Unibail-Rodamco and Valad Europe, announce that they have agreed the redevelopment and extension of Krokus Shopping Centre in Kraków, Poland.
Located in the north eastern part of Kraków, the Centre currently has a total gross leasable area of 30,000 m² and is conveniently located nearby the Multikino cinema complex and Park Wodny waterpark.
The redevelopment plans will add a further 50,000 m² of GLA, transforming the asset into a state-of-the-art jumbo shopping center, reflecting the needs of the local residents and workforce, together with the requirements of increasingly sophisticated retailers seeking prime retail space in Kraków.
Arnaud Burlin, Unibail-Rodamco’s Managing Director for Central Europe, commented: “We are preparing a state-of-the-art, large regional shopping mall in co-operation with our partners, in order to achieve an unprecedented level of customer experience in the City of Kraków.”
Karol Pilniewicz, Valad Europe’s Head of CEE, added: “We are delighted to have agreed with Unibail on the Krokus redevelopment. This development will significantly enhance the return for our investors and provide Unibail the opportunity to eventually own and operate a jumbo shopping center in Krakow.”
Krokus Shopping Centre is part of Valad Europe’s Polish Retail Fund.