ECE teams up with Renaissance on Russian mall

German retail specialist ECE is taking over the initial leasing and the centre management of the Aura shopping centre project in the Russian city of Yaroslavl.

Aura will comprise 60,000 m² of retail space across 220 shops on four sales levels, as well as 850 parking spaces on completion in the fall of 2013. Yaroslavl is a city of 600,000 inhabitants located 280 kilometres northeast of Moscow.

The mall, previously known as Golden Ring Gallery, is being developed with ECE's new partner Renaissance Development, which will be responsible for planning and construction. The development of the scheme is expected to start shortly. 'We are very glad having found such a strong and professional Investor and partner for this extraordinary development in Russia,' said Stefan Zeiselmaier, managing director of ECE's activities in Russia.

In addition, ECE has won the management contract for the GoodZone centre project in Moscow. Located in the Nagatino-Sadovniki southern administrative district, the scheme has a leasable area of 56,000 m² over 200 shops, as well as an entertainment area with cinema. Goodzone, owned by Immofinanz, is scheduled to open at the end of 2012.

ECE is advising the investor during the construction phase and will take over the centre management.