Multi Corporation, a pan-European fully integrated retail real estate service platform, recently acquired the asset and property management of Allee Centre. This shopping centre is located in the city-centre of Budapest and includes 46,700 sqm of retail space. Multi’s centre management team took over the management of Allee Centre on 1 January 2018, marking Multi’s first entry into the Hungarian retail real estate market. This is the fourteenth country in which Multi Corporation is developing its operations.
“The management contract for the Allee shopping centre in Budapest is the company's first step in the development of business operations in Hungary. It also a major step in our drive to strengthen Multi’s position in the comprehensive management of commercial real estate right across Europe. Our strategic goal in Hungary is to develop Multi’s portfolio in the management and development of commercial facilities. The Hungarian commercial real estate market offers us enormous potential for a long-term stable increase in the value of the facilities we manage,” says Barbara Topolska, Managing Director Central & Eastern Europe at Multi.
As of January this year, Multi Hungary is responsible for the full management of Allee, including leasing and marketing, on behalf of the owners of the shopping centre, Allianz, represented by Allianz Real Estate and CBRE GIP on behalf of a client.
Allee is a popular shopping centre in the capital of Hungary, located in the historical district of Buda. With a total area of 53,100 sqm., Allee boasts more than 130 stores of popular brands, restaurants, offices, a 13-screen multiplex Cinema City cinema and a Gilda Max fitness club. The occupancy rate of the centre is currently close to 100%. Allee attracts more than 18 million shoppers each year. The Allee shopping centre offers parking for 1,200 cars, with an electric car charging point on all parking levels.
Multi Corporation is a Pan-European retail asset management, centre management and (re)development company. It currently owns and manages over 120 retail real estate assets across Europe. These include assets from our own portfolio and retail assets owned by institutional clients. Multi’s assets are segmented in a portfolio of shopping centres, outlet centres, retail parks and grocery-anchored centres. Multi is committed to its projects as long-term investments, whether these are part of Multi’s own portfolio or projects managed on behalf of institutional investors.
Multi operates in 14 countries, including the Netherlands, where it is headquartered and Belgium, Germany, Hungary, Ireland, Italy, Latvia, Poland, Portugal, Slovakia, Spain, Turkey, Ukraine and the United Kingdom.
