Europ Invest to plough EUR 400m in new outlet projects

Belgian retail property company Europ Invest has unveiled plans to develop eight new retail outlet centres in Italy, Croatia, Greece and Morocco covering a total retail area of over 150,000 m². The company, headquartered in Maasmechelen, Belgium and with offices in Italy, expects total investment for the centres to amount to some EUR 400 mln.

In Pavia, near Milan, Europ Invest plans to develop the Vigevano Lifestyle Park retail outlet scheme, offering 55,000 m² of retail space. Phase I, consisting of 20,000 m² and 100 shops, is expected to open its doors by 2011. In September the company also delivered Phase I of the Città Sant’Angelo Village located near Pescara, in Central Italy. The scheme, with 22,000 m² of retail space, is said to be the first retail outlet centre in the Abruzzo region of Italy. Cittá Sant'Angelo represents an investment of EUR 110 mln and will offer up to 30,400 m² on completion of Phase II. Europ Invest is planning a third Italian centre to be built near Florence, with the first phase due for completion by autumn 2010.

The company has also unveiled plans for a 20,100 m² outlet centre in Croatia, located 40 km from Zagabria, as well as a 30,000 m² retail village about 60 km from Athens, Greece. Phase I of the Croatian Kriz Village offering 9,200 m² of space is expected to be completed by autumn 2010, Europ Invest said. The complex will consist of a total of 47 shops, while the centre in Athens will offer 130 shops and 2,800 parking spaces.

Europ Invest has developed a number of retail centres since its foundation in 1980. These include Belgium's first outlet village in Maasmechelen, as well as Italy's Serravalle and Valdichiana outlet villages. In November the company also opened the Dison outlet scheme, providing 21,000 m² of retail space in the Belgian city of Dison.

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