ARTICLES LABELLED WITH TAG mall

In 2025, deliveries of over 200,000 sqm of new retail space are expected in Romania, of which almost half will be shopping malls, according to a report by Colliers Romania.

TSH Investment, a joint venture between Bulgarian investment companies Trinity Capital AD and Hus Invest EAD, has purchased shopping mall Park Center Sofia  from Revetas Group, for an undisclosed sum.

Real estate developer Prime Kapital has opened Argeș Mall, a new shopping centre spanning 77,000 sqm in Pitești.

SES is refurbishing the King Cross shopping centre in Zagreb, Croatia which it has owned and managed since 2018. Construction work to completely refurbish the centre will begin in 2024 following an investment of approximately €40 million. Completion is scheduled for autumn 2025.

The number of photovoltaic surfaces installed on SES shopping malls is constantly increasing. This year, SES has invested in the construction of photovoltaic systems in the five Slovenian shopping centres, namely Aleja, Citypark and Center Vič in Ljubljana, Citycenter Celje and Europark Maribor. The systems, boasting a total output of 4,300 kilowatts, have been in operation since July and August. They cover around one-fifth of the centres’ electricity requirement with a 1,200-ton saving in terms of CO2 emissions. The SES climate objective to fit photovoltaic systems on at least 50 percent of its available mall roof surfaces by 2040 has therefore already been achieved or exceeded to a significant extent in Slovenia. SES is currently operating four photovoltaic systems in Austria. An additional three locations are scheduled to be equipped with these systems by the end of the year.

Amadeus Real Estate in Prague is reconstructing a cultural monument from the 1970s - the OD Máj department store. According to the developer's estimate, the reconstruction, which is being carried out by the construction company Metrostav, will cost CZK 4 billion, i.e. €166.7 million. OD Máj should be reopened within a year and should offer a restaurant with a view in addition to shops and a gallery, reports ČTK.

The total stock of retail park spaces in Romania will exceed the supply of commercial spaces located in shopping malls if the current investment activity continues, according to a report by real estate consultancy Fortim Trusted Advisors, member of the BNP Paribas Real Estate Alliance. 

Revetas Capital announced a 29% increase in turnovers and an 18% increase in footfall for the first 8 months at Park Center Sofia, Bulgaria, compared to the same period in 2021.

At the end of June 2022, the supply of modern retail space in the Czech Republic amounted to almost 3.97 million sqm. Shopping centres take about 67%, retail parks 31% and outlets the remaining 2% of the market. During the first six months of 2022, the retail park construction boom has not stopped yet and the retail market expanded by 19,500 sqm. Over the last five years, the share of retail parks has increased by 5%. The largest completed project in the first six months of this year was Shopping Centre Řepy in Prague. Another 52,300 sqm of retail space is currently under construction across 12 projects, of which 31,200 sqm is expected to be completed this year, says JLL in its retail market report for Q2 2022.

Austrian real estate group Supernova has added four MAX shopping malls to its portfolio of eleven OBI supermarkets in Slovakia. The transaction, without mentioning the price, was reported by the news website reality.trend.sk.