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Europeum open for business

The investor of the Europeum, newly opened, is interested in refurbishing its rundown but busy location, Blaha Lujza tér, Budapest.

Located at Blaha Lujza tér, one of the busiest locations in Budapest, the Europeum was opened to shoppers and spectators with a celebration and a series of shows and events. The facility is almost completely let, said the building’s manager Anna Vincze. To date, 12 tenants have signed for 90% of the available 5,300 square meters, including companies like Deichmann, Müller, Yves Rocher, Samsonite and H&M. The mall also features leisure functions with an Illy café and a Central Casino.

Europeum was developed by the ABLON Group, which invested HUF 9 billion into the project that spans a total of 31,000 square meters. According to ABLON’S managing director for Hungary, Adrienn Lovro, rents in the retail section range from €20 to €100 per square meter.

Europeum also accommodates the Courtyard by Marriott hotel which was officially opened in the spring of 2010.

ABLON also expressed interest in investing in the upgrade of Blaha Lujza tér, since although it is in a good location, the condition of the public areas there are known to be rather poor. According to plans, the overhaul would include new pavements, planting trees and installing an interactive fountain. Vincze said negotiations on the matter sare still under way with the Budapest municipality.

Europeum is one of three new retail facilities that are scheduled to open in Budapest in 2011 along with ORCO’s Váci1 and R-CO Ingatlanforgalmazó’s KÖKI Terminál.