German real estate investment group Commerz Real has announced the opening of the 40,000 m[sup]2[/sup] Malmo Entre shopping centre in the southern Swedish city of Malmo.

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.