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CPI Property Group announces Campona refurbishment

Luxembourg-based, Czech-owned real estate developer CPI Property Group today unveiled its new plans and projects at the international retail property trade show MAPIC in Cannes, France, including refurbishment of the Campona shopping center in Budapest.

CPIʼs visualization of the New Campona mall

CPI Property Group marked the start of the 24th MAPIC in Cannes with a presentation of its plans for refurbishment of the Campona mall in Budapest, according to a press release sent to the Budapest Business Journal. After the implementation of the plans will see the center’s gross leasable area grow by almost 60%, from 41,000 sqm to approximately 70,000 sqm.

"We have invested considerable efforts into getting to understand the changing needs and desires of consumers and shopping center visitors," said Renáta Kodadová, head of retail asset management in Hungary. "We envisage the New Campona as a shopping mall of the future, the first lifestyle center that will be both inspirational and offering ideal conditions for family outings with shopping and leisure-time activities."

Almost 30% of the new area will cater for leisure-time activities, with up to 15% occupied by restaurants and eateries. The remaining 55% will be used for retail purposes. The refurbishment plans also include, among other things, a panoramic roof over the shopping center’s food court and a new 30,000 sqm public park.