Multi enters Hungarian retail real estate market
Multi recently won the international tender for the asset and property management of Allee Centre. This shopping centre is located in the city centre of Budapest and includes 53,100 sqm of retail space. Allianz, represented by Allianz Real Estate and CBRE GIP on behalf of a client, are the owners of this prime shopping centre. Multi’s centre management team took over the management of Allee on 1 January 2018, marking Multi’s first entry into the Hungarian retail real estate market.
Josip Kardun, CEO Multi Corporation, commented: “The addition of Allee Centre fits perfectly in Multi’s strategy to extend its activities in the field of asset and property management and to be one of the leading property management platforms in Europe. We have over 35 years of retail expertise and a retail service platform in 14 European countries. We are a service machine, and we get involved in every single aspect of an asset to realise concrete value and tangible returns for our landlords.”
Allee Centre, which opened in 2009, is located in the historical district of Buda and is one of the top shopping centres in Hungary. It is home to 142 stores, has an occupancy rate of almost 100 percent and attracts more than 18 million visitors each year. Anchor tenants include strong national and international chains, such as GAS, X-Class, Playmax, H&M, Zara, Van Graaf, C&A, Intersport, Deichmann and Nespresso. It also boasts a 13-screen multiplex cinema, restaurants, offices, a fitness club and parking for 1,200 cars.