Cinemas and restaurants were complimentary parts of shopping centers for a long time. They are not anymore

Digital First. Big data and its analysis will be more significant for the developers. They will shape the decision-making process and planning. In a competitive market, there is a small margin for errors. Developers are eager to enhance their strategic planning at all business phases. From construction to day-to-day work with tenants. Big data helps them to swiftly adjust their plans, mitigate risks, and increase efficiency. We'll see a rising popularity of data-driven approach in placemaking next year. Also, we can expect a high demand for cloud-based data analysis.

Shop Local is Here to Stay. People continue to support local businesses. We see this trend is gaining momentum based on our own experience. Many new SMEs and local brands are entering the market. There is an appetite of consumers for their products. Many people consider them to be more authentic compared with the production of big brands.

The Rise of New Anchor Tenants. Cinemas and restaurants were complimentary parts of shopping centers for a long time. They are not anymore. The trend is that people go there nowadays for entertainment and well-being much more than to buy a few things. We see the rising popularity of food halls in our neighborhood centers. Another tendency is the rapid expansion of gyms there. These facilities will become new anchor tenants for small and medium-sized shopping centers. Developers should prepare themselves to meet this demand from the consumers.

We continue to work on the market, which is changing a lot. It's exciting to be at the center of this transformation. It gives us a lot of challenges and opportunities at the same time. I wish everyone to be confident to grab new opportunities and transform them into achievements next year.

The commentary is derived from Across Magazine, January 2024