ECE to build EUR 200 mln shopping mall in capital
German property developer ECE on Wednesday announced plans to build a EUR 200 million shopping center in the north of Budapest. The center is expected to open at the end of 2021, according to a report by state news agency MTI.
The center will have leasable area of 52,000 square meters and room for 170 businesses, Christoph Augustin, the head of ECEʼs local unit, told journalists in Budapest.
ECE said the mall will be built on the site of a former textile factory in District 3 of the capital, situated in a dense neighborhood next to the multi-lane thoroughfare Szentendrei út.
The catchment area for the project has more than 640,000 inhabitants within a 30-minute driving radius, the company added.
ECE and its partners have invested more than EUR 600 million in Hungary since 1996. The company currently operates five shopping malls with a combined leasable area of 210,000 sqm, one in Budapest and four in other big cities around the country.
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