Last week a unique record has been set that confirms the extraordinary scale and growth of Multi Development's pan-European operations. Spread over three regions of Europe, three new Multi projects opened, representing 110.000 m² of retail floor space. In the last week of October Stadsfeestzaal in Antwerp, Belgium, Forum Mersin in Turkey and Forum Castelo Branco in Portugal opened their doors offering the shopping public three centers that were all fully let to top quality retailers prior to their openings.
Hans van Veggel, Chairman of Multi Corporation, says: "Multi has always been considered a trailblazer. Innovative, design driven, focused on the development of cutting-edge retail schemes and mixed-use projects, specialized in the sustainable regeneration of Europe's city centers. With all our projects we seek to create a public space with a difference that captures something of the local magic. In Antwerp, Mersin and Castelo Branco this has been achieved with particular success. The restored historic Stadsfeestzaal is unique and unprecedented in grandeur and quality. In Mersin the extraordinary retail space creates a new format of both open air and enclosed shopping in the center of the city. In Castelo Branco a location has been transformed into a destination creating a synergy between retail and leisure and the economic development of the area. I compliment each of the local teams and all those involved with what has been achieved in this amazing week."
Multi Investment B.V. and Bank of Ireland Private Banking are the owners of Stadsfeestzaal, Forum Castelo Branco is a joint investment of a fund managed by Rockspring PIM Ltd. and the Jerónimo Martins Group through its Feira Nova supermarket brand, and Hamburg based Union Investment Real Estate AG through its open-ended real estate fund Uni lmmo Global and Multi Investment B.V. will own Forum Mersin.
Multi Development currently has 35 projects under construction in 20 countries and an additional 61 secured projects in various stages of planning with a total secured pipeline completion value of €11 billion. In 2008, another 27 schemes are forecast to begin construction on site. Amongst these projects under construction and in planning are major inner-city regeneration projects such as Victoria Square in Belfast, Northern Ireland (75,000 m²), Boulevard Berlin in Germany (86,000 m²), New Karolina, Ostrava (240,000 m² including mixed-use components) in the Czech Republic and Forum Palermo in Italy (58,000 m²). While Europe and New Europe have historically been the focus of Multi Corporation, it is Turkey where Multi Development's growth has been most remarkable with a secured pipeline of thirteen shopping center schemes totaling a million square meters and another dozen projects in negotiations.