ARTICLES LABELLED WITH TAG mall

The construction works of Etele Plaza has begun next to the Kelenföld railway station at the western gate of Budapest. As Futureal Group’s latest commercial development, the shopping and entertainment centre with a gross building area of 155,000 square meters will be the biggest of its kind on the Buda side of the city. The mall, combining unique architectural solutions and digital services will feature more fashion brands in one place than any other shopping centre in Hungary.

ECE plans to develop a new shopping centre in Budapest. The project area is located in the North-western part of the Hungarian capital, close to the Danube River, on the site of a former textile factory in the Óbuda district. It is planned to have over 170 shops on three levels and a leasable area of more than 50,000 sqm. Construction start for the project is scheduled for 2019, and the opening is planned for 2021.

Atrium European Real Estate Limited has entered into an agreement to sell Atrium Militari shopping centre in Bucharest, Romania to MAS Real Estate Inc., for €95 million, representing a 9% premium to book value on 31 December 2017. The transaction is subject to the fulfilment of certain conditions precedent which are expected to be finalised by the end of the third quarter of 2018.

GTC continues its growth strategy and further expands its portfolio in Sofia. The developer and asset manager purchased Mall of Sofia, a prime shopping centre and office tower in Sofia’s Central Business District, seizing opportunity in the growing economy in Bulgaria. The property was formerly owned by Europa Capital.

pbb Deutsche Pfandbriefbank provided an investment facility of €74 million to companies owned by Newbridge for the acquisition of three shopping malls in Poland, namely Bielawy in Toruń, Guliwer in Łódź and Czyżyny in Kraków.

CPI Property Group announced the acquisition of Futurum Hradec Kralove Shopping Centre from Meyer Bergman, a privately held real estate investment management firm.

NEPI Rockcastle has started construction works on a new shopping mall in Satu Mare. NEPI’s eighteenth shopping centre in Romania is expected to be inaugurated at the end of 2018.

Retail space deliveries will accelerate towards 200,000 square meters in 2018, as new projects and extensions are scheduled in ten medium-size towns and cities across Romania, but no significant delivery is scheduled in capital Bucharest this year, according to reports released by Cushman & Wakefield Echinox.

S Immo has completed the upgrade of the Sun Plaza shopping centre in Bucharest and reopened all reconfigured areas to the public. The €30 million remodelling has added 11,000 sqm of new retail space to the shopping centre.

By the end of 2017, total retail stock in the Warsaw agglomeration amounted to 1.76 million sqm, of which shopping centres accounted for 1.2 million sqm. Other formats include retail parks (276,000 sqm), standalone retail objects (212,000 sqm) and outlet centres (57,000 sqm). Approximately 85,000 sqm of space was delivered to the Warsaw retail market last year with the largest completed object being Galeria Północna (64,000 sqm). Furthermore, the saturation level in the shopping centre format totalled 472 sqm / 1,000 inhabitants and was the third lowest rate among the eight major metropolitan areas nationwide. JLL summarised 2017 on the retail market in the Warsaw agglomeration.