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Immofinanz announces start of €115m mall project in Lublin


2012-10-03



Immofinanz, the Austrian real estate developer, will later this month start construction work on a state-of-the-art shopping centre in central Lublin, close to the city’s historic castle. The value of the project is approximately €115m and it is expected to bring about 2,000 jobs. Immofinanz will also invest a further €12m in city development in Lublin.

The complex will combine shopping, entertainment, recreation and leisure functions and will have gross leasable area of 37,000 m2, offering space for about 150 shops. The opening is scheduled for autumn 2014.

In the words of Eduard Zehetner, CEO of Immofinanz Group, Lublin is a promising retail market with 350,000 residents and a total catchment area of 800,000, a strong economic potential and low retail density. The Austrian group plans to further intensify its activities in Poland, he added.



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