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| Hungary's largest shopping location opened in Budapest Árkád 2 in Budapest has opened after a construction time of 18 months. The new shopping center supplements on three floors the already existing Árkád 1 by around 20,000 m˛ leasable area and numerous new shops – among them Interspar, Van Graaf, New Yorker, Hervis, Deichmann, and the Apple Premium Reseller "iStyle". With an overall leasable area of 68,000 m˛, both centers together form the largest shopping location in Hungary. Together they will provide space for around 200 specialist stores, cafés, gastronomy and service outlets. "In 2002, we decided chose the Árkád shopping center in Budapest for the first edition of our Fund, which invested in Eastern Europe. We are still convinced that investments in shopping centers in very good locations and with a professional center management are two very reasonable and profitable for German investors, " explained Hermann Wüstefeld, Head of Closed-End Fund Production & Management, Deutsche Asset & Wealth Management. The investors of Árkád 2 are ECE / the Otto family and a DWS closed-end real estate fund. The investment volume for the shop-ping center amounts to a total of around 80 million euros. With the opening of Árkád 2, around 300 new jobs have been created. The long-term management and leasing of Árkád 1 and Árkád 2 remains in the hands of ECE. The company Épitö Zrt. had been commissioned as general contractor with the realization of the construction. Also Árkád 1, which was opened in 2002, is to shine in new splendor: by September of this year, the shopping center is being modernized and will win approx. 50 new attractive shops, e.g. Adidas, Nordsee, City Spar, and CCC Shoes. Also the food court is being expanded. Some shops have already opened in the last months, such as Stradivarius, Nike and the first Lego monobrand store in Hungary. Furthermore, several tenants – among them H&M and Camel Active – used the center restructuring for an enlargement of the shop space. The catchment area of Árkád 1 and Árkád 2 comprises more than 1.3 million people, who can easily reach the center by car or with public transportation. The centers are located in the Kőbánya dis-trict, borough X, in eastern Budapest at the busy junction Krepesi and Fehér út and have direct connection to a metro station. Furthermore, several bus stops, a streetcar station and a city train station are in direct vicinity of the centers. More than 1,600 parking spaces are available for the visitors. write your comments about the article :: © 2013 Construction News :: home page |