AG Real Estate develops leisure centres in its Retail portfolio
AG Real Estate has confirmed the diversification of its commercial offer in the heart of the shopping centres it owns and manages. Several new leisure projects, with nearly 10,000m² floorspace in all, will be added to the retail offer already present in the malls of its portfolio, thus offering a mix that meets the new customers’ needs.
Following the implementation of its strategy focused on “Food & Beverage,” AG Real Estate is pursuing the objective of transforming its shopping centres into living spaces where conviviality and recreation will attract a varied clientele by offering original and differentiating experiences.
The first initiatives are being rolled out in the Galeries St Lambert (Liège), Gent Zuid (Ghent) and Galeries Anspach (Brussels) shopping centres, where the clientele, mainly students and young employees, are particularly keen on this type of attraction. In 2022, the Westland Shopping Centre will also meet the demand of its family target group by offering a leisure concept on a 4,000m² area.
Revitalization, innovation and conviviality
Galeries St Lambert: Orbis, an original French concept, will open its first location in Belgium at the Galeries Saint Lambert, in November of this year: 1,100m² of floorspace, divided into several universes, will host an area dedicated to board games, an escape room, virtual reality games and experiences and finally a themed restaurant. The people of Liège will no doubt be delighted to go there.
Gent Zuid Shopping Centre: Located at the southern entrance to the city of Ghent, this shopping centre is attracting young adults looking for a place to meet and have fun. On a surface of over 300m², Barvatar with its hotspot for eSports fans is a 100% local innovation by three young Ghent entrepreneurs. It features a leisure concept in 3 parts: “The Bar” will welcome Nintendo Switch, Xbox or Playstation fans, “The Club” will host eSports teams to train collectively and “The Academy” will be the meeting place for parents or companies interested in gaming and eager to develop their knowledge in this field. Barvatar is scheduled to open in September 2021.
A second, 1,800m² project focused on leisure activities is being prepared with a projected opening at the end of 2021 or beginning of 2022.
Galeries Anspach: The Galeries have for several years now been home to the only casino in Brussels and its galeries, spread over 15,000m², and have recently been supplemented by the more recent installations of The Park Playground (1,100m²) and Smile Safari (1,800m²). Finally, a new concept, the name of which will be revealed shortly, will be developed on 1,300m² and will offer an escape room with a prison setting and a bar-pizzeria. See you in the summer of 2022 for a preview of this new space in downtown Brussels.
Sam Perneel, Head of Asset Management Retail: “The implementation of a modified commercial mix strategy in our retail portfolio is bearing fruit, thanks to the efforts of our teams and the stakeholders concerned. These initiatives are being launched at a time when the good footfall results are starting to return. We are pleased that these initiatives are coming to fruition in a more than perfect timing that will enable our customers to benefit from meeting, relaxation and entertainment facilities after the complicated healthperiod. AG Real Estate is convinced that by modernizing its commercial spaces, it is responding to its customers’ need for social contacts.”
As a stakeholder of the city, AG Real Estate is also looking into other opportunities to develop services for citizens, while keeping the human dimension at the heart of its thinking.
About AG Real Estate
AG Real Estate, a wholly-owned subsidiary of AG Insurance, is an integrated property operator active in Belgium, France, Luxembourg and on certain select European markets with expertise in different lines of business: Asset & Property Management, Development & Construction Management, PPP and real estate financing, as well as in Car Park Management through its subsidiary Interparking. A company active in urban real estate, AG Real Estate has more than 250 employees with varied profiles and areas of expertise.
With a portfolio of more than €6.5 billion under management for its own account and on behalf of third parties, AG Real Estate is endeavouring to provide a responsible response to new urban needs and to implement a sustainable development policy as to make its projects even more meaningful.