Neinver has partnered with The Prague Outlet to create a joint venture launching Prague The Style Outlets. The outlet centre is being billed as the first premium outlet vilage in the Czech Republic.
Under the agreement, Neinver will be in charge of leasing, retail and property management, and brand the development with its 'The Style Outlets' trademark.
'Our partnership with The Prague Outlet means an outstanding opportunity to combine its unique local market knowledge with our expertise in the outlet sector,' said Carlos González, managing director at Neinver. 'These elements, together with the excellent, central location in a dynamic, growing and affluent city with a well-established tourist economy, makes it an excellent opportunity to expand our business into the Czech market.'
Neinver's 'The Style Outlets' portfolio currently includes assets in Germany, Italy, Portugal, France and Spain.
'We are enormously excited about our upcoming joint venture with Neinver and what this means for our centre. We have made significant improvements to the development already and we look forward to seeing the final transformation into The Style Outlets,' commented Martin Kubista, head of The Prague Outlet.
The joint venture is financed by PPF Bank.
