Shopping Centre News, 8 September 2021

Vicinity Centres has announced a new relationship with Taronga Ventures, Asia’s leading technology and innovation investor, that will connect one of Australia’s largest retail property groups with technology that is revolutionising the retail sector.

Vicinity Centres joins some of the world’s largest real estate firms, including PGIM Real Estate, CBRE, Patrizia AG, Grosvenor Group, Mitsubishi Corporation and Dexus in the investment.

The investment will provide Vicinity access to new and innovative technologies, positioning it at the forefront of the evolution of global retail and complementing its fast-growing, in-house new product development program that has so far delivered an industry-leading solar energy program, data science capability and centre-based distribution solutions.

Vicinity Centres CEO Grant Kelley, said: “This is an exciting time in the evolution of our industry with technology and innovation unlocking future growth in the dynamic and fast-paced retail property environment. By investing with global leaders such as Taronga Ventures, we are ensuring we are in the best position to access these new technologies and to deliver sustainable value for our securityholders and communities.”

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