First international-style shopping mall in Albania, City Park, begins leasing (AL)

The first international-style shopping mall in Albania, City Park, has commenced leasing. Colliers International Albania is the exclusive leasing agent for AM's City Park. The project will include a shopping center of 39,000 m², a food court, an electronics superstore and an international hypermarket. It is scheduled to open in the second half of 2009. City Park is part of a large retail park project that will additionally feature an internationally designed children's amusement park and an auto showroom marketing twelve auto brands.

City Park is located on the Tirana-Durres National Road, 12 km from Tirana, 25 km from Durres and 5 km from Tirana National Airport. It covers a catchment area of 1,350,000 consumers in a 25-km radius.

Stela Dhami, General Manager of Colliers International Albania and responsible for the leasing process of City Park, said, "City Park provides a superb opportunity for international retailers looking to make their entrance into the Albanian market and for local retailers looking forward to growing their existing retail business. We are already seeing deep interest from new market entrants primarily from Greece, Italy and the rest of the region. There is massive unmet demand here and we are confident that the Albanian retail sector will flourish even more in the years to come."

Robert Antista, Managing Director of Colliers International Albania, added, "We are delighted to be working with market leaders such as AM Group on this landmark project which will set new standards for excellence in retail in Albania."

AM Group was founded by President Artan Mene in 1991 and its brands Deka and Olim are market leaders.

Source: Colliers

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