ECE Projektmanagement Budapest and Real I.S., the real estate asset management arm of German bank Bayern, opened an intercity shopping gallery in Gyor, Hungary on Friday. With 125 shops on 35,000 m[sup]2[/sup] of retail space, the Arkad Gyor has an investment value of EUR 100 mln. Real I.S. has placed the shopping centre in a closed-ended real estate fund that gives German private investors the opportunity to take advantage of the strong growth in the region.
ECE Projektmanagement Budapest and Real I.S., the real estate asset management arm of German bank Bayern, opened an intercity shopping gallery in Gyor, Hungary on Friday. With 125 shops on 35,000 m2 of retail space, the Arkad Gyor has an investment value of EUR 100 mln. Real I.S. has placed the shopping centre in a closed-ended real estate fund that gives German private investors the opportunity to take advantage of the strong growth in the region.
The centre has attracted significant tenants such as Interspar, Saturn, Zara, H&M and C&A. For the last two chains, these are their first Hungarian branches outside Budapest. Other chains with branches in Arkad Gyor include sports shop Hervis, Douglas, Esprit, S. Oliver, Orsay, Promod, Humanic, the drugstores dm and Rossmann, and the Hungarian retailers Jeans Club, Retro, and Griff.
ECE is responsible for the project development, general planning, leasing and long-term management of Arkad Gyor. It already operates two shopping galleries in Hungary: the Arkad Ors vezer tere in Budapest and the Arkad Pecs in Pecs. About 1,000 new jobs have been created in Gyor and the surrounding region during the course of the development. The shopping centre is easily accessible by public transportation and car, and has parking for 1,150 cars.
