Multi unveils EUR 17 mln refurbishment for Allee


Asset and property management company Multi Hungary announced extensive refurbishment plans of Buda始s Allee shopping center, with most of the work expected to be completed in 2020.

The interior of Alle.

Multi says that it will upgrade and聽renovate the 46,700 sqm shopping mall while enhancing the tenant mix, interior and exterior聽design and customer services. The execution phase will commence in Q2 2020.

Allee offers more than 140 shops, a 13-screen multiplex cinema, restaurants, offices, a聽fitness club and parking for 1,200 cars. The complex attracts more than 18 million visitors聽each year. Multi says that the goal of the refurbishment is to secure聽Allee鈥檚 leading position in the increasingly competitive Budapest market.

The refurbishment plan is part of Multi始s business strategy of repositioning the center. Over the course of last year, the company brought聽a variety of new brands to Allee,聽such as Reserved, Lindt, CK Jeans, Sloggi, Inglot, and Tissot.

The refurbishment concept was designed by Multi鈥檚 in-house architect聽group TT Design, while the construction plans will be prepared by local designer company Finta聽Studio. The new design will aim at modernizing Allee, as well as create a relaxing, feel-good space for its聽visitors. The project will cost approximately EUR 17 million, the press release says.

One of the key elements of the project is the renovation of the food court, bringing about a new look聽and offering a modern environment for its customers, Multi says. High-quality seating areas and additional services are also planned to support activities at the center, according to the plans.

The exterior of Allee, which opened approximately 10 years ago, will also be upgraded. Other parts of theproject include the creation of space for caf茅s, restaurants, terraces, and kiosks. The playground, which serves聽as a community resource, will also be renewed.聽

Multi took over the asset and property management of Allee in January 2018 after winning an international聽tender.

"The renovation plans reflect聽Multi始s multidisciplinary project approach," R眉diger Dany, chief operations officer of Multi Corporation, says. "By offering a complete package of services, including architectural聽design, redevelopment, leasing and center management, Multi demonstrates that it is one of the most聽complete full-service retail asset managers in Europe.

"Continued critical analysis, reinterpretation and聽renewal of the retail assets guarantee value creation for the future. This way, we ensure that Allee remains a聽shopping center where retailers can thrive and visitors want to come back to," he adds.


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