Where value meets convenience
At our complex, we continuously dedicate ourseves to improving conditions for all tenants. The recent renovations and facility additions are confirmations to our commitment to providing a superior experience for everyone who enters our doors. We have recently renovated the ground floor, transforming it into a more modern and functional spae, ideal for active breaks or informal meetings. It now serves as a central meeting point, contributing to a more dynamc and interactive atmosphere. Additionally, responding to the growing need for eco-friendly transport solutions, we have installed multiple electric charging stations. This initiative not only supports the use of electric vehicles but also highlights our commitment to sustainable practices. Furthermore, to ensure continuity in operations, the complex is now equipped with a backup generator. This guarantees that in the event of a power outage, office activites can continue uninterrupted, thus ensuring a seamless experience for all tenants. These improvements are just part of our ongoing efforts to ensure that our complex is not just a workplace but an environment where every detail is designed for the confort and efficiency of the tenats.
Our business grew by 15% YoY for the first semester. This is mostly a like-for-like evolution that underlines the sound fundamentals of our business. Our retail business is the largest contributor to the company income with around 60% of the total output. Our office leasing business is almost half the size of the retail operations, although it occupies a similar amount of net leasable areas. Just like we put it in the 1st quarter short memo, we are keen to bridge our business closer to international retailers, especially those who manage stores in nearby markets, Romania namely. When we estimate the benefits of these hopefully future accomplishments, we also reckon the much-needed efforts that we need to allocate, especially in terms of capital investments. Our general consensus is that Zity can build a successful story on the still-unexploited versatile location a symbolic social resonance (Zorile). It puts us in a position where international franchises could see potential for flagman stores that are usually associated with central touristic venues. The future is apparently bright.
Whether you are looking for a quick lunch, a break from family shopping, or a business meeting, the Zity Mall Food Court has everything you need to delight your tastes. We are proud to partner with McDonald's, Esushi, IKA, Salaterra, Wurst, Pepperoni Pizza, and Winebar Purcari, ensuring that every culinary experience will be a memorable and a great experience for our customers. Our food court offers a pleasant and welcoming atmosphere. It`s the perfect place to dine with family, friends or business colleagues. Zity Mall Food Court is more than just a place to eat—it's a complete experience for the whole family!
Traffic to our properties stood stable in 1st semester of 2024. Our mix of more than 90 retailers, food and entertainment operators drew in excess of 1 million visitors to our complex. Despite environmental disparities against the usual shopping seasons, our visitors continued to dwell our properties, shop, eat and socially interact. For example, over 500 anniversaries have been celebrated in connection to our venues through June and at least the similar amount of Happy Birthday to You iterations have excited Zity’s most junior fans. What’s even more important is that business that opened new venues and saw their business take a hit in Zity are bringing back their usual sale performance and recapture shortly lost margins. More than that, some of our anchor retailers have achieved record level of turnover, which is rewarding for all involved partners. We hope to uphold this momentum in 2H24 as we look forward to a record-setting August and our traditional, 5th edition of the Outdoor School Fest.
After a long process that started in 2023, we are happy to deliver our upgraded entertainment venues, namely Zity Entertainment Park and Zity Playground. Originating in a conceptually ”age-dependent” bifurcation, we have ended in accepting that entertainment has no age prescription and should be involving, diverse and even challenging. Both our concepts revolve around the desire to inspire offline activities mostly. Still, technology is in the veins of our kids more than we would like. As of today, our partners for both the projects, i.e. Walltopia, Kompan, ImSim, Hologate and MagicPlay, provide offline and electronic entertainment facilities in our projects. This makes us extremely proud as we want our clints to the acquire the most elevated and the safest entertainment experience in town. We look forward to play with you.
