Immofinanz Group boosts Silesia City Center‘s (SCC) market position with the opening of a new and fully let extension. The Austrian real estate company have invested EUR 50 million in the project and made it one of the top five shopping centers in Poland.
On 12th of October 2011 Immofinanz Group, the largest real estate investor and developer in Austria and one of the five leading listed real estate companies in Europe, opened the extension to its Silesia City Center – the most important shopping center in Silesia and one of the largest shopping centers in Poland. From September 2010 to October 2011 more than 20 000 sq. meters of new rental space (60 units) was created and additional parking spaces were added. The development project was successfully realized in time and budget. The total investment cost amounts to approximately EUR 50 million resulting in a fair value of the extension of more than EUR 100 million.
Since the opening more than five years ago, the available space has been fully rented. Silesia City Center serves a catchment area (based on traveling time of 60 minutes) of more than 3,7 million residents with a wide range of shopping and entertainment alternatives. Popular international retailers like Tesco, Saturn, C&A, Zara and Royal Collection have enjoyed a steady increase in visitors. In 2010 an electronic frequency measurement registered nearly 14 million customers, i.e. more than 38 000 shoppers per day on approximately 66 000 sq. meters.
“The strategic benefits of the extension can be seen from two angles: on the one hand, the growing demand of first-rate tenants for prime retail space can now be met and, on the other hand, the future of this well-established location is protected by strengthening the leading market position of Silesia City Center with an increased offering of retail space and a larger variety of goods and services” – commented Eduard Zehetner, CEO/CFO of Immofinanz Group.
In connection with the Silesia City Center extension opening, the Immofinanz team and the local Center’s management invited Paris Hilton as a special guest to Katowice. The official part of her visit started with a press conference on 12th of October 2011 together with Eduard Zehetner and the mayor of Katowice, Piotr Uszok (see photos). Also, a VIP event took place in the evening the same day. The official grand opening on 13th of October is on Paris Hilton’s agenda as well. The interest of national and international media, radio and TV stations has been enormous, so was the enthusiasm of her fans. “Today is the big day! I just had my press conference here in Poland to announce the opening of the Silesia City Center and it went extremely well! I always get a little bit nervous right before I go out into a huge room filled with tons of press and cameras […]. It also helps when they are welcoming and in this case they were!” – Paris Hilton wrote at her website.
Silesia City Center today
Prior to its opening the Silesia City Center extension was fully let to top national and international retailers like Van Graaf, H&M, Smyk Megastore, Cubus and KappAhl. Unique brands that are new to the Silesian market, such as Guess Denim, Tommy Hilfiger and La Mania, are also opening stores in the extension. In addition to clothing chains, the new section of Silesia City Center accommodates luxury brands like Calvin Klein Jeans, Pinko, Guess Denim, Furla and Rolex, as well as restaurants and health&beauty services.
Today Silesia City Center ranks among the top five shopping centers in Poland and holds the leading position in the region with a selling area of 86 000 sq. meters accommodating 310 shops. According to the developer, the wide variety of national and internationals labels, including popular chains and high-end brands, also makes Silesia City Center competitive with shopping centers in Kraków, Warsaw and Wrocław, where Silesians often do their shopping. The expanded mall will also be attractive for foreign customers. The growing interest of the Czechs, Russians, Germans and Slovaks, who are frequent shoppers in Silesia, will have a positive impact on Silesia City Center.
Warsaw’s Bose International Planning and Architecture Studio – which designed the first part of Silesia City Center – also developed the architectural concept for the extension. The aim was to realize a concept that breaks up the stereotypical image of shopping malls. The result is a 200 meter semi-circular facade with glass, ceramics and aluminum as decorative elements to achieve an outstanding, individual character.
“It is amazing to see the results of one year’s work today. I am well aware that this tremendous success was only possible due to the total commitment and professional approach of the many men and women involved, and I would like to express my appreciation for these efforts. To all our colleagues and project partners – thank you!” added Zehetner in conclusion.
About Immofinanz Group
Immofinanz Group is one of the five largest listed property companies in Europe and is included in the leading ATX index of the Vienna Stock Exchange. Since its founding in 1990, the company has compiled a high-quality property portfolio that now comprises more than 1 600 standing investments with a carrying amount of approx. EUR 8,4 billion. The core business of Immofinanz Group covers the acquisition and management of standing investments, the realization of development projects and the sale of properties. The business activities of Immofinanz Group are concentrated in the retail, office, logistics and residential segments of eight regional core markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Russia.
Text source: Immofinanz Group