In one amazing week Multi sets the pace in Europe by opening three large fully let shopping centres in Turkey, Portugal and Belgium
This week a unique record has been set that confirms the extraordinary scale and growth of Multi Development’s Pan-European operations.
Spread over three regions of Europe - three new Multi projects opened, representing 110.000 m2 of retail floor space, each one setting a new standard in shopping centre design and development. In the last week of October Stadsfeestzaal in Antwerp, Belgium, Forum Mersin in Turkey and Forum Castelo Branco in Portugal opened their doors offering the shopping public three centres that were all fully let to top quality retailers prior to their openings.
After 25 years of extraordinary growth and success, Dutch based Multi Corporation now is working on bringing its exciting shopping centres to more than 20 new countries through its combined development, asset management, investment and mall management disciplines.
New standards for shopping in both mature and emerging markets
Hans van Veggel, Chairman of Multi Corporation says: “Multi has always been considered a trailblazer. Innovative, design driven, focused on the development of cutting-edge retail schemes and mixed use projects, specialized in the sustainable regeneration of Europe’s city centres. With all our projects we seek to create a public space with a difference that captures something of the local magic. In Antwerp, Mersin and Castelo Branco this has been achieved with particular success. The restored historic Stadsfeestzaal is unique and unprecedented in grandeur and quality. In Mersin the extraordinary retail space creates a new format of both open air and enclosed shopping in the centre of the city. In Castelo Branco a location has been transformed into a destination creating a synergy between retail and leisure and the economic development of the area. I compliment each of the local teams and all those involved with what has been achieved in this amazing week.”
Multi Investment B.V. and Bank of Ireland Private Banking are the owners of Stadsfeestzaal , Forum Castelo Branco is a joint investment of a fund managed by Rockspring PIM Ltd. and the Jerónimo Martins Group through its Feira Nova supermarket brand, and Hamburg based Union Investment Real Estate AG through its open-ended real estate fund Uni lmmo Global and Multi Investment B.V. will own Forum Mersin.
A pipeline of 96 secured retail projects with 35 under construction
Multi Development currently has 35 projects under construction in 20 countries and an additional 61 secured projects in various stages of planning with a total secured pipeline completion value of 11 billion euros. In 2008, another 27 schemes are forecast to begin construction on site. Amongst these projects under construction and in planning are major inner-city regeneration projects such as Victoria Square in Belfast, Northern Ireland (75,000 m2), Boulevard Berlin in Germany (86,000 m2), New Karolina, Ostrava (240,000 m2 including mixed use components) in the Czech Republic and Forum Palermo
in Italy (58,000 m2). While Europe and New Europe have historically been the focus of Multi Corporation, it is Turkey where Multi Development’s growth has been most remarkable with a secured pipeline of thirteen shopping centre schemes totaling a million square meters and another dozen projects in negotiations.
Multi Corporation
Multi Corporation is a leading company in Europe in the field of developing, owning and operating quality shopping centres, offices and mixed-use projects through its subsidiaries Multi Development, Multi Investment, Multi Asset Management and Multi Mall Management. With the backing of a Morgan Stanley Real Estate Fund, Multi combines financial strength and investment capacity with its experience and proven track record as a developer of sustainable high quality projects. Multi is strongly committed to further growth and its strategy continues to be to carry out developments and investments in European countries where there is significant potential.
Multi is active in over 20 European countries. The company’s head office is in the Netherlands and it has offices in Belgium, Bulgaria, Czech Republic, France, Germany, Greece, Italy, Luxembourg, Poland, Portugal, Romania, Slovakia, Spain, Turkey, Ukraine and the United Kingdom.