Retail development pipeline with a development budget in excess of €245m has been secured to date, including two retail value centres and five Kaufland value extensions in Romania as well as a mall development in the centre of Ljubljana, Slovenia. In addition, the development pipeline includes office, hotel, residential and public logistics infrastructure components with a development budget of approximately €128m.
- Large-scale development project in the heart of Slovenia’s capital Ljubljana in partnership with the Slovenian Railways, the Republic of Slovenia and the city of Ljubljana.
- 59 000 square metre gross lettable area (“GLA”) mall and 21 000 square metre GLA of A-grade offices and a hotel in addition to the development of public logistic infrastructure.
- Catchment area of approximately 305 000 and 560 000 within 15 and 30 minute drives respectively.
- Slovenia benefits from significantly higher per capita purchasing power than other CEE countries and yet Ljubljana lacks a large modern and centrally located mall.
- Emonika benefits from a prominent and highly visible central location.
- A retail value centre development in Ploiesti, Romania.
- 25 600 square metre GLA retail value centre with a high concentration of anchor tenants.
- Ploiesti, with 210 000 inhabitants and the capital of Prahova county, is placed centrally in the larger urban agglomeration north of Bucharest that is home to a population of approximately 750 000.
- The property benefits from a catchment of 96 000 residents within walking distance and 565 000 residents within a 30 minute drive.
- Major anchor tenants have already expressed a strong interest in the project and consideration is being given to expanding the planned scheme.
- A value centre development in Balotesti, Romania.
- The development will be integrated with Hornbach and the new planned Lidl on the adjacent sites, extending the combined 18 000 square meters GLA of these two operators by an additional 28 000 square metres of GLA in the first phase, with a substantial further extension to be developed at a later stage.
- Catchment analysis indicates a population of 85 000 and 137 000, respectively, within 15 and 30 minute drives.
- Balotesti, a rapidly developing affluent residential area, is approximately 25 km north of Bucharest.
- Tenant negotiations are progressing well and include discussions with two international hypermarket groups, as well as various international fashion and other discounters.
- Development of five convenience value extensions in various cities cross Romania.
- 20 000 square metres GLA of convenience value extensions to be integrated with the existing Kaufland mini-hypermarkets.
- Kaufland is the leading food retailer in Romania, with more than 100 well located owned and operated stores generating over €2.2 billion in annual sales.
- Approximately 70% of the planned extensions have been pre-leased to tenants including Deichmann, Jysk, Noriel and Pepco.
- The first three of these developments are expected to complete in 2017.