KRAKOW, Poland—Unibail-Rodamco and Valad Europe are working together to redevelop and expand Krokus Shopping Centre in Kraków.
Located in the north eastern part of Kraków, the Centre currently has a total gross leasable area of 30,000 sq m and is conveniently located nearby the Multikino cinema complex and Park Wodny waterpark.
“We are preparing a state-of-the-art, large regional shopping mall in co-operation with our partners, in order to achieve an unprecedented level of customer experience in the city of Kraków.” said Arnaud Burlin, Unibail-Rodamco’s managing director for central Europe.
The redevelopment plans will add a further 50,000 sq m of leasable area, transforming the asset into a state-of-the-art jumbo shopping center. That expansion is said to reflect the needs of the local consumers, and the increasing sophistication of retailers seeking prime retail space in Kraków.
“We are delighted to have agreed with Unibail on the Krokus redevelopment,” said Karol Pilniewicz, Valad Europe’s head of CEE, added. “This development will significantly enhance the return for our investors and provide Unibail the opportunity to eventually own and operate a jumbo shopping centre in Krakow.”
Krokus Shopping Centre is part of Valad Europe’s Polish Retail Fund.