Aréna Plaza, Budapest’s and Hungary’s largest shopping mall, managed and exclusively let by C&W and owned by a fund advised by Lanebridge Investment Management Limited, is currently undergoing a significant, strategic transformation.
The 65,000 sq m Aréna Plaza, the country’s most recognised shopping centre with its outstanding tenant mix, accommodating more than 200 brands, is leading the way in enhancing the shopping experience by strengthening the presence of large international fashion brands while keeping the variety of successful local, national retailers which were part of the concept established at its opening in 2007, ensuring a vast array of choice for consumers.
Key deals forming part of this transformation, which is affecting about 30 stores, include, the Spanish Inditex Group choosing Aréna Plaza for its new Massimo Dutti (600 sq m) unit, and the landlord enabling Zara to enlarge its existing store to 2,500 sqm and to relocate its Oysho (250 sq m) store to the ground floor of the building. H&M the Sweedish fashion giant is also currently being expanded to 2,500 sq m and will offer an even wider range of products to its customers with a revived concept on two floors from September.
Cushman & Wakefield’s Project Management department is responsible for the complete fit-out of the new Zara unit.
Erna Balla Centre Manager at Aréna Plaza said: “We are extremely happy to have closed this brace of deals at Aréna Plaza and to be the among the first shopping centres to welcome Massimo Dutti. These significant transactions and transformations show the enduring success of the scheme and the continued interest for premium shopping centre space from large international brands. We are confident that the new brand mix and reconfiguration will further increase the reputation of Aréna Plaza and enhance the shopping experience for our customers.”
Viktória Szabó Partner, Head of Retail at Cushman & Wakefield Budapest said: “The brands of the Spanish Inditex Group and H&M belong to the most well known fashion brands in Hungary. The fact that they are increasing their presence in several of the best performing shopping centres and high streets shows their success and their confidence in the Hungarian market. We are happy to have worked with them at Arena Plaza and hope to help them expand their Hungarian business even further.”