GE Real Estate has acquired a shopping centre in the western Slovak town of Nitra from local developer EuroMAX Slovakia for EUR 23 mln. The mall, anchored by local food chain Terno, provides some 15,000 m[sup]2[/sup] of retail space including 90 stores and a multiplex cinema.

GE Real Estate has acquired a shopping centre in the western Slovak town of Nitra from local developer EuroMAX Slovakia for EUR 23 mln. The mall, anchored by local food chain Terno, provides some 15,000 m2 of retail space including 90 stores and a multiplex cinema.

Opened in December 2006, this is the fourth regional shopping centre developed by EuroMAX and acquired by GE Real Estate between 2006 and 2007. The other centres are located in Trnava, Trencin in the west of the country, and the city of Poprad in the north.

Karim Habra, GE RE's managing director for central and eastern Europe, said: 'This transaction further demonstrates our commitment to Central Europe and our underlying strategy for growth in the region. The retail market is strengthening across Central and Eastern Europe and we believe that Slovakia will continue to benefit from this trend.'