Futureal takes full ownership of Polish mall

CEE developer Futureal Group has acquired full ownership of the NoVa Park shopping centre in the western Polish city of Gorzow Wielkopolski.

The project was developed as a joint venture between Futureal Group and Caelum Development, a Warsaw-based company established by a group of private Irish investors. Futureal has now acquired the 50% stake held by Caelum for an undisclosed sum.

Futureal, which is based in Budapest, Hungary, said that its takeover of the centre was motivated by a 25% increase in year-on-year footfall and turnover figures, 'solidifying Nova Park's position as the dominant shopping centre in the whole Lubuskie voivodeship with over 1 million inhabitants'.

Opened in April 2012, NoVa Park is the largest shopping centre of this type in Gorzów Wielkopolski and in the whole Lubuskie Voivodeship region. It houses over 140 retail units on 32,400 m2 of GLA. Tenants include H&M, Bershka, Stradivarius, C&A, KappAhl, Intimissimi, Deichmann and Intersport.