IMMOCHAN starts construction of the new shopping centre Aqaurelle in Moscow

IMMOCHAN starts construction of the new shopping centre Aqaurelle in Moscow

 

Moscow, Russia, 2017-Jun-07 — /EPR Retail News/ — IMMOCHAN has launched the construction of the new shopping centre Aqaurelle in Moscow region, Pushkinsky disctrict. Esta Construction has been appointed as a general contractor responsible for construction and engineering maintenance of the project. The modern project with a GBA more than 120,000 sq m is scheduled to be opened on Yaroslavskoye highway in Q4 2018.

SEC Aquarelle will appear on the evening side of the Yaroslavskoye highway in Pushkino district – one of the most densely populated in Moscow region. It has tremendous dynamics of the new residential blocks and districts construction whilst there is high demand on contemporary shopping & entertainment centers and considerable low supply. The catchment area comprises such towns of Moscow region as Ivanteevka, Krasnoarmeysk, Korolev and administrative center of the district – Pushkino city.

The new shopping & entertainment shopping centre will comprise the shopping galleries with famous international & local brands in mid-price segment, multiplex cinema operated by MORI CINEMA as well as popular café & restaurant chains and fast food concepts. With 48,000 sq m of GLA there will be more than 100 shops anchored by Auchan (17,000 sqm hypermarket area) and stand-alone Baucenter DIY hypermarket (total area 19,000 sqm). For customers’ convenience the new scheme allocates a surface parking for 2,600 lots.

The key features of the project will become family leisure & entertainment center Festival House, multifunctional pedestrian and active lifestyle routes as well as free socially-important services: baby care rooms, Wi-Fi, comfortable sitting areas etc.

The new road infrastructure will be developed to guarantee the superb access to the new shopping centre by public and private transport from every direction – the system of reversal overpasses and parallel roads to Yaroslavskoye highway. Residents of Ivanteevka will be able to arrive to Aquarelle from direct access on Zelenaya roscha street.

Thierry Leconte, General Director Immochan Russia says: ‘For future development we have chosen Pushkino district due to its densely population (more than 1.4 million of people in the catchment area) and active residential development. It is also important that our future shopping & entertainment center is located on the largest federal route in Russia – Yaroslavskoye highway (part of the M8 highway) with a weekly flow of more than 400,000 vehicles. The mission of our company is to construct comfortable and eco-friendly modern shopping centres created for the harmonious life. To achieve best results we engaged international professional companies: architectural and interior design was developed by leading European specialists – Broadway Malyan and iD WAD, for construction and engineering we have chosen an experienced and reliable general contractor – ESTA Construction, a company that builds remarkable properties around the world. Considering all the above mentioned factors we are launching the construction of Aquarelle Pushkino SEC  with impressive results, showing that our concept is highly demanded by the retail community – more than 75% of retail spaces have already been leased. We are obliged to our tenants for the confidence and promise to fulfill our commitments in full and on time’.

Pavel Mori, General Dicrector MORI CINEMA Management LLC: ‘Taking into account the decrease in the volume of commissioning quality retail properties in Russia during the last years and considering the fast-changing requirements of the audience to comfort and quality of movie screenings, it is necessary to carefully approach to the new sites selection and, especially, partners. In the project such factors as location, competitive environment and commercial concept are equally important for us. Professional approach in preparation the opening of the cinema with the following qualified management of it, as well as the recognizable brand MORI CINEMA, will allow to achieve the ultimate synergy with the shopping & entertainment center to attract customers of different ages and level of welfare’.

Contact:
Philippe Roussel
International leasing director
proussel@immochan.com

Source: IMMOCHAN

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Immochan marks its 5th year in Romania

Immochan marks its 5th year in Romania

 

Croix Cedex, France, 2017-Feb-08 — /EPR Retail News/ — 5 years of activity in Romania represent for Immochan an accelerated growth, the company became the market leader based on the number of managed shopping centers – 23 currently.

Immochan has claimed the role of global urban player, attentive to the changing needs of communities in Coresi project initiated in 2013, in Brasov. Coresi Shopping Resort opened in March 2015 (45.000sqm GLA) was the first stage of the project. A second phase followed, Street Coresi, that complements the offer of the shopping center, with ​​14,000sqm GLA and an investment of 10 million euros.

Coresi Avantgarden, the residential complex, represents the third phase, with the stated ambition of creating 3,000 new apartments in Brasov. 570 apartments in 13 buildings are under construction with delivery in 2017 and the first quarter of 2018.

In 2017, Immochan will continue the transformation of 5 shopping centers representing 30,000sqm and a total investment of 10 M Euro.

Contact:
Philippe Roussel
International leasing director
Email: proussel@immochan.com

Source:  Immochan

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Auchan Retail France and Immochan create innovative multi-media advertising agency, IMEDIA CENTER

Croix Cedex, France,  2016-Jun-20 — /EPR Retail News/ — Building on the annual flow of 420 million physical clients and 170 million connected customers, Auchan Retail France and Immochan create IMEDIA CENTER: an innovative multi-media advertising agency that offers a new way of thinking and organizing advertising campaigns in the world of retail.

Officially presented on 9 June 2016, IMEDIA CENTER is in charge of marketing communication tools offered by all Auchan Retail outlets (Auchan hypermarkets, Auchan Drive and web portals) and Immochan (shopping malls). Benefiting from all the information throughout the customer journey, IMEDIA CENTER is the first and only media that offers retail environment that is both global (as it allows to reach shoppers all along their buying journey) and 100% integrated (sourcing / data, physical and virtual channels).

“Consumers today expect more from their shopping experience. They want to be treated and live a more expanded experience. The issue is to strengthen the dialogue between advertisers and consumers beyond simple advertising while optimizing their media investments. Our ambition with IMEDIA CENTER is to offer the most effective channel to brands, the most innovative and most consistent to enhance their relationship with consumers, in an ideal situation to buy or purchase preparation. We give them the ability to be strong and structuring elements of the consumer journey, but also levers that enable rapid sales and measured performance. “Sandrine CLION, Operational Director IMEDIA CENTER

Tested since June 2015 in the Roncq shopping centre and since October on Les Saisons de Meaux, the IMEDIA CENTER offers will be deployed in 2016 to 50 commercial sites and 72 drives to reach the 1st April 2018 radiation of 121 hypermarkets 67 galleries, 102 drives and 3 e-commerce portals

www.imediacenter.com

SOURCE: Immochan

Immochan presents its major projects worldwide at major events

Croix, Nord-Pas-de-Calais (France), 2016-Mar-18 — /EPR Retail News/ — Undisputed player among commercial real estate, Immochan participates at major events to present and market its major projects worldwide.

€ 1.8 billion of gross investments until 2018-2020.

Over 720 000 sqm of development are programmed in the pipeline for 2020. They are divided into several major projects: Pushkino in Russia and the Cloche d’Or in Luxembourg, with over 100,000 sqm total area each, and the extension of the gallery Piaseczno in Poland that will reach 83,000 sqm total area, representing 220 stores until 2020.

Besides, the strengthening of existing shopping centers, in France and Italy in particular, with remarkable extensions is also expected : Rescaldina and Bussolengo Italy (respectively 54,300 m² and 19,500 m² of total area after extension), and over 20 extensions-renovations in the French pipeline. The company also continues its expansion in China and plans to open 6 galleries in 2016.

Discover the projects and development opportunities at the upcoming shows:

March 15 to 18, MIPIM, Cannes
March 23, Retail Connections, London
April 15, Retail Connections & China Retail Summit, Shanghai
20,21 and 22 April, REX Real Estate eXhibition, Moscow
June 15 and 16, SIEC, Paris
16, 17 and 18 November, MAPIC, Cannes

More information

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Immochan presents its major projects worldwide at major events

Immochan presents its major projects worldwide at major events

Immochan names Philippe GRACIA as its new Human Resources Director

Following the reorganisation of Groupe Auchan into three independent businesses, Immochan reinforces the Board of Directors. Philippe GRACIA has been appointed HRD in one of Europe’s leading commercial real estate companies.

Croix Cedex, France, 2016-Jan-20 — /EPR Retail News/ — Aged 56 and with a Masters in Human Resources, Philippe Gracia began his career in 1983 at Auchan in Périgueux and then held several positions within the group.

He successively held the positions of department manager, checkout manager, head of human resources at the San Sebastian store, Director of Human Resources for the French Western Region, Director of Human Resources for the France Hypermarkets Division (1996-1998), Auchan Poland’s Human Resources Director (1998-2006), Director of Purchasing and Logistics then CEO of Auchan Poland (2007-2010). He was appointed in Decembre 2010 Director of Human Resources for Groupe Auchan.

As HR Director at Immochan, his particular role will be to support the digital transformation of the company, which after 40 years of existence is beginning a new chapter in its history.

Contact
Groupe Auchan
40, avenue de Flandre – BP 139
59964 Croix Cedex – France

SOURCE: Immochan

Immochan presents its ambitious development programme at Mapic 2015

Croix Cedex, France, 2015-11-19 — /EPR Retail News/ — Immochan maintains the high level of investment previously announced and a significant development plan, representing more than €1.5 bn between 2015 and 2017 to develop its assets and increase their value.

Major projects are becoming a reality

The strategy of developing Immochan’s assets and increasing their value has proved its worth, with major success stories in 2015.

In Romania, the “Coresi” centre was opened on 26 March in Brasov. Coresi is the largest urban regeneration project in the country and a regional magnet built to respect its environment, with a “Very Good” BREEAM certificate.

Shopping and leisure are combined there using unprecedented architecture to create a place for experiences and a benchmark for living well for residents and tourists. The shopping centre has 130 shops over 32,000 sq. m, a food-court and a 13,300 sq. m Auchan hypermarket. After buying 12 shopping malls (ex Real) at the beginning of 2015, Immochan is now opening its 23rd shopping mall in Romania.

In France, “Les Saisons de Meaux” opened its doors to customers on 20 October last year. The centre offers more than 100 shops spread over 30,000 sq. m of retail space, along with a 2,250 sq. m food court, and a 3,100 sq. m leisure centre.

Designed as an urban walkway, “Les Saisons de Meaux” is a place for living on a human scale, bright and compact. The “Very Good” BREEAM certificate obtained on 8 May last year is part of Immochan’s CSR policy and its commitment to efficiently managing its shopping centres. “Les Saisons de Meaux” represents an investment of €120m.

Major projects for 2020, presented at MAPIC

Immochan is expecting nearly 50 extensions or new projects to open in the next 3 years.

In Italy, the Rescaldina shopping centre extension project will be delivered in 2017. This centre is a space for the whole family, where shopping, relaxation and entertainment come together to offer a unique customer experience. A leader in its catchment area, it welcomes 9.5 million visitors per year. The 19,500 sq. m extension will mean that 70 new shops can be created, an offer involving both personal and household goods.

La Cloche d’Or, or “The House of Brands” in Luxembourg, a mixed development of 100,000 sq. m will be delivered in 2018. A “Premium” shopping centre of international stature developing 75,000 sq. m, a luxury housing complex of 25,000 sq. m reaching a height of 60m. Three levels of trading will hold more than 120 shops, 15 restaurants, and a 12,500 sq. m Auchan hypermarket.

The Pushkino development in Russia will provide a shopping and leisure centre at the end 2017. 104 shops including a food-court, medium sized sport, electronics and leisure stores spread over 37,500 sq. m of shopping malls to create one of the most modern centres in the Moscow region.

In Poland, “Galeria Piaseczno” in Warsaw will be expanded to cover 83,000 sq. m and become a regional centre in 2020. This modern shopping and leisure centre will meet the requirements of the residents in the region. 220 prestigious international retailers will be housed there along with a vast food-court and a recreational area of nearly 800 sq. m specially for children.

Finally, in Aubagne (France), the Alpha 2017 project will be an a new kind of urban centre, combining housing, offices and hotels, well served by and connected to the heart of an urban hub. The centre is a real leisure destination, which will offer dining spaces with open terraces and numerous sporting, art and music events.

Contact

Groupe Auchan
40, avenue de Flandre – BP 139
59964 Croix Cedex – France

SOURCE: Groupe Auchan

Immochan opens its 97th shopping centre and the largest one in France, Les Saisons de Meaux

Croix Cedex, France, 2015-10-21 — /EPR Retail News/ — The opening of Les Saisons de Meaux illustrates the will of Groupe Auchan to pursue its development in France under the sign of innovation and ambition.

Les Saisons de Meaux is the 97th shopping centre managed by Immochan (the largest one!) and the 120th Auchan hypermarket in France. Above all, it is the theater of many firsts and innovations.

Happy Together !

Immochan launches with Les Saisons de Meaux its Aushopping label. Les Saisons de Meaux will unfold day after day the values of fun, boldness, sharing and closeness of this innovative approach. It is a new vision of trade, physical and digital, that puts the relationship at the center of everything. A human vision and entertaining trade. An overall experience that offers customers the opportunity to live with family or friends moments of shared happiness.

Cinextrem World : a unique complex in France!

Original 5D cinema concept, Cinextrem makes you discover sensations that are usually available only in large attraction centers. 6 seats, a film to be selected among 15 and let’s go for 5 minutes of complete immersion. According to the chosen film, various special effects (winds, rain, snow and even soap bubbles), come to surprise the viewer. A mind-blowing experience, an exclusiveness in the Paris region, where an indoor ropes course, a 360° flight simulator and car driving simulators will also be available.

Hyper innovative & hypo energy

From its design to its operation, Auchan Meaux was thought in the direction of sustainable development. Thus, with forecast consumption 299 kWh/sqm/year, the hypermarket is the least-energy consumer in France. Auchan Meaux is labelled ISO 50001, a certification obtained this summer by Auchan France.

Auchan Meaux, a new concept of innovative and connected hypermarket

Within Les Saisons de Meaux, Auchan opened its 120th hypermarket in France. Deployed on 12,000 sqm, this new store with connected services offers consumers a new experience of shopping through its digital innovations, modern and sleek design, its new assisted sales areas and surprises events planned in a dedicated space that will punctuate the key moments of the year.

Tastes & flavours of Meaux : gourmand offers from local suppliers

Partner of more than 30 local producers, the new Auchan hypermarket is committed to offering the residents a wide range of high quality products throughout the year. Customers recognize specific flavors to the locality, such as the Meaux Pommery mustard, meat des Lys, champagne Baron Albert or the cheese of Brie. Store employees are trained from local producers to perfect their knowledge products and better inform residents.

Auchan Meaux rooted in its time

Auchan Meaux will be the first hypermarket to wear the Auchan.fr banner, symbolizing its foothold in the digital sphere. Modern and comfortable, the store is equipped with free wi-fi connection, 54 digital screens and 8 terminals connected for controlling directly at the products not available in stores. Purchases are delivered at store or at home. A new electronic tagging is deployed throughout the sales floor allowing many innovations: temperature sensors, inventory management indicators, remains to deliver, breakage sensors … So many solutions to make life easier for teams.

A living place at humane scale, bright and compact

Designed to scale of the pedestrian, Les Saisons de Meaux fit perfectly into their environment. This innovative program can be walked from one end to the other in just 5 minutes. Its design on 2 levels offers a panoramic 360-degree view, enhanced by a vast canopy of several thousand sqm, giving a feeling of freedom and brightness. Natural light offers comfort and a unique wellness sensation. Buildings with large glass openings, wood-coated facades, games of vertical and horizontal lines… form a harmonious and graphics building.

Contact
Groupe Auchan
40, avenue de Flandre – BP 139
59964 Croix Cedex – France

SOURCE: Groupe Auchan

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EUR 120M Les Saisons de Meaux shopping center in France opens – Immochan

Croix, France, 2015-10-20 — /EPR Retail News/ — Immochan inaugurates its latest creation, the shopping center Les Saisons de Meaux in France.

Shopping for pleasure, major international and independent local stores, restaurants with flavors from around the world: welcome to the world of Seasons of Meaux.
  • 120M€  of investment
  • 100 shops including 12 key tenants on 30 000m² of shopping mall GLA on 2 levels
  • a hypermarcket Auchan of 12 000m²
  • ​Un pôle restauration
  • Un pôle loisirs

The opening of Les Saisons de Meaux illustrates the will of Groupe Auchan to pursue its development in France under the sign of innovation and ambition. We are proud to contribute with this great entrepreneurial success, to economic activity and employment in a dynamic and attractive urban area​. Vianney Mulliez, president of the  Groupe Auchan

SOURCE:  Immochan International

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EUR 120M Les Saisons de Meaux shopping center in France opens - Immochan

EUR 120M Les Saisons de Meaux shopping center in France opens – Immochan

Immochan plans to open 50 new centres or extensions by 2017

IMMOCHAN AT THE MAPIC 2015

Croix, France, 2015-10-20 — /EPR Retail News/ — By 2017 Immochan plans the opening of 50 new centres or extensions for a record amount of investment.

This significant development plan, in France, Eastern Europe and Asia includes an important number of large scale projects, with 10 sites of more than 50,000m2 of total surface area. The company will invest more than 1.5 billion Euros gross in the development and improvement of its park by 2017.

Plan your meetings with our international leasing teams by now

Immochan to attend the Retail Connections on March 25 in London

Croix, France, 2015-3-2 — /EPR Retail News/ — Do not miss the chance to meet our international leasing teams in order to consider new opportunities of development, to join our strong commercial network and to get involved in one of our 70 new projects.

Present in 12 countries, Immochan plans to invest more than 1,5 billion euro in the 3 years to come.

Make an appointment

Visit the B13 stand from 9am to 6pm at the Business Design Centre. ​

More information about Retail Connections

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Immochan to attend the Retail Connections on March 25 in London

Immochan to attend the Retail Connections on March 25 in London

Immochan and Alaska Permanent Fund Corporation (APFC) enter into strategic joint venture

CBRE Global Investors advises Alaska Permanent Fund on first acquisition in Continental Europe

Madrid, 2014-11-5— /EPR Retail News/ — Immochan and Alaska Permanent Fund Corporation (APFC) represented by CBRE Global Investors, have entered into a strategic joint venture, with the first investments being joint ownership of two existing shopping centres in Spain and Portugal, in a transaction valued at around €280 million. The transactions are APFC’s first investments in Continental Europe.

Under the partnership agreement, APFC will acquire from Immochan 50% of shares of companies holding these two assets: Zenia Boulevard, a 83,000m2 regional shopping centre located in the province of Alicante and Alegro Alfragide a 39,000m2 shopping centre located in Lisbon. Both Centres are an example of the new generation of high quality shopping centres developed and managed by Immochan. Other investments will potentially be added to the strategic joint venture.

Immochan will continue as property manager. Asset management will be shared between Immochan and CBRE Global Investors.

The transaction is due to close shortly, pending regulatory approvals.

The objective of the partnership for Immochan is to support its growth strategy which includes the development of 70 new shopping centres and extensions over the next three years, with a total investment plan of over €1.7 billion.

CBRE Global Investors was awarded the Continental European separate account mandate by APFC in January 2014. It is an extension of a long standing relationship in the United States where CBRE Global Investors manages a diverse portfolio of assets across North America on behalf of the Fund. The mandate is to build a core/core plus real estate portfolio in Continental Europe.

Mike Burns, CEO and Executive Director, Alaska Permanent Fund commented:
“We are excited about the opportunity to team up with Immochan in our first high quality retail acquisitions in Spain and Portugal. We look forward to expanding this strategic partnership as we work to build out our portfolio across the region.”

Myles Sanger, Portfolio Manager, CBRE Global Investors commented:
“We are seeing a growing trend of cross-border capital flow and with this being APFC’s first investment in Continental Europe, it is another strong indicator of investors looking to diversify their portfolios abroad.

Securing these assets for APFC is a great start for their European allocation. The properties perfectly match their strategy to acquire high quality assets which provide a secure income stream over the long term, while complimenting their existing core portfolio in the US.

”To have also joined forces with Immochan is a very exciting joint venture for us. They are one of Europe’s largest property companies and we are already looking for further ways to develop this relationship.”

Stephane Leverger, Director of Investments and Asset Management, Immochan commented:

“Entering into a strategic joint venture with the Alaska Permanent Fund is consistent with the evolution of Immochan development which aims to build a strong and lasting relationship with public and private investors. We are thrilled to have been able to partner with APFC and CBRE Global Investors in this important operation that holds the promise of bringing future success and development projects for Immochan, the real-estate subsidiary of Groupe Auchan.”

The legal advisors acting on behalf of Immochan were De Pardieu Brocas Maffei, Uria Menéndez, and Garrigues, the real estate advisors and financial advisors were Retail Partners Europe and PWC.

On behalf of Alaska and CBRE Global Investor the legal advisors were Baker Mckenzie and Abreu, and the financial advisors were Deloitte.

– Ends –

Myles Sanger, Portfolio Manager, CBRE Global Investors and Stephane Leverger, Director of Investments and Asset Management, Immochan are available to talk more fully about the joint venture if you wish for an interview to be sent up.

NOTES TO EDITORS

Shopping Centre Facts

Zenia Boulevard
Description: A dominant regional shopping centre
Location: Alicante Coast, Spain
Opened: 2012
Occupied: 100% leased
Catchment: 900,000
Tenants: Anchored by a 14,000m2 Alcampo Hypermarket, as well as Leroy Merlin, Decathlon, Conforama, Norauto, Media Mart and a strong fashion offer lead by Inditex, H&M and Primark as well as a large foodcourt and leisure activities
Visitors: Attracted over 11 million visitors in its first trading year

Alegro Alfragide
Description: A successful and consolidated shopping centre that forms part of one of Portugal’s largest retail destinations
Location: Western Lisbon, Portugal
Opened: 1988 and the gallery was developed in 2007
Occupied: 100% leased
Catchment: 600,000
Tenants: Anchored by a 19,200m2 Jumbo hypermarket, and has a strong retail offer including FNAC, Zara, C&A, a large foodcourt and cinema offer
Visitors: Over 9 million a year

FURTHER INFORMATION

About Alaska Permanent Fund
The Alaska Permanent Fund was created by referendum in 1976 to save a portion of the state’s oil revenue for the future. The Fund is currently worth about $50 billion. In 1980, the Alaska State Legislature created the Alaska Permanent Fund Corporation to manage the investments of the Permanent Fund outside of the State Treasury. The Fund is invested in a diverse portfolio of assets, including U.S. and non-U.S. fixed income securities, equities and real estate, as well as infrastructure, absolute return and private equity investments. A portion of the Permanent Fund earnings are distributed to eligible Alaskans, and these dividends have ranged from $331 in 1984 to $2,069 in 2008. In the fall of 2013 dividends of $900 were paid to 650,000 Alaskans.

About Immochan
Immochan is one of Europe’s largest property companies with over 362 shopping centres and more than 2, 3 million sqm of shopping centres under management. Founded in 1976 Immochan is a subsidiary of Groupe Auchan that operates in 12 countries and has over 800 employees across Europe and Asia. The real estate portfolio under its ownership of Immochan has a gross value of € 7, 3 billion the company has a development pipeline of 700,000m2 of GLA. Via its new strategy of investment and development Immochan has the means to achieve its ambitious plans while supporting the development of Groupe Auchan. www.immochan.com / http://www.groupe-auchan.com/en/

About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $90.2 billion in assets under management* as of March 31, 2014. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.

CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.

*Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.

For further information:
Helen Stott
Communications
Helen.stott@cbreglobalinvestors.com
+ 44 (0) 20 7809 9098

Céline Cottrez
Immochan International Communication
ccottrez@immochan.com
+33 (0) 3 61 76 32 35

Immochan’s Italian subsidiary GCI transfers 3 assets worth €266 million to real estate investment fund managed by E.N.P.A.M foundation

Immochan’s Italien subsidiary GCI transfers 3 assets to a real estate investment fund, managed by the E.N.P.A.M foundation, worth €266 million.

Croix, France, 2014-9-16— /EPR Retail News/ — The portfolio value, worth €266 million, concerns the shopping malls of Mestre, Bussolengo and Mesagne, with a total surface area of nearly 60,000 sqm. The transaction includes the future extension of the Bussolengo shopping mall, which will be transferred in the Fund at the time of its opening.

Immochan will be issued a minority stake in the fund and will provide property and leasing management services in relation to these assets. The majority investor is the ENPAM Foundation, National Welfare and Assistance Fund for doctors and dentists.

This transaction is part of Immochan’s very ambitious expansion strategy that plan on carrying out about 70 projects of creation and extension of its shopping centers in the next 3 years and a total investment amount of approximately €1.7 billion. Investments including in Italy, where in 2013, Immochan completed the extension of Mestre and Vimodrone and where other mall extensions are expected by 2018 in Rescaldina, at the gateway of Milan, Piacenza, Fano and Taranto.

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