Swedish property developer-investor AMF Fastigheter plans to refurbish and expand the Gallerian shopping centre in the centre of Stockholm.
Swedish property developer-investor AMF Fastigheter plans to refurbish and expand the Gallerian shopping centre in the centre of Stockholm.
The revamp will increase the mall’s GLA by 6,000 m2 to 37,000 m2, boosting its position as central Stockholm’s leading shopping centre.
The extension will integrate Gallerian with AMF Fastigheter’s upcoming Urban Escape development as well as the wider neighbourhood, linking it to AMF Fastigheter’s MOOD District retail quarter. Urban Escape Stockholm comprises 130,000 m2 of mixed-use space across the city block which also houses Gallerian.
Work on the extension will begin in early 2015 and involve the creation of up to 10 new shop units as well as additional restaurant space.
Tobias Edberg, centre manager at Gallerian, said the increased demand from international names looking to expand in Sweden cannot currently be met in the city centre. ‘As Gallerian is the most dominant asset in our retail portfolio, with its internationally renowned reputation and an unrivalled city centre location, we recognised solid potential for meeting this here.
‘As we bring forward Urban Escape Stockholm, now is the time for this development. An enhanced Gallerian will give Urban Escape Stockholm an established retail anchor, which both complements the wider elements and is integrated with other developments in the city centre.’
AMF Fastigheter - part of pension fund AMF - is Sweden’s second-largest property developer and investor with a portfolio of five city centre retail hubs, with a combined annual footfall of 45 million.
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