ING Real Estate (Development Holding Belgium NV) and REDEVCO Belgium have announced that they have agreed on the sale transaction of the retail part of the project Genk Stadsplein/Sint Martinusplein.
ING Real Estate started the project in 2002 as main part of a public private partnership with the City of Genk. The total program consists in the realization of a mixed-use project with 752 parking places, sold to Q-park, ca. 16.000 m² of retail space, 99 apartments and a 4-star design hotel, part of the Different Hotel group. The City of Genk on her part is taking care of the construction of a new Public library and the squares: Stadsplein, Sint-Martinusplein and the Big Square.
REDEVCO becomes the owner of 30 retail units with a total surface of 16.000 m². The retail project is nearly fully let (99%). The shops are let to well-known national and international retailers such as H&M, JBC, GB (Carrefour), ZARA, C&A, ICI Paris XL, River Woods, Cortefiel, Mexx, HEMA. Local retailers like Brasserie Stadsplein, L'unique, Strada, Carbon Café, Tropical reisbureau found their place in the project. The opening will be realized in two steps, to start with Stadsplein + the underground parking on 25 October 2007 and Sint- Martinusplein will open in April 2008.
REDEVCO and ING Real Estate also previously announced their partnership in the redevelopment of SHOPPING 1 in Genk, one of the oldest shopping centers in Belgium.
Source: REDEVCO
