Rodamco Europe opens shops in Stadshart Almere (NL)

Rodamco Europe N.V. opens the shops in the new shopping center 'Stadshart Almere' in Almere. Almere the fastest growing city in the Netherlands with approximately 180,000 inhabitants. 'Stadshart Almere' is one of Rodamco Europe's largest investments in the Netherlands. It adds 65,000 m² retail space, 4,000 m² leisure, 8,000 m² cinema and 2,000 m² office space to the city center of Almere and is expected to attract 12 million visitors each year.

Rodamco Europe has acquired 'Stadshart Almere' for approximately €240 million, generating a net initial yield on investment of around 7%. 'Stadshart Almere' was acquired in 2002 from Almere Hart C.V. Rodamco Europe's property portfolio in the Netherlands is now valued around €3.3 billion, of which 88% is in the retail sector.

The GLA of 'Stadshart Almere' is around 65,000 m² retail space, spread over various buildings and small and large scale units (120 units in total). The shopping center has a strong tenant mix with tenants like H&M, Zara, V&D, Esprit, Oil & Vinegar, and Media Markt. In addition to the retail space, Rodamco Europe invests in 4,000 m² leisure space, a cinema of 8,000 m² and 2,000 m² office space. 'Stadshart Almere' also comprises 800 apartments, a hotel, a cinema, a music hall, a library and 2,500 parking spaces.

CEO Maarten Hulshoff: "'Stadshart Almere' strengthens Rodamco Europe's position in the Netherlands and specifically in the greater Amsterdam area. 'Stadshart Almere' emphasizes Rodamco Europe's focus on top quality retail in dominant urban locations and with this investment we have been able to extend our Dutch portfolio with a whole new city center. Through this new shopping center, Almere's shopping offer has been upgraded in one go to a level appropriate for a city which has grown strongly and continues growing. By using high-profile and contemporary architecture as well as a large diversity and high quality of shops, an unprecedented shopping experience has been created."

'Stadshart Almere' will be officially opened on April 22 at 1pm (CET), on the Forumplein by Mr. H.J.A.M. Smeeman, alderman in Almere, Mr. J. Melchers, director of Almere Hart C.V. and Mrs. K. Laglas, managing director of Rodamco Europe in the Netherlands.

Source: Rodamco Europe

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