The 2024 edition of MAPIC concluded with a variety of discussions and showcases from the retail and property sectors. This year’s event attracted 4,400 participants, including 1,800 retail representatives—a 12% increase compared to 2023—demonstrating robust interest and activity in the industry.
LeisurUp: Integrating Leisure and Retail
A key highlight of MAPIC 2024 was LeisurUp, the dedicated space for leisure and immersive experiences. This growing segment aims to integrate entertainment into retail environments, creating dynamic destinations that draw footfall and enhance customer engagement.
LeisurUp showcased over 20 companies specialising in immersive entertainment, experiential retail, and family attractions. Industry leaders like Bandai Namco, Universal, TF1 Licensing, Dama Dreams, and Zero Latency VR demonstrated how gamification, virtual reality, and themed experiences can transform traditional retail spaces.
The zone included sessions exploring trends in leisure-based retail, such as the growing demand for multi-sensory environments. Speakers highlighted how leisure can increase dwell time, foster emotional connections with brands, and boost revenue.
Urban Regeneration and Major Projects
Urban regeneration was a prominent theme at MAPIC 2024, with several transformative projects showcased during the Retail and Urban Regeneration Summit.
Brent Cross Town: A Sustainable Urban Community
Brent Cross Town, located in northwest London, represents one of the UK’s largest regeneration projects. Spanning 180 acres, the development is set to deliver 3,400 new homes by 2029, alongside 50 acres of parks and green spaces. With sustainability at its core, Brent Cross Town aims to achieve net-zero carbon emissions and foster community wellbeing through excellent connectivity, recreational facilities, and inclusive design. The project also prioritises sports and active living, creating spaces that encourage healthier lifestyles.
Grande-Synthe: The Future of Urban Retail
Grande-Synthe, a mixed-use project in northern France, was presented as an ambitious redevelopment initiative designed to redefine the role of retail in urban environments. The project is part of a collaboration between Nhood and the Banque des Territoires, reflecting their shared vision for a “New Retail” approach. Grande-Synthe combines retail spaces with green infrastructure and community-focused amenities. Key elements include pedestrian-friendly zones, innovative architectural designs, and sustainable energy solutions.
Diriyah Square: A Global Cultural and Commercial Hub
At a briefing during MAPIC, updates were shared on Diriyah Square, the commercial heart of Saudi Arabia’s $63.2 billion Diriyah development. Scheduled to open in 2024, Diriyah Square will feature over 400 retail brands, including more than 100 local artisan souks, blending global and traditional shopping experiences. Spanning 186,000 square metres, the development will also include 100 restaurants and cafés, luxury hotels, cultural theatres, and modern office spaces.
Diriyah Square’s design draws from 300-year-old Najdi architectural styles, reflecting the region’s heritage while integrating modern amenities. As part of Saudi Arabia’s Vision 2030, the project prioritises sustainability through water conservation, energy efficiency, and wellness initiatives. It aims to create a walkable city that promotes a healthy lifestyle while preserving cultural heritage.
Entrecampos: Lisbon’s Regeneration Vision
Lisbon’s Entrecampos project focuses on revitalising a 5-hectare district with 128,000 square metres of office space, 28,000 square metres of residential buildings, and 24,000 square metres of retail. Designed by two Pritzker Prize-winning architects, the development prioritises public access and green spaces, featuring 17,000 square metres of parks and plazas.
Retail Investment Trends
The retail investment market was a key focus at MAPIC 2024. A study by BPCE Solutions Immobilières revealed that retail has shown resilience compared to other asset classes, with a 10% decline in investment volumes versus steeper drops in office and logistics sectors. This stability has been driven by strong performance in Southern European markets, particularly in Italy, Spain, and Portugal, alongside a robust UK market.
Analysts noted a shift in investment strategies, with emphasis on operational excellence and consumer engagement. Retail footfall increased by 4% in 2024, reinforcing the importance of adaptable and high-performing spaces.
Inclusivity and Community Engagement
Inclusivity remains a critical component of modern retail projects. Initiatives like Ingka Centres’ One Drop Store in China and Spain’s Free Form Style brand demonstrated how businesses can combine social impact with commercial success. Free Form Style, which designs clothing for individuals with disabilities, exemplifies how inclusive approaches can drive brand loyalty and innovation.
Didier Roche, founder of Dans le Noir?, shared how his restaurant concept—where diners eat in complete darkness—has not only created unique customer experiences but also promoted inclusivity by employing visually impaired staff.
AI and Technology in Retail
Artificial intelligence (AI) and digitalisation were central topics at MAPIC 2024. Discussions highlighted how AI is reshaping customer interactions, marketing, and operations. Accenture Song presented use cases of AI-driven customer innovation, while Wishibam illustrated how small businesses can enhance agility through AI tools.
The rise of retail media as a revenue stream was another key topic. Experts from JLL and Sonae Sierra discussed how in-store data and personalised campaigns are transforming stores into media platforms. Retail media is now valued at $150 billion globally, with growth outpacing traditional advertising channels.
MAPIC Awards 2024 and After Party
The MAPIC Awards 2024 recognised achievements across the retail and property sectors, celebrating innovation and societal impact. Kayanee, a Riyadh-based wellness centre for women, received the Special Jury Prize for its focus on holistic well-being. Didier Roche, co-founder of Dans le Noir?, was honoured with the Lifetime Achievement Award for his efforts in redefining inclusivity in dining experiences.
Following the awards, MAPIC hosted a lively after-party on Wednesday night. The event was well-attended, offering participants an opportunity to network, celebrate, and unwind. With a vibrant atmosphere, it featured music and dancing, providing a social setting to build connections and share insights.
Looking Ahead
MAPIC 2024 demonstrated that the boundaries between retail, leisure, culture, and technology are increasingly blurred. Today, spaces are no longer defined solely by their physical structures but by the experiences they offer—spanning online searches, immersive stores, cultural encounters, and community engagement. The lines between retail and lifestyle are merging, creating a unified journey where customers seek not just transactions but meaningful experiences.
This evolution is vital for businesses, developers, and communities alike. As consumers yearn for creativity and connection, it is imperative for stakeholders to embrace adaptability and innovation. By fostering dynamic environments that inspire and engage, the industry can build resilience and remain relevant in an ever-changing landscape.
Next year’s event promises to delve even deeper into these trends and projects, offering insights into the future of retail and property. MAPIC continues to be a vital forum for exploring how creativity and experience will shape the industry’s path forward.
