German shopping centre specialist Mfi has received the green light from the planning and building committee of Mönchengladbach to develop a new 23,000 m[sup]2[/sup] shopping centre in the Germany city. The committee has recommended the sale of the 2.6-hectare development site to Mfi for the construction of its Mönchengladbach Arcades project.
German shopping centre specialist Mfi has received the green light from the planning and building committee of Mönchengladbach to develop a new 23,000 m2 shopping centre in the Germany city. The committee has recommended the sale of the 2.6-hectare development site to Mfi for the construction of its Mönchengladbach Arcades project.
A final decision by the municipality is expected for December 22, 2010. If approved, Mfi plans to start demolition work on the site in January 2012, with the laying of the first stone expected in the late summer of 2012 and the opening planned for the spring of 2014.
Mfi was chosen over ECE by the city in May this year following the launch of a competitive bid for the project.
Separately, Mfi said that it has started construction of its Höfe am Brühl development project in Leipzig. The scheme, representing an investment of EUR 200 mln, is already 70%-prelet and will offer 27,500 m2 of retail space on opening in the autumn of 2012.
