In Sviblovo, the most densely populated district in Moscow, IMMOEAST AG has completed Europe's biggest shopping mall in partnership with the experienced project developer Patero. Golden Babylon Rostokino opened yesterday on a total of 170,000 m² lettable space; there are now 440 shops on two floors and an entertainment area for children and adults. Measured by lettable space, Rostokino is the biggest property IMMOEAST holds in its portfolio.
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Golden Babylon Rostokino opened yesterday on a total of 170,000 m² lettable space.
Dr. Eduard Zehetner, CEO of IMMOEAST AG, is extremely satisfied with the project: "The construction and opening of this extraordinary shopping mall is another significant success for IMMOEAST as an internationally successful player in the development and construction of real estate projects. With Rostokino we strengthen the IMMOFINANZ Group's outstanding real estate portfolio and the EUR 100 million in projected annual rental income will sustainably contribute to the optimisation of the company's cash flow."
In addition to the numerous shops, there are a cinema with 14 theatres as well as cafes and restaurants ensuring a shopping and entertainment. The mall can be easily reached by public transportation and by car; the parking area with 6,500 parking spaces provides added comfort for visitors. For 75% of the retail spaces there are leases signed with well-known Russian and international retailers; another 15% are in the final stage of negotiation. Nearly all tenants have already set up their shops and open today. Anchor tenants include leading retail chains such as Media Markt, H&M, Inditex (Zara, Zara Home), Maratex (ESPRIT, Orsay) JamilCo (GUESS, Chevignon, Naf Naf, Levi's) as well as Lacoste, Cacharel, New Yorker, the DIY chain Castorama, the Finnish department store chain Stockmann and the Russian food hypermarket O'key.
Source: ACCEDO
