Hungarian real estate developer and investor Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Socimi Merlin Properties. The amount of the transaction has not been disclosed, Forbes reports.
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.
Retail centres face pressure from different angles and most of them have started refurbishment programs including energy efficiency investments. Is that enough or do they need to invest more to keep up? Property Forum asked Judit Balatoni, Secretary General of the Hungarian Council of Shopping Centres (HCSC) about the ways operators meet current challenges.
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.
Cushman & Wakefield has taken over the management of a portfolio of three shopping centres and one retail park in the Czech Republic. Hungarian investment group Adventum Group bought this portfolio from Tesco last year in a unique transaction involving 18 retail projects across the CEE region. Cushman & Wakefield assisted its long-standing client Tesco in the sale and is now managing and exclusively leasing 50,000 sqm of retail in the Czech Republic space for Adventum.
Cushman & Wakefield has taken over the management of the Atrium Flora shopping centre in Prague Vinohrady, owned by G City Europe (formerly Atrium European Real Estate), as of 1 January 2023.
Consumer behaviour is changing and shoppertainment is a big opportunity to continue to generate engagement and drive loyalty. Outlet centres can offer a wide range of branded goods and a variety of excitement for the whole family in our turbulent times, Csaba Imre, Country Manager of ROS Retail Outlet Shopping, the operator of Premier Outlet Centre in Biatorbágy, Hungary explains in our latest interview.
Wood & Company has increased its stake in the Bratislava shopping centre Aupark by 27%. Currently, Wood & Company and TAM own 87% of the asset. The stable annual performance of over 11% is now confirmed by Wood & Company's real estate funds.
Romanian developer Iulius and its partner Atterbury Europe have secured a financing deal worth €410 million for its national network of shopping centres in four Romanian cities.
Coci E-Motion, a Polish electric bicycle manufacturer, leased over 4,200 square meters of space within City Logistics Warsaw IV in Annopol by Pannatoni. Cushman & Wakefield advised Coci E-Motion during the negotiations.
Another brand from the CCC Group portfolio has joined the tenants of Galeria Sudecka in Jelenia Góra. The new CCC store will occupy 725 sqm of space. Customers can also do their shopping at the new Rossmann drugstore (450 sqm).
The EPP-owned Galaxy shopping centre in Szczecin is strengthening its offer by developing its partnership with HalfPrice. The relaunched showroom now has a wider assortment and larger floor space - about 3,200 sqm.
New appointments
Daniel Rutkowski joined Walter Herz Investment Advisory Department, currently consisting of six people, and took the position of Development Manager. He will be responsible for searching for and acquiring investment projects, developing investment potential analysis and building the value of real estate.
Dariusz Proniewicz has joined MDC2's team of experts to take on the position of Development Director BTS, with responsibility for the development of BTS investments.
Karol Czupryński has joined the management board of Empik. He will take the position of Chief Commercial Officer. Czupryński has previously worked at Allegro, Procter & Gamble and Boston Consulting Group, among others.
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