International shopping centre specialist Sonae Sierra and Paris-listed Fonciere Euris have announced that 90% of the 56,500 m[sup]2[/sup] of gross lettable area of their Loop5 development in the southern German town of Weiterstadt is committed. The shopping and leisure project involves an investment of EUR 265 mln and is expected to open in the autumn of 2009.
International shopping centre specialist Sonae Sierra and Paris-listed Fonciere Euris have announced that 90% of the 56,500 m2 of gross lettable area of their Loop5 development in the southern German town of Weiterstadt is committed. The shopping and leisure project involves an investment of EUR 265 mln and is expected to open in the autumn of 2009.
Loop5 is being constructed in line with the Environmental Management System guidelines and will be certified in accordance with the ISO 14001 environmental standard during the construction phase.
Sonae Sierra has also announced that it has taken over management of Los Conquistadores shopping centre in Badajoz, Spain, and Post Galerie in Karlsruhe, Germany.
Located in the centre of the German city of Karlsruhe the Post Galerie has a GLA of 26,000 m2, 58 shops, and covers a market of 1.3 million potential consumers. In Germany, Sonae Sierra already owns and manages the Alexa in Berlin, and the Münster Arkaden in Münster, as well as Loop5.
Los Conquistadores in Badajoz has a GLA of 9,700 m2 and 24 shops, besides a children's play park, five restaurants, eight cinemas and one supermarket. This centre is now the fourth managed for different owners by Sonae Sierra in Spain.
