ARTICLES LABELLED WITH TAG retail

Slight growth in logistics and retail space rents, despite no new mall expansion or openings being planned. These are the trends for the beginning of 2023, according to the latest report from Cushman & Wakefield Forton.

Preliminary agreement regarding the consolidation of Echo Investment's and Archicom’s residential business, high level of cash amounting to PLN 778 million, PLN 11.5 million in net profit which was mainly the result of the revaluation of Resi4Rent projects and handing over to customers nearly 300 apartments – this is a brief summary of Q1 2023 results of Echo-Archicom Group.

Property group NEPI Rockcastle has obtained a BREEAM In-Use V6 Excellent certification for Ploiești Shopping City as part of its strategy to upgrade its operations to the highest ESG standards. 

NEPI Rockcastle, Europe’s third largest listed owner, developer, and manager of retail properties by portfolio market value at €6.6 billion, recorded a 27% rise in net operating income (NOI) in the first quarter of 2023 to €120 million compared to the same period of last year.

Swedish furniture brand Ikea has opened an expanded order centre in Mall Galleria, Burgas. It features 140 sqm of retail space, a new kitchen designing studio with a showroom and four additional planning areas.

Mercedes-Benz has inaugurated the Silver Star complex on 52 Chelopeshko Shose, just outside of Sofia, Bulgaria. The complex is located in an area of 65,000 sqm, on two floors, and offers all sales and after-sales services for cars, trucks, vans, and buses.

Billa Bulgaria announced an investment of BGN 28 million (around €14 million) to open 12 new stores in the country and create 250 new jobs.

Benjamin Bettoun, Group Head of Asset Management at NEPI Rockcastle, talked to Property Forum at MIPIM about the company's investment strategy in CEE and the trends that are shaping the future of shopping centres. He also talked about the increasing demand for retail space in the company’s new mall in Craiova, Romania, slated for delivery at the end of 2023.

After 13 years of operation, Eurovea will become the largest shopping centre in Slovakia as its extension is set to open on May 25th. The centre reports an occupancy rate of 95% and promises to bring new brands and innovative concepts. The developer J&T Real Estate is now completing work on most of the buildings in the second phase of the Eurovea project.

French retailer Carrefour is in the final negotiation stage to fully purchase Cora’s retail network in Romania and the transaction will be signed later this day, according to ZF.ro.