Futureal has sold its Sziget Center shopping mall in Hungary to OTP Property Investment Fund as part of the deal that also saw the purchase of the Skypark office building. After a successful repositioning, the 23,600 sqm center located on the outskirts of Budapest has managed to lure high-profile tenants and tripled its lease income over the last two and a half years.
Futureal purchased Sziget Center in 2014. Since then the shopping mall was successfully repositioned and has gained a well-balanced tenant mix. In the last three years the center has attracted several international tenants increasing the leased area by over 9,000 sqm. Among these newcomers there are international clothing store operators C&A and H&M, the decor and furnishing chain Jysk; clothing and household goods network Pepco, household products and cosmetics distributor Euro Family and electronics retailer Euronics.
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