ECE, DWS open new mall in Hungary

Germany's ECE Projektmanagement and its partner DWS have announced the opening of their €80 mln Árkád 2 shopping centre project in Budapest.

The scheme, which took 18 months to complete and required an investment of €80 mln, is located on the same site of the existing Árkád 1, making the complex the largest shopping centre destination in Hungary.

In total, the scheme offers 68,000 m2 of leasable area, with tenants including Interspar, Van Graaf, New Yorker, Hervis, Deichmann, and the Apple Premium Reseller 'iStyle'. It also provides 1,600 parking spaces.

'The visitors can look forward to a new point of attraction in the capital,' said ECE's CEO Alexander Otto.

Árkád 2's investors are ECE/the Otto family and a DWS closed-end real estate fund.

ECE holds the long-term management and leasing mandate for both Árkád 1 and Árkád 2. The malls have a catchment area of 1.3 million people.