Dutch builder MAB Development is abandoning plans to develop a shopping centre in the German city of Moers, located between Essen and the Dutch border. According to a statement issued by the municipality, the investor has announced its intention to withdraw from the EUR 100 mln retail project at the Königlicher Hof (Royal Courtyard) because the owner of a crucial plot is refusing to sell, thus blocking the project.

Dutch builder MAB Development is abandoning plans to develop a shopping centre in the German city of Moers, located between Essen and the Dutch border. According to a statement issued by the municipality, the investor has announced its intention to withdraw from the EUR 100 mln retail project at the Königlicher Hof (Royal Courtyard) because the owner of a crucial plot is refusing to sell, thus blocking the project.

'Unfortunately, no sustainable design can be implemented without this relevant piece of land', MAB wrote in a letter to the City of Moers. 'We very much regret that in spite of positive and committed negotiations with the government and the willingness of the remaining property owners the sustainable development of land has been prevented because of one site.'

MAB was the last remaining bidder for the mall after a decision by rival developer mfi to pull out of the project in October last year. Four investors had originally responded to a call by the city to develop a retail asset on the site.

'After elaborate council discussions we have striven to find a solution and we have failed. There are no large investors anymore that we can offer the project to,' said Mayor Norbert Ballhaus in the press statement.