Italian shopping center market shifts focus to asset redevelopment

The Italian shopping center sector has reached a stage of maturity and stability, according to the Retail Real Estate Overview 2026 research conducted by Reno for Confimprese. The report indicates that there are currently 1,006 active shopping centers in Italy, representing a 0.5% increase from 2025.

Rather than focusing on the construction of new facilities, the market is shifting toward the redevelopment and expansion of existing assets. Recent openings include the Waterfront Mall in Genoa, the Fass Shopping Centre in Elmas (Cagliari), and the Galleria Porta Vittoria in Milan. Additionally, the Iper Tosano in Brescia reopened following a redevelopment project.

Mario Resca, president of Confimprese, noted that value in this mature market is no longer driven by the quantity of new openings, but by the ability to enhance existing property through innovation and regeneration. This strategy aims to create value for retailers, investors, and consumers by increasing dwell times and maintaining stable rental rates.