ARTICLES LABELLED WITH TAG shopping

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.

Decathlon, the world's largest sports retailer, is now entering Serbia. Partnering with BIG CEE group, the retailer plans to open its first store in Q2 2019 at Big Fashion Park Belgrade.

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.

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.