News Article Budapest Hungary reconstruction renovation retail shopping Wing
by Property Forum | Retail

Hungarian developer Wing is set to start renovation works on the EuroCenter shopping centre in Budapest in the spring of 2021 with reopening scheduled for the spring of 2022. In addition to the international fashion brands, the shopping centre will offer its future visitors a diverse range of services, a renovated cinema, culinary experiences and a roof garden.

EuroCenter in Budapest’s District 3, was purchased by Wing in 2018. This is the company's fourth mall development project after successfully completing Agria Park in Eger and Hegyvidék Mall and MOM Park in Budapest.

The renovation of EuroCenter is justified by the fact that the purchasing power index of District 3 and the associated agglomeration well exceeds the national average, and the area is going to develop further thanks to residential parks, office buildings and multifunctional projects planned or under development.

The vast majority of the centre’s stores will close on April 3, 2021, Saturday evening, while the hypermarket and the car wash are expected to close during May. The renewed shopping centre of a leasable area of ​​about 25,000 sqm is planned to offer its customers services on the gallery floor, which is to be expanded, and a renewed food court, a cinema and international fashion and accessories stores on the first floor from the spring of 2022. The re-opening Interspar on the ground floor will also be completely renovated. Among other things, an Interspar to Go is going to be set up in the hypermarket.

“Being a developer, our primary goal is to create lasting value both in Hungary and abroad. This principle guides us throughout the architectural and functional renewal of EuroCenter, too. This development shall make a quality shopping experience available for North Buda. Focusing on people, we are going to create a modern and demanding complex that, in addition to the expectations of the present age, also reflects new trends. When customers walk into a mall these days, they want not only to get things done as quickly as possible but also to spend quality time, perhaps with their families and friends. This is what our latest project reflects,” says Noah Steinberg, CEO of Wing.