MAB Development and Generali Real Estate Investments have signed a sales agreement for the Raaks project in the center of Haarlem. The agreement involves approximately 12,500 m² of shops, bars and restaurants and a Pathé cinema complex with six underground movie theaters. The shops will be opened to the public in mid April.
"Haarlem Raaks is a unique expansion of the Haarlem city center," comments Cees van Boven, Director of MAB Development Nederland BV. "Its combination of functions and appropriate architecture ensures that the new Raaks area is in harmony with the existing Haarlem structure."
The majority of the shopping area acquired by Generali as part of the Raaks project has already been leased. In addition to Pathé, other tenants include an Albert Heijn supermarket, Block Electrostore, Bruna, a Dirx drugstore and Duo Sport. Various cafés and restaurants will be opening around the Hortusplein, the central square of the Raaks area. As a result, the Raaks neighborhood will be a prime new destination for living, working, shopping and leisure activities in the center of Haarlem. The shopping area will be officially opened by alderman Cassee and Cees van Boven, Director of MAB Development, on May 25.
The purchase of Raaks is part of Generali's strategy of selective expansion and rejuvenation of the commercial portfolio through the acquisition of high-quality investments with a stable cash flow. Prime Pitch Asset Management and DLA Piper acted as Generali's consultant and legal advisor during the transaction. MAB Development has been advised by RechtStaete.
Source: MAB Development