Arena Plaza, Budapest’s and Hungary’s largest shopping mall, managed and exclusively let by Cushman & Wakefield and owned by a fund advised by Lanebridge Investment Management Limited, is currently undergoing a significant, strategic transformation.
The 65,000 sqm Arena Plaza, the country’s most recognised shopping centre with its outstanding tenant mix, accommodating more than 200 brands, is leading the way in enhancing the shopping experience by strengthening the presence of large international fashion brands while keeping the variety of successful local, national retailers which were part of the concept established at its opening in 2007, ensuring a vast array of choice for consumers.
Key deals forming part of this transformation, which is affecting about 30 stores, include, the Spanish Inditex Group choosing Arena Plaza for its new Massimo Dutti (600 sqm) unit, and the landlord enabling Zara to enlarge its existing store to 2,500 sqm and to relocate its Oysho (250 sqm) store to the ground floor of the building. H&M the Swedish fashion giant is also currently being expanded to 2,500 sqm and will offer an even wider range of products to its customers with a revived concept on two floors from September.
Cushman & Wakefield’s Project Management department is responsible for the complete fit-out of the new Zara unit.
Erna Balla Centre Manager at Arena Plaza, said: “We are extremely happy to have closed this brace of deals at Arena Plaza and to be the among the first shopping centres to welcome Massimo Dutti. These significant transactions and transformations show the enduring success of the scheme and the continued interest for premium shopping centre space from large international brands. We are confident that the new brand mix and reconfiguration will further increase the reputation of Arena Plaza and enhance the shopping experience for our customers.”
Viktória Szabó Partner, Head of Retail at Cushman & Wakefield Budapest, said: “The brands of the Spanish Inditex Group and H&M belong to the most well known fashion brands in Hungary. The fact that they are increasing their presence in several of the best performing shopping centres and high streets shows their success and their confidence in the Hungarian market. We are happy to have worked with them at Arena Plaza and hope to help them expand their Hungarian business even further.”