ARTICLES LABELLED WITH TAG retail

The open real estate fund Investika purchased the Galerie Butovice shopping centre located in the popular office area Nové Butovice in Prague 5. CBRE advised Investika on the acquisition.

Over the last decade, the country's retail sector has grown by nearly 40%. The increasing maturity of the sector has changed how new stock is distributed and has motivated landlords to diversify their offer. JLL summarised conditions on Poland's retail market.

Challenges and changes in the retail sector are continuing to impact the dynamics of the European shopping centre market with new research from Cushman & Wakefield showing development activity across the continent is strongly polarised at both a country and city level.

Multi Poland has been appointed by Union Investment to provide property management services for two shopping centres in Poland, Ferio Konin in Konin and Sarni Stok in Bielsko-Biała, as of 1 October 2019. The agreements include full centre management, leasing and marketing.

Expo Market Doraly, one of Romania’s largest shopping parks specialized in home items and food products, located in Afumati, near Bucharest, announced plans to develop a 10,000 sqm retail park following a €6 million investment.

Consumers and agricultural producers in Montenegro will benefit from the further expansion of Voli, the country’s leading supermarket chain and one of the biggest purchaser of local produce, thanks to a €10 million loan provided by the EBRD. The funds will finance the opening of four new Voli stores, including a supermarket and a convenience store, and the refurbishment and expansion of five existing stores.

The Asset Services department of Cushman & Wakefield Echinox has taken over the administration of the Colosseum shopping centre since October 1st, thus expanding its portfolio in Bucharest with a project in full expansion.

JLL has completed the first phase of the modernisation of the Liberty Center shopping centre in Bucharest, owned by three banks (Alpha Bank, Bank of Cyprus and Eurobank) following the insolvency of developer Mivan Kier. Occupancy rate at Liberty Center has reached 91%, following a €400,000 investment.

NEPI Rockcastle has announced the acquisition of a 200,000 sqm land in Craiova and plans to construct one of the biggest retail projects in the region of Oltenia. The value of the investment is estimated at approximately €110 million and the construction will start after obtaining all the necessary approvals.

Ceetrus has unveiled plans for its Góraszka Project which the developer has dubbed an innovative retailtainment destination with a GLA of 77,000 sqm. It will be a premium location for the inhabitants of south-eastern Warsaw for shopping and spending time with family and friends. The facility is expected to be completed by 2022. Ceetrus is open to cooperating with new investors, the press release adds.