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Polish bank to finance Hungarian-Irish shopping mall

Hungary's Futureal and Ireland's Caelum Development have secured a €50 million loan from Polish lender BZ WBK Bank for a major shopping and entertainment property development in Gorzów Wielkopolski, Poland, Napi Gazdaság reports.

The Nova Park project is the first step in Futureal’s new strategy, which aims to support regional development partners with capital and professional knowledge. Around ten months prior to the opening, 70% of the shopping and entertainment complex's retail area has already been rented out.

Costing at about €120 million, Nova Park will have 140 shops on 80,000 sqm.