Ahold subsidiary sells shopping centre

Ahold Real Estate Europe has sold two Olympia shopping centres in the Czech Republic. It concerns a shopping centre in Replice (26.300 m²) and in Mladá Boleshav (21.500 m²) which have been developed by Ahold Real Estate AREE). The management of the shopping centres is done by SMC, a joint venture of AREE. The turn over is € 56.5 mln. The shopping centres have an occupation of 98%. Both shopping centres have amongst others a chain store of Hypernova, a hypermarket run by Ahold Czech Republic.

The buyer is the Austrian Europolis Invest. AREE sells shopping centres as soon as they are operational. The Real Estate Company has more shopping centres in the Czech Republic (one, in Karviná; which opens in November) and two in Poland (Bielsko Biala en Elblag). AREE also has a joint venture with developer AM in the Czech Republic, which opens two shopping centres next year in Plzen en Olomouc. Other that that AREE is also partly owner of a shopping centre in Bydgoszcz (Poland), in Kosice (Slovakia) and in Prague (Butovice).

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