MAB and Neinver pump €120m into new Dutch factory outlet centre

Dutch developer MAB and Spanish factory outlet developer Neinver are injecting €120 mln in a new factory outlet centre in Halfweg near Amsterdam.

MAB expects to start construction of the new Style Outlets in 2014, the company’s managing director Jan Eijkemans told a press conference on Friday. Under the plans, the new complex will comprise a 25,000 m2 factory outlet and a 4,000 m2 supermarket.

As reported earlier, the Style Outlets will arise in SugarCity, a former sugar factory which is being redeveloped by Cobraspen. Part of the complex has already been redeveloped - two silos have been converted into offices.

Final planning approval is yet to be obtained, but Eijkemans does not foresee any major problems. ‘We expect some resistance, but eventually we expect to get the green light. Otherwise we would not have stepped into this project.’

Under the partnership agreement, MAB will be responsible for the development of the centre while Neinver will take charge of leasing and management.

The new factory outlet centre will create 3% more retail space in the region and 500-600 direct jobs. Following the project's completion, the Dutch market for factory outlets will likely be saturated, Eijkemans said.

MAB and Neinver have already jointly developed a factory outlet centre in the French town of Roppenheim as part of their partnership in France and Germany.