ARTICLES LABELLED WITH TAG retail

Hungarian real estate developer and investor Indotek Group has closed the purchase of a downtown shopping centre in Budapest, online business site Portfolio reports, citing Cushman & Wakefield, the main assistant of the deal.

By 2024, the REALIA fund has stepped in with a new acquisition, this time the Hustopeče retail park in South Moravia. The retail park is fully leased with an average length of leases exceeding 6 years.

The Máj department store, whose reconstruction has been running since July 2022, is planning its reopening to the public in June 2024, reports E15.cz.

LCP Properties has officially opened its 48th retail park under the M Park brand in Poland, which is also the fifth in the Pomeranian region. M Park Reda has a total of 4,433 sqm of GLA space with 13 tenants. Development works began in mid-May 2023, and the general contractor of the project was STB Budownictwo.

UAE-based property developer Eagle Hills plans to build a completely new city centre in Budapest. Plans contain several highrise offices, residential and retail units, including the tallest tower in Europe.

The retail park in Przeworsk (Rock Park), which had its grand opening at the beginning of February this year, is undergoing a change in ownership after just a month of operation. The seller is RockCapital, and the buyer is ME Invest, a company owned by TERG S.A., the owner of the Media Expert chain. The Avison Young investment team represented the seller in the transaction process. The price has not been disclosed.

NEPI Rockcastle has a development and refurbishment pipeline of more than €650 million in 2024 across Central and Eastern Europe (CEE), which is the biggest retail investment program in the region.

Local retail chain operator La Cocoș has opened its fourth hypermarket in Brașov. The company has leased 10,000 sqm for the new unit in the Brintex complex, in a deal brokered by Cushman & Wakefield Echinox.

The Polish shopping centre market is now considered mature as many retail malls were built in the 1990s and 2000s, that is before the technological boom in energy efficiency and during a period of significantly lower awareness of the issue. A wave of upgrades is coming, but they will not happen overnight due to high levels of refurbishment expenditure required. In the face of rising challenges of energy and heat consumption, experts from Cushman & Wakefield managing a large and highly diverse portfolio of shopping centres and retail parks provide valuable insight into the results of their frequently innovative and low-cost measures.

Romania’s retail stock is set to expand by around 90,000 sqm in 2024, of which more than half will be based in Pitești-based Argeș Mall. However, the development pipeline is strong for the 2025-2028 period, with a few large and dominant shopping centres expected to add several hundred thousands of leasable space to the local market, according to Colliers data.