ECE to expand in Central Europe

Encouraged by the success of its first shopping center here, Hamburg, Germanyâ€"based ECE Projektmanagement has announced plans to build more malls in the Hungarian capital and across Central Europe.

Addressing attendees of the 28th annual ICSC European Conference at a special reception on Wednesday, ECE General Manager Helmut Koprian said sales at Arkad Ors Vezer Tere totaled €140 million ($150.7 million) for the 12 months ended March 2003, the first year of its operation. The180-store, southeast Budapest mall has had an average of 50,000 visitors per day.

ECE will open 10 other shopping centers in Central Europe over the next three years, Koprian said, including two more Budapest-area centers and one project each in the Hungarian cities of Pecs and Gyor.

ECE first ventured outside its home country in 2001, with the Galeria Dominikanska, Breslau, Poland. Current and future shopping center projects are located in Prague and Brno, the Czech Republic; and Lodz, Poland.

Rotterdam, the Netherlandsâ€"based Rodamco Europe, and Deutsche Bank are investment partners in Arkad Ors Vezer Tere.

Koprian spoke to conference attendees gathered in the Arkad Ors Vezer Tere atrium.

Source: ICSC

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