Dutch-based ING Real Estate has appointed international property advisor Cushman & Wakefield to manage Zlote Tarasy, the 225,000 m[sup]2[/sup] shopping mall in Warsaw. After a string of delays, the mixed-use complex will open its doors on February 7.
Dutch-based ING Real Estate has appointed international property advisor Cushman & Wakefield to manage Zlote Tarasy, the 225,000 m2 shopping mall in Warsaw. After a string of delays, the mixed-use complex will open its doors on February 7.
One of Central Europe's highest-profile developments, Zlote Tarasy has been beset with problems since construction started in 2001 due to planning hiccups and opposition from environmental groups. While completion of the centre was initially planned for 2004, the centre's wholly-let retail space will now open its doors this week, with tenants including Marks & Spencer, Zara and H&M.
Dutch property company Rodamco Europe paid EUR 157 mln for a 50% stake in the EUR 400 mln project. The remaining 50% is held by ING Real Estate. The complex comprises 63,500 m2 of retail, an eight-screen cinema and 45,000 m2 of offices.
Cushman & Wakefield's Warsaw office has been responsible for the property management set-up of Zlote Tarasy over the last five years, as well as the leasing of the scheme and advising ING Real Estate on the development.
