Deutsche Euroshop Newsroom

Ad hoc Disclosure

02.08.2004

Deutsche EuroShop AG Takes an Interest in a Shopping Center in Austria

Deutsche EuroShop AG takes an interest of 50 % in the City Arkaden in Klagenfurt/Austria, which is to be opened in spring 2006. The proportionate investment volume amounts to Euro 75 million, of which Euro 30 million should be equity financed. The portfolio of Deutsche EuroShop AG consists now of 14 shopping centers with a proportionate investment volume of Euro 1.2 billion.

The shopping center will house approximately 120 shops on three levels with a total sales area of approx. 27,000 sqm. Additional 3,000 sqm will be available for gastronomy and retail related services. The start of construction is planned for the middle of August 2004. Over 45 % of the store spaces are already let long term to renowned retailers. Furthermore there are contracts near conclusion for additional 20 % of the store spaces.

The City Arkaden shopping center is located in the city center of Klagenfurt and has a direct connection to the pedestrian precinct. The catchment area of the center has approximately 420,000 inhabitants. There will be approx. 850 parking spaces available for customers.

 

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