IGD SiiQ

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Operational and technical terms

Agency Management

Activities aimed at finding the most profitable tenant mix and negotiating leases for stores at malls.

 

Development pipeline

Program of investments in development.

 

EPRA

European Public Real Estate Association.

 

ERV/Estimated rental value

The estimated value at market rates for rentable spaces, according to an independent appraisal based on similar properties in comparable areas.

 

Facility Management

Supply of specialized services to shopping centers such as security, cleaning and routine maintenance.

 

GLA

Gross leasable area.

 

Gross floor area

Surface area of a property including external walls.

 

Hypermarket

Property with a sales floor in excess of 2,500m², used for the retail sale of food and non-food products.

 

IPD

Investment Property Databank. An index which produces an independent benchmark for real estate investment returns.

 

Mall/Shopping Mall

Property comprised of many stores plus the common spaces around which they are situated. Usually called a "Galleria" in Italian.

 

Midsize store

A property with a sales floor of 250 to 2,500m² used for the retail sale of non-food consumer goods.

 

Net area

Surface area of real estate not including external walls.

 

Occupancy rate

Gross let surface area expressed as a percentage of properties' total surface area.

 

Operators committee

Committee made up of retailers operating inside the shopping centre.

 

Over-rented

Space rented for an amount exceeding its ERV.

 

Pre-let

Lease signed by a tenant before development of the property has been completed.

 

Real estate portfolio

The portfolio of freehold and leasehold properties rented out by the IGD Group.

 

REIT

Real Estate Investment Trust, comparable to a SIIQ in Italy.

 

Retail Park

Goup of three or more complexes with a combined area of more than 4,500 mq and shared parking.

 

Shopping center

Real estate complex comprised of a hypermarket and a shopping mall, featuring common areas and services located in a covered area with heating and air conditioning.

 

SIIQ

Società di Investimento Immobiliare Quotata, Real estate investment model comparable to a REIT. SIIQ rules allow income tax exemptions for publicly held listed companies whose prevalent activity is the rental of properties and the equivalent, provided they meet a series of earnings and balance sheet requirements.

 

Store

Property for the retail sale of non-food consumer goods.

 

Supermarket

A property with a sales floor of 250 to 2,500m², used for the retail sale of food and non-food products.

 

Tenant mix

Set of store operators and brands found within a mall.

 

Under-rented

Space rented for an amount less than its ERV.

 

 
 
 
 
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