Join Craig Smith and Winston Norman on the Coffee with Craig Show for your daily dose of CRE news in the CEE region, brought to you by EuropaProperty.com.
FASHION HOUSE Outlet Centre Pallady Expands
FASHION HOUSE Outlet Centre Pallady in Bucharest inaugurated its second phase on June 25th, adding 5,700 sqm of space. The expansion brings new brands like adidas, Tommy Hilfiger, and Calvin Klein, increasing the total area to 14,000 sqm. With a €45 million total investment, the centre now offers over 45 outlet stores with year-round discounts of 30-70%.
Brendon O’Reilly, Managing Director of FASHION HOUSE Group and Liebrecht & wooD Romania, commented “With the new renowned brands joining the Center, we continue to offer our customers a unique shopping experience, offering the opportunity for a city-break for smart shopping just a few minutes from the city. FASHION HOUSE Pallady thus becomes a main destination for all those looking for quality products at affordable prices.”
SES and Vinzenz Gruppe Partner for Health Parks
Austrian shopping center operator SES and healthcare expert Vinzenz Gruppe Service have formed a joint venture called “TWOmorrow Gesundheit GmbH” to develop health parks in select SES malls. This partnership aims to enhance regional healthcare provision by integrating medical services into shopping centers, pending antitrust approval.
“We need to establish modern and sustainable healthcare where people spend their everyday lives”, says Dr. Michael Heinisch, CEO of the Vinzenz Group. “The SES shopping malls are such meeting and living spaces where we can provide the population with health and prevention services in a simple and uncomplicated way.”
“Health is our greatest asset and healthcare is one of the most pressing issues in our society,” adds Marcus Wild, SPAR Board Member for Real Estate and Innovation. “
Eika Asset Management Invests in Warsaw Logistics Project
Lithuania’s Eika Asset Management has partnered with Polish developer Waimea Holding to invest in industrial developments in Poland. Their first project near Warsaw’s Modlin Airport will involve a €25 million investment for 38,000 sqm of warehouse space in its initial phase, with potential for 117,000 sqm upon full completion. The BREEAM-certified project targets logistics and light manufacturing tenants.
“In Poland, logistics rental prices had started to rise sharply in 2022 and 2023 due to insufficient supply of modern logistics space. The current reality is that construction prices in Poland are significantly lower today, which allows new projects to offer competitive rental prices while maintaining investment returns,” says Paulius Stulgaitis, Head of EAM Investments.
