IMMOFINANZ Group boosts Silesia City Center's market position with opening of new extension (PL)

On October 12, 2011, IMMOFINANZ Group opened the extension to its Silesia City Center – the most important shopping center in Silesia and one of the largest shopping centers in Poland.

From September 2010 to October 2011, 20,000 m² of new rental space was created and additional parking spaces were added in the underground garages and on the roof. The value of the investments amounts to approximately €50 million.

"Strong and continuous interest from national and international retailers in additional space, impressive visitor statistics combined with the potential of a dynamically growing economy and the high purchasing power of Silesia were the decisive factors for our decision to extend the Silesia City Center," commented Eduard Zehetner, CEO of Immofinanz Group, on this strategic step.

"We are very pleased that our investment has created a win-win situation for our company and the local community. For the local community, the extension will create nearly 500 new jobs and attractive entertainment facilities. For Immofinanz Group, it will boost the market position of our flagship shopping center in Poland."

A true success story
The Silesia City Center in Katowice, the capital city of the voivodship Silesia (Southern Poland), is the most important shopping center in the entire region. It was completed in November 2005. Since that time, the Silesia City Center with roughly 250 shops on 66,000 sqm has registered impressive performance. It is not only a regional landmark – it has become one of the best known shopping centers in Poland.

Nearly 14 million visitors per year, and the trend is rising
Since the opening more than five years ago, the available space has been fully rented. Silesia City Center serves a catchment area (based on travelling time of 60 minutes) of more than 3.7 million residents with a wide range of shopping and entertainment alternatives. Popular international retailers like Tesco, Saturn, C&A, Zara and Royal Collection have enjoyed a steady increase in visitors. In 2010 an electronic frequency measurement registered nearly 14 million customers, i.e. more than 38,000 shoppers per day on approximately 66,000 m².

Extension as the logical consequence
Strong and continuous interest from national and international retailers in additional space and impressive visitor statistics were the crucial factors for the decision to extend the Silesia City Center. From September 2010 to October 2011 a total of 20,000 m²of new rental space was created and more than 500 parking spaces were added in the underground garages and on the roof. The increase in parking to approximately 3,500 spaces, combined with optimal connections to the public transportation network, also enhances the attractiveness of the Silesia City Center.

The strategic benefits of the extension can be seen from two angles: On the one hand, the growing demand of first-rate tenants for prime retail space can now be met and, on the other hand, the future of this well-established location is protected by strengthening the leading market position of Silesia City Center with an increased offering of retail space and a larger variety of goods and services.

Silesia City Center today
Over 800 people worked on the expansion of Silesia City Center, a project that was headed by the Immofinanz commercial development team. Prior to its opening the Silesia City Center extension was fully let to top national and international retailers like Van Graaf, H&M, Smyk Megastore, Cubus and KappAhl. Unique brands that are new to the Silesian market, such as Guess Denim, Tommy Hilfiger and La Mania, are also opening stores in the extension. In addition to clothing chains, the new section of Silesia City Center accommodates luxury brands like Calvin Klein Jeans, Pinko, Guess Denim, Furla and Rolex, as well as restaurants and health & beauty services.

Today Silesia City Center ranks among the top five shopping centers in Poland and holds the leading position in Silesia and in Zaglæbie with a selling area of 86,00

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