy and now cover a wide
range of relevant topics, from
circular economy and biodiversity
to living wages.
In 2019, Decathlon set sciencebased
climate targets for the first
time, which were validated by
the international Science Based
Targets initiative (SBTi). This
publicly anchored our decarbonization
path and our net-zero
goal for the first time, enabling
us to establish a clear strategy
for reducing our climate impact.
In early 2024, we revised our
targets to strengthen our decarbonization
efforts: By 2030, our
absolute greenhouse gas emissions
across the entire value
chain will be reduced by 42 percent
(compared to the base year
2021, in Scopes 1, 2, and 3).
Over the past two years, we
have further developed our circularity
strategy to scale circular
business models. This includes
buy-back, second use, and
DIY and repair services offered
worldwide in our workshops.
A significant milestone on this
journey is the significant increase
in our share of revenue from
the circular economy compared
to total revenue. We now measure
this key figure across the
entire company. In Germany,
we also launched our workshop
offensive this year with the aim
of opening up to 10 workshops
across Germany in the coming
years that offer comprehensive
repair services and make Decathlon
the leading point of contact
for sports equipment maintenance
and repair services in
Germany.
TOM: How do you personally
view the future of brick-andmortar
retail? Will it be able
to hold its own against online
shopping in the long term, and
if so, why?
Stefan Kaiser: I am convinced
that brick-and-mortar retail
will increasingly establish itself
as part of an omnichannel
approach, where customers can
seamlessly combine the advantages
of online and offline shopping.
Expert advice in-store,
coupled with digital services
such as online reservations or
click & collect, creates a shopping
experience that is tailored
to the individual needs of customers.
This interaction is essential.

The art of
investing
Tailor-made investments in German supermarkets
As real estate experts, we invest in grocery stores
and retail parks throughout Germany.
The advantage?
Financially very strong tenants and crisis-proof basic
supply ensure sustainable attractive returns for
investors.
20 years of experience in food retail
Excellent network
Working in partnership
Big plans? So do we.
Talk to us:
Jörn Burghardt • Managing Director
Phone: +49 (69) 756694334 • E-mail: j.burghardt@g-pep.com
GPEP GmbH · Hamburger Allee 26-28 · 60486 Frankfurt/Main GERMANY • www.g-pep.com

Page 8 T O M
GUEST CONTRIBUTION April 2025
What must never change –
focus on the customer!
Guest article by Christoph Andexlinger, CEO of SES SPAR European Shopping Centers GmbH
In an increasingly digital
world, brick-and-mortar retail
remains indispensable
– no longer just as a place to
shop, but as a platform for encounters,
emotions, and tangible
innovations in the real
world – in short, as a place
that people love. The key lies
in a clear focus on customer
needs, coupled with courage,
a willingness to experiment,
and a balance between the
tried and tested and the new.
Emotion is and will remain
the decisive advantage over
online retail and thus also
the basis on which brick-andmortar
concepts will continue
to succeed in the future.
People want to be around other
people – a realization that
has been impressively proven
in practice by the impossibility
of fulfilling this desire during
the pandemic years. Brickand-mortar
shopping locations,
especially shopping malls, combine
the analog strength of the
experience with the advantages
of digital technologies. At the
same time, the retail landscape
is undergoing a profound
transformation: the pandemic,
high labor costs, supply chain
disruptions, and high interest
rates are forcing the industry
to consolidate its location portfolio,
with the result that there
will be fewer brick-and-mortar
retail locations in the future, but
those that remain will be more
heavily frequented than before
– precisely because people want
to be around other people, but
will have fewer places to do so
in the future.
Despite all the nostalgia, this
development also offers opportunities:
small businesses,
family-owned companies, and
start-ups are benefiting from
new location opportunities,
while retailers and mall operators
that have always been
customer-focused are now able
to fully leverage their strengths
in this area. However, the necessary
and important addition
of experience, service, health,
and entertainment-oriented offerings
beyond traditional retail
Christoph Andexlinger is CEO of SES Spar European Shopping
Centers GmbH, which is part of the SPAR Austria Group and currently
operates over 30 shopping destinations in six European
countries.
Photo: SES
is a basic prerequisite for sustainable
development.
Focus on the
customer – the key
to success
Amidst all the changes in retail,
one thing that never changes but
is often overlooked on online
platforms with thousands upon
thousands of offers for the same
search term is the core task of
retailers: curating or preselecting
products for specific customer
groups. This allows retailers
to reduce the complexity of
their offerings while providing
guidance. Ultimately, this also
creates the basis for every successful
brand: clear positioning
that lets both the retailer and the
customer know what the retailer
stands for. Naturally, this curation
never stops; rather, it enables
the necessary continuous adaptation
and optimization of the
product range. For us as mall
operators, the term “customer”
encompasses three main focus
areas: visitors, shop partners,
and owners.
Today, shopping destinations
must be places where people
can enjoy themselves, have fun,
discover interesting and innovative
things, and experience
surprises, but also find familiar
things. The greatest compliment
for us as operators of such destinations
is when our visitors love
our locations and see them as an
integral part of their everyday
lives. To achieve this, we need
a passionate and dedicated team
every single day.
The convergence of the digital
and analog worlds is a fact – and
that‘s a good thing. Shopping
malls use digital tools such as
smart apps and hybrid concepts
to enrich the customer experience.
Artificial intelligence offers
enormous possibilities: from location
analysis and optimization
of space utilization to building
control.
The foundations for the successful
use of AI in our industry
are extremely high data quality
and a strategic, non-reactive
approach. We have set ourselves
the goal of not outsourcing
AI as a matter of principle, but
rather building up the relevant
expertise within our organization.
Forecasts show the growth
potential: global investment in
AI is expected to rise to USD
631 billion by 2028 (source:
PwC Strategy&). Retail is one
of the top three industries in the
application of AI technologies.
Shopping malls are ideal testing
grounds for innovative concepts
and product ideas. They
offer the high-quality space and
the right audience to test new
ideas before making larger investments.
This involves wellthought-out
experiments based
on sound analysis. Courage,
paired with perseverance and
composure, is required here.
Cooperation and
multifunctional use
Successful, vibrant retail locations
– if they are designed as
genuine living spaces – need
a mix of international magnet
businesses and regional providers
that create a strong connection
to the respective region.
Offers that can fulfill a wide variety
of functions are becoming
increasingly important. One
example of this is the integration
of health parks into shopping
centers, which we at SES
will soon be implementing for
the first time in one of our malls
with a concept covering around
3,000 square meters in collaboration
with one of the top players
in the health industry.
In my opinion, ecologically,
economically, and socially sustainable
actions, coupled with
a focus on maximum customer
relevance, are the basis for a
promising, long-term perspective
for the retail of the future.
We must make decisions that
also make sense for the next generation
or at least do not disadvantage
them. I am convinced
that this is possible.

URBAN CREATORS.
Architecture | Development & Project Management
European Council of Shopping Places (ECSP) Awards: Commendation for Best Renovation/Expansion for centres between 15.000 – 45.000 sqm

Page 10 T O M
GUEST CONTRIBUTION April 2025
Processes of the future: Greater
efficiency through digitalization
and AI in property management!
Exclusive guest article by Björn Rieger, managing partner of HEICO Property Partners
As a service provider, our
teams of specialists and experts
in property management
are the most important
building blocks for our company‘s
success. However, we
need to use these valuable human
resources even more efficiently,
especially where they
are really needed.
The shortage of skilled workers
also affects our industry,
and we must ensure that we do
not assign talented individuals
to tasks that can be performed
much more sensibly and quickly
using sophisticated AI-supported
digital solutions. Our goal is
to significantly optimize resource-intensive
processes, both in
terms of time and personnel.
We see nothing but advantages
in the further digitalization and
supportive integration of AI into
our processes—this is a clear
strategic goal in our corporate
development! Here are a few
examples:
AI project:
Automated
processing of
invoice documents
and account
assignment
AI will be used to automate
the processing of invoice documents,
including the precise
allocation of G/L accounts.
This will significantly speed up
invoice processing and reduce
the effort involved in preparing
utility bills. This will result in
greater efficiency and time savings
throughout the entire process.
During the start-up phase, a
team is often faced with the
challenge of reviewing and evaluating
large quantities of documents
from transferred data
rooms. The goal is to use AI to
quickly gain a structured overview
of the existing documents
in order to identify and request
Björn Rieger, Managing Partner of HEICO Property Partners Photo: HEICO
missing documents in a targeted
manner. This makes the start of
new projects more efficient and
saves the team‘s time.
AI project:
Obtaining
comparative
quotes for skilled
trade services
A key issue is simplifying the
process of obtaining comparative
quotes for skilled trade services,
which is currently timeconsuming
and labor-intensive.
The aim is to make this process
more efficient by combining
human expertise and AI without
compromising transparency and
industry standards. An optimized
process now eliminates the
need for time-consuming comparison
shopping. The use of AI
enables the preliminary review
of many quotes and invoices to
be largely automated, so that it
usually takes only a few days or
even hours from document receipt
to complete review. In the
case of conspicuous documents
(both factual in nature and involving
prices that are unusual
for the region or industry), a
detailed check is automatically
initiated by one of our cooperation
partner‘s more than 50
permanently employed trade
experts from more than a dozen
trades, and any discrepancies
are clarified immediately. This
avoids unnecessary touchpoints
with clients, saving resources
and ensuring that no unrealistic
prices are quoted.
If no comparative offers are
available, HEICO‘s property
managers use the detailed review
reports provided by our
partner (Property Expert) for
each review to assure owners
and investors that the proposed
offer has been reliably and
comprehensively reviewed.
Due to the immense volume of
comparative data from the respective
areas, the result of the
review process corresponds to
thousands of offers obtained
and reviewed against the entire
German market, which makes
it unnecessary to manually obtain
further comparative offers.
This semi-automated offer review
is a promising option that,
alongside the digital evaluation
of rental agreements and the
digitization and AI-based optimization
of key accounting and
utility billing processes, could
represent a new, more modern
industry standard.

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Page 12 T O M
INTERVIEW April 2025
„The long-term perspective
is what counts for us”
Interview with Jan Riemann, Head of Real Estate at ALDI SÜD, Germany
ALDI SÜD continues to focus
on optimizing its store network.
In an interview with
TOM editor-in-chief Thorsten
Müller, Jan Riemann, who is
responsible for real estate development
at the company,
reveals what is particularly
important for the company
in this regard and how this
is being achieved in terms of
quantity and quality.
TOM: What mixed-use real
estate developments are most
interesting for a discounter
like you?
Jan Riemann: It may sound banal,
but location is crucial when
developing our store locations.
We want to be as close as possible
to our customers. This means
short distances and proximity to
everyday routines. If people can
combine their shopping with other
errands and tasks, it‘s practical
and makes life much easier
for them. Mixed-use properties
that combine local amenities
with suitable additional uses
increase the attractiveness of
a location, especially in urban
areas.
What these mixed-use properties
look like in practice depends
on the location. The relevance
of the offering is key.
Ultimately, only what meets a
real need adds value to the local
infrastructure. So where there is
a shortage of apartments, student
accommodation, or space
for a daycare center, we try to
integrate these requirements
into our plans. The same applies
to offices, restaurants, parking
spaces, and services such as mobility
and parcel stations.
We see ourselves as advisors
and idea developers. Together
with our partners, we want to
develop real estate that meets
urban planning requirements
and creates added value for all
users. Whether as an investor,
owner, tenant, or landlord—
that‘s not important. What matters
to us is the long-term perspective,
and that‘s why flexible
development with the right mix
of users is our focus.
TOM: What are the biggest
challenges for you in terms of
Jan Riemann
construction, on the one hand
in the construction of the discount
stores and on the other
hand in the construction of other
types of use, such as apartments,
etc.?
Jan Riemann: The challenge
in construction is always to
strike the best possible balance
between the three factors
of quality, cost, and time. The
complexity is much lower when
building our classic stores, and
we have a wealth of experience
in this area. That‘s why we
rarely encounter any major
surprises in these construction
projects. Mixed-use properties
are much more complex. The
structural and fire safety requirements
alone require significantly
more effort. For these
cases, we have put together
internal teams of highly skilled
experts. They work closely with
our experienced partners to ensure
that we also develop and
implement successful projects
in the mixed-use sector.
TOM: How is the cooperation
with the authorities going?
Aren‘t the approval processes
for your projects sometimes a
bit of a nightmare?
Jan Riemann: There is no blanket
answer to that question. Basically,
time is money, and anything
that complicates or delays
Photo: ALDI-SÜD
the approval of construction
projects makes them more expensive.
If you then add in factors
such as high construction
and energy costs, this can lead
to construction projects being
abandoned at an early stage.
Good cooperation with cities
and municipalities is therefore
essential for our project development.
The trick is to link
our concerns – i.e., the new
construction or modernization
of a branch – with the concerns
of the respective partner so
that everyone involved benefits.
This works very well with
mixed-use concepts: You need
living space and rooms for a
daycare center? We need more
retail space. Let‘s create both
together.
Our experience shows that the
key to success is mutual understanding
of the concerns and
scope of all parties involved –
in terms of building regulations,
politics, and economics.
TOM: What percentage of
your projects are now in
neighborhoods or mixed-use
properties? Is this likely to increase
in the future?
Jan Riemann: We have implemented
such projects selectively
in the past. Since restructuring
our business division and
forming specialized teams about
three years ago, we have been
systematically pursuing such
project developments. Their
share is therefore rising steadily,
but in relation to our approximately
2,000 stores nationwide, we
are still in the low single-digit
percentage range. In addition to
the mixed-use projects that we
develop ourselves as owners,
there are others in which we are
involved as future tenants or location
partners.
We believe in city centers as
attractive retail locations and
will continue to focus on the
development of food-anchored
properties there in the future.
The scope and frequency of new
project developments depend
on the development of the framework
conditions and the willingness
of our partners.
TOM: What are your specific
plans for this year in this regard?
Jan Riemann: We would like
to complete a number of ongoing
project developments in
2025. In Landau in the Palatinate,
we are building a branch with
almost 200 residential units for
students on the floors above.
This will be the second project
that we have successfully completed
with the city and the Vorderpfalz
student services organization.
More student apartments
will be ready for occupancy in
Tübingen. In Nuremberg, we
are completing the construction
of a branch with over 50 apartments
and a two-story underground
parking garage.
TOM: Is there anything you
have never built but would really
like to?
Jan Riemann: We want to be
where things are happening,
where people come and go.
That‘s why transit locations
such as airports and train stations
are very interesting. A few
days ago, we signed the lease
for a store in the newly designed
part of Frankfurt‘s main train
station. When we open there in
2026, it will actually be a first—
and who knows, maybe more
will follow.

www.wisag.de
Your shopping centre in the best hands
Perfect cleanliness, uncompromising security and optimum service:
all this keeps not only the customers satisfied, but also tenants and
owners. With our tailored solutions and experience, you will benefit
from optimum management costs. And at all times, we have value
retention and the sustained development of your centre in mind.
We go one step further for you.
Joaquin Jimenez Zabala
Tel. +49 162 7861-324 joaquin.jimenez.zabala@wisag.de

Page 14 T O M
MAP OF THE MONTH April 2025
GfK Purchasing Power in Germany, Austria and Switzerland 2025
The GfK-Geomarketing Map of the Month for April
shows the regional distribution of purchasing power in
Germany, Austria and Switzerland in 2025. With an average
per capita purchasing power of 53,011 euros, the
Swiss once again have significantly more money available
for spending and saving in 2025 than residents of
neighboring Austria and Germany. Austrians have a per
capita purchasing power of 29,852 euros, while Germans
can spend an average of 29,566 euros this year.
However, there are significant regional differences in
spending potential not only between the three countries,
but also within them. In Switzerland, the Hoefe district
takes first place by some distance. People there have an
average of 138,996 euros at their disposal, almost 3.6
times more than the residents of the Entlebuch district
which has the lowest purchasing power (39,070 euros).
For Austrians, Vienna’s 1st district (Inner city) leads
the way with a per capita purchasing power of 40,497
euros, while Vienna’s 20th district (Brigittenau) brings
up the rear with 23,624 euros. In Germany, the Starnberg
district leads the district rankings with a per capita
purchasing power of 40,684 euros; Gelsenkirchen takes
last place with a spending potential of 23,425 euros per
inhabitant.

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