August 01, 2014

Fonciere Euris finances Mayland’s Serenade investment in Krakow

Fonciere Euris finances Mayland’s Serenade investment in Krakow

Fonciere Euris Group will finance the construction of Serenade shopping centre being developed by Mayland Real Estate in Krakow. The amount of the investment is estimated at €140 million, and the centre is expected to open in 2016.

Fonciere Euris has been financing large commercial developments in Poland for some years including Manufaktura in Lodz as well as Mayland’s Riviera in Gdynia.

"After the completion of the Riviera Centre in Gdynia, which opened in October 2013, we are pleased with the confidence the Fonciere Euris Group has once again shown our company,” said Maciej Kiełbicki, Managing Director of Mayland Real Estate. “Serenade, in many ways, is similar to that project and has a chance to become one of the most attractive shopping and entertainment centres in Krakow.”

Serenade will rise in Krakow’s largest shopping and entertainment area in the northern part of the city, where there is already a Real hypermarket, OBI, Toys'R'Us, McDonald’s, Norauto, a 12 screen cinema and a large water park. The Serenade centre will complement this offer with 43,000 sqm of GLA, focusing primarily on the missing operators there – including the fashion and catering industries.

The project is currently 40 percent leased.

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