McArthurGlen to add 126,000 m[sup]2[/sup] by end 2010

McArthurGlen Group plans to open a further five new schemes in Europe over the next two years, adding 126,000 m² of gross leasable area (GLA) to its existing portfolio of 17 outlets covering more than 400,000 m². The new schemes are planned for Venice, Berlin, Salzburg, Naples and Athens.

McArthurGlen Group claims to be Europe's leading developer, owner and manager of designer outlet villages after introducing the concept of designer outlet retailing to Europe in 1995 with the opening of its Cheshire Oaks Designer Outlet in the UK and Troyes Designer Outlet in France. It now plans to ramp up its expansion even further and is looking for new opportunities across Europe, both for McArthurGlen Designer Outlets, which offers shoppers discounts of 30-70% on last season's collections of well-known brands in a quality environment, as well as for full-price luxury and designer retail opportunities.

'McArthurGlen is actively seeking opportunities across Europe, both in Western Europe, in particular France, Spain and Germany, where the designer outlet market still shows potential, and also in the richer emerging markets on the eastern fringes of Europe, namely Russia and Turkey,' noted McArthurGlen Group chairman JW (Joe) Kaempfer.

The 11,000 m² first phase of McArthurGlen's Veneto Designer Outlet village opened in September 2008. This will be followed by the opening next year of the first phases of new designer outlet villages for Berlin (total GLA: 19,000 m2) and Naples (26,000 m2), as well as a 28,000 m² designer outlet village adjacent to Salzburg’s international airport and the second phase of Veneto Designer Outlet (21,000 m2). In Athens, a 21,200 m² McArthurGlen Designer Outlet village will open in 2010.