Commerz Real opens Malmo Entre shopping centre

German real estate investment group Commerz Real has announced the opening of the 40,000 m² Malmo Entre shopping centre in the southern Swedish city of Malmo.

Commerz Real acquired the project development in 2006, and earmarked it for its open-ended real estate fund 'hausInvest global.' The total investment volume equals approximately EUR 150 mln.

'We are expecting the Malmo Entre to become a sustainable success, 'said Hans-Joachim Kuhl, member of the board of Commerz Real and in charge of real estate acquisitions, during the opening ceremony on 19 March. 'Malmo is a region defined by dynamic growth, showing a rise in population and above-average spending power. As a result, we believe in the long-term strength and attendant opportunities of this market.'

The nearly fully let complex - consisting of two new buildings and an existing redeveloped building - includes recreational facilities such as cinemas, a gym, and bowling alleys, among others, as well as a small number of apartments.

Malmo Entre, true to its name, fulfils a gateway function on the north-western edge of downtown Malmo, according to Commerz Real. The scheme has created or will create about 700 new jobs.