ARTICLES LABELLED WITH TAG shopping

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

Aberdeen Asset Management has sold the King Cross shopping centre in Zagreb to SES Spar European Shopping Centers. The transaction price has not been disclosed.

Robust GDP growth, wage rises and price inflation are the drivers of retail sales across the CEE region, says Colliers International in its latest research report. Key findings of the report include:

The leasing department of Echo Investment finalised the lease of the last unit just before the opening of an extended part of Galaxy in Szczecin. Echo Investment is responsible for the construction and lease of the facility for EPP which is the owner and manager of Galaxy.

The total floorspace in shopping centres across Europe increased by 1.17 million sqm to 160.8 million sqm at the midpoint of 2017, according to Cushman & Wakefield. Since the beginning of 2017, a total of 57,850 sqm of new shopping centre space has been completed in the Czech Republic. The figure includes the extension of IGY České Budějovice by 9,250 sqm, an extension of the Chodov Centre by 35,000 sqm and the newly built Central Jablonec with a floor space of 13,600 sqm. This represents a 67% growth over the previous year. However, the market will deliver markedly less shopping centre space next year. According to current information, just one shopping centre will be completed – the Géčko in Ostrava. By contrast, several major projects will open after 2019.

The developer of Bucharest’s Veranda mall will begin work on expanding it one year after inauguration, zf.ro reports.

NEPI Rockcastle has acquired Alfa Centrum shopping centre in the city of Bialystok in Poland from A-JWK Management sp. z o.o. The aggregate purchase price for Alfa Bialystok was €92.3 million, representing an acquisition yield of approximately 6.7%.

Deutsche Hypothekenbank is financing the Galeria Baltycka shopping centre in Gdansk for real estate company Shopping-Center Galeria Baltycka GmbH und Co. KG sp.K. The financing volume amounts to almost €81 million, of which 50% will remain with Deutsche Hypo on a long-term basis.

NEPI Rockcastle has invested nearly €30 million in the expansion and modernisation of Shopping City Galati and the first brands that will appear following the expansion will be inaugurated on November 16. An additional 21,000 sqm was added to the 27,000 sqm shopping centre.

The ParkLake shopping mall in Bucharest, developed by a joint venture of Sonae Sierra and Caelum Development, has received a BREEAM certification with a rating of ‘Excellent’.