ECE is heading for success in Russia: the company is taking over the initial leasing and the center management of the AURA shopping center, which will soon celebrate its start of construction in Yaroslavl. At the same time, the management contract for the GoodZone center in Moscow was won. Also the current management of the Vremena Goda Gallery in Moscow shows a great success; the net operating income was increased by 28% under ECE's management.
AURA is due to open in autumn 2013.
The AURA mall in Yaroslavl is the former ECE project Golden Ring Gallery, which is now being realized with the new partner Renaissance Development. ECE is taking over the leasing out and management, Renaissance Development will be responsible for planning and construction.
"We are very glad having found such a strong and professional Investor and partner for this extraordinary development in Russia," stated Stefan Zeiselmaier, Managing Director of ECE´s activities in Russia.
Yaroslavl has around 600,000 inhabitants and is located approx. 280 km northeast of Moscow. AURA mall will correspond to Western European standards and will be a model for further developments in the Russian regions.
AURA will contain a leasable area of more than 60,000 m² and house 220 shops on four sales levels. A total of approx. 850 parking spaces are to be provided to the customers. Opening is scheduled for autumn 2013. The project is intended to be characterized by strong anchor tenants, a distinct entertainment component as well as many retail concepts that are new in Yaroslavl.
The currently constructed GOODZONE shopping center in Moscow is located at Kashirskoe Shosse in Moscow's southern administrative district Nagatino-Sadovniki, a densely populated borough. It has a leasable area of 56,000 m² on which around 200 shops are presented on four sales levels. Additionally, there is an entertainment area with cinema.
GOODZONE is scheduled to opening at the end of 2012, owner is the Austrian real estate investor and developer IMMOFINANZ Group. Anchor tenants will be, among others, an O'Key hypermarket, a consumer electronics market as well as international fashion labels. ECE is advising the investor during the construction phase and will take over the center management.
The Premium Shopping Center Vremena Goda located in Moscow opened at the end of 2007 and has been under management by ECE Russia since April 2009. It houses over 160 shops and services, located over six floors with a sales 30,000 m². A 600-car parking garage is available for the customers. The premium and high-end tenants include brands such as Chanel, Cartier, DKNY, Valentino, Burberry, Escada and Pal Zileri.
Top design home décor, trendy and exclusive restaurants with outstanding summer terraces, a luxury cinema and a 3,500 m² high-end grocery add to the fashion offer of this architecturally pleasing shopping center. Currently, approx. 30% of the leasable area is released in order to further upgrade the location.
"The increase of the net operating income by nearly 30% and an occupancy rate of 100% reflects the successful revitalization and proves the attractiveness of this investm