ECE Projektmanagement has completed the main structure of its €80m Arkad Ors vezer tere 2 shopping mall in Budapest, Hungary.
Due to open in March 2013, the mall will provide 20,000m² of rental space on three floors.
Investors of Arkad 2 mall include ECE / the Otto family and a DWS closed real estate fund.
Tenants include Van Graaf, Kolyokpark (indoor playground), iStyle, Interspar, Hervis, Libri, Marionnaud, Vodafone and shoe store Deichmann, which is doubling its retail space.
Construction works for the shopping centre started in October 2011.
ECE will also begin modernisation work on the ten-year-old Arkad 1 mall after opening Arkad 2.
In addition, ECE is responsible for long-term management and leasing at both the Arkad 1 and Arkad 2 malls.
Modernisation work at the Arkad 1 mall will feature an expansion and refit of the food court, while shopping areas will be redesigned by tenants themselves.
ECE has already modernised some 70 stores and will upgrade the other stores over the coming months.
The Tally Weijl, Terranova and H&M stores have all been completed, with the latter while doubling its retail space.
Hungary’s Lego monobrand shop is scheduled to open in the middle of this month.
Modernisation of the Arkad 1 mall is scheduled to finish by September 2013.
Upon completion, both the buildings will offer a combined retail area of 68,000m² with space for about 200 stores, cafes, restaurants, and other service points, as well as more than 1,600 parking spaces.
ECE is already operating five shopping centres in Hungarian cities of Budapest, Pecs, Gyor, Debrecen and Szeged.