ICSC: International Council of Shopping Centers

European Public Affairs

ICSC European Public Affairs

ICSC is committed to maintaining a coherent voice on behalf of our members at the heart of Europe and actively engages with the European institutions and stakeholders. Our European public affairs work is overseen by the ICSC European Public Affairs Committee (EPAC) which engages with the European institutions to advocate on behalf of ICSC members and provides a voice for the retail real estate industry in Brussels. EPAC members meet quarterly in Brussels. The Committee’s remit is to:

  • Act as an industry champion by raising the profile of ICSC Europe and its members amongst MEPs, Commission officials and industry stakeholders.
  • Lead the debate on policy issues arising from the European Union which impact the retail real estate industry.
  • Raise awareness of the economic contribution of shopping centres and the retail real estate industry.
  • Monitor EU legislation and provide timely policy guidance to our members.
  • Represent the sector at major events in Brussels.

The public affairs issues include but are not limited to the European Retail Action Plan, multi-channel retailing, energy efficient buildings, freedom of establishment, sustainable construction and finance and investment.

Find out more about the European Public Affairs Committee


The Socio-Economic Contribution of European Shopping Centres

ICSC presented its new report on “The socio-economic contribution of European Shopping Centres” during a thought-provoking panel discussion by industry leaders hosted in Hammerson’s new offices in Kings Place, London in July.

Panellists David Atkins, CEO of Hammerson Plc, Heino Vink, COO of Multi Corporation, Peter Wilhelm, CEO of Wilhelm & Co and Peter Todd, Executive Director at Resolution Property discussed the different elements that make the retail real estate sector the backbone of the European economy, as well as the importance of offering sustainable retail models, the different regulations for Sunday trading in Europe and the future of high street retail. The panel discussion was moderated by Art Patnaude, Real Estate Correspondent at The Wall Street Journal.

The report will be used to highlight the importance of the industry when meeting stakeholders and parliamentarians in Brussels. 

To read the full report in French, please click here


  • In addition to the half a trillion plus retail sales that are a major component of private consumption, the driver of European economic productivity, the industry is responsible for just under half the €48.7 billion of retail real estate investment over 2014.

The shopping centre industry represents an important source of secure, income producing investments for long-term institutional investors seeking assets with  duration-matching capabilities – especially in an environment of  extremely low bond yields.

According to the UK contractors Group, at 2.84, the industry has one of the largest economic multipliers: in addition to the direct impact of every £1 invested in development, an additional £1.84 of value add is generated indirectly through what remains a largely local supply chain and the induced benefits of increased employment, income and living standards in the community.

Shopping centres account for 1 in every 11 jobs in Europe, with above average female participation and youth employment rates. They are a critical source of flexible working opportunities, particularly attractive to senior citizens and students.

Retail Development in Historic Cities: Experience and Lessons of Urban Revitalization and Community Making

Modern retail developments are about much more than shopping. They are focal points for local communities and, thanks to the jobs and infrastructure they create, increasingly serve as vectors for the regeneration of urban areas, including historic city centres.

Through its projects in two UNESCO World Heritage cities – Lviv in Ukraine and Yaroslavl in the Russian Federation – the EBRD has gained expertise in developing retail centres in historic urban areas, in addition to its extensive experience of supporting retail projects in other cities throughout the Bank’s region of operations.

Now this expertise is available for others to use thanks to a new report that sets down some of the key findings from the Bank’s experiences in Lviv, Yaroslavl and other cities. The report, which was funded by the EBRD Shareholder Special Fund, also features examples of successful retail development projects financed by other agencies.

Click here to read the full report.

EurOpean Public Affairs News

A monthly newsletter 'ICSC in European Union' is circulated to ICSC members which describes our advocacy work in Brussels, the newsletter also updates members on key European policy and public affairs issues which may impact the shopping Centre industry.

View past issues

ICSC works in the EU to represent the interest of the industry. Learn more about joining ICSC and member benefits

European Real Estate Forum

ICSC is the part of the European Real Estate Forum, an alliance of organisations with an interest in institutional investment in European real estate, including investors, fund and asset managers,  property professionals and property companies.

Find out more about the European Real Estate Forum