Valad to redevelop Warsaw mall

Valad Europe is to redevelop and extend Centrum Janki shopping centre in southern Warsaw.

The €60 mln redevelopment is expected to begin in the second quarter of 2014 with a target completion date in the fourth quarter of 2015.

The work will include a 20,000 m2 extension with space for an additional 83 retail units. New tenants will occupy space alongside H&M, Go Sport and C&A at the 67,000 m2 shopping centre.

Centrum Janki was built in 1999 and was one of Poland’s first modern shopping centres. It has since undergone two extensions. Centrum Janki is part of Valad’s Polish Retail Fund, a closed end fund comprising six shopping centres and three hypermarkets, totalling 300,000 m2 and located in seven of Poland’s key cities including Warsaw, Kraków and Wroclaw.

Valad Europe manages €4.3 bn of assets in Europe across 16 funds and mandates, comprising more than 600 assets and 5,500 tenants. Valad has a team of more than 20 working out of its Polish office in Warsaw.

See CityLeaders for more on the Warsaw real estate market.