The Italian economy was rapidly confronted with the consequences of the credit crunch and the cooling international economy in 2008.
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The value of the Italian shopping centre portfolio increased slightly from € 1,110.2 million at year-end 2007 to € 1,128.3 million at the end of 2008.
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The theoretical rent for 2008 rose by € 10.3 million, or 18.4%, to € 66.2 million.
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Corio’s centres in Italy (excluding Campania) were visited by approximately 42 million people in 2008, 3.8% more than in 2007.
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The fixed and variable pipeline of Italian shopping centre projects amounted to € 909 million at year-end 2008 (2007: € 924.4 million, including the prospect pipeline), including € 13.2 million (2007: € 1.0 million) already invested.
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GrandEmilia is considered to be the most popular shopping centre in the Province of Modena.
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A recent customer satisfaction survey confirmed that consumers visit GrandEmilia more often than any other shopping centre in the region, and that the centre scores relatively highly in all areas of customer satisfaction compared to other shopping ...
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Right from the very start, GrandEmilia was a successful, prominent shopping centre in a relatively wealthy region, and it continues to be so up to this day.
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The management of GrandEmilia will use the findings of the most recent customer survey to strengthen the position of shopping centre.
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