Briefs
Project Maximus
Turkish developer EPC (Euro Power Centrum) started construction on its Maximus wholesale centre located in Nadarzyn near Warsaw. The project of four halls covering 23,000 sqm will house approximately 600 outlets. Situated only 4 km from the Janki retail complex and 19 km from the centre of the capital, the development (cost Euro 42 mln) is expected to rival the smaller Ptak textile centre near Łódź, which is only half its size. Budimex Dromex, the general contractor is said to be obliged to complete the construction work by October 2004 with tenants scheduled to begin operations two months later. Bovis Lendlease is the general supervisor for the project and DTZ will be acting as the agent. The Maximus centre was designed by the Polish architects APA Wojcechowski.
Castorama to quadruple in size
Kingfisher Plc, the British DIY to electronics retail group, has unveiled plans to quadruple the number of its Castorama stores from the current 19 to an eventual 80. By February 2005 seven of the new DIY stores will have been opened, and the group is also currently testing a smaller format outlet which occupies approximately 835 sqm. Castorama's main rival in Poland is Praktiker (part of the Metro Group) which currently has 16 stores.
100 mln euro Metro investment
German retailer Metro AG has announced plans to expand further in Poland during 2004. 8 new stores are on the cards: 4 Media Markt (consumer electronics), 2 Saturn (consumer electronics) and 2 Makro Cash and Carry wholesale centres. At the end of the 2003 financial year the Metro Group operated 83 stores in Poland.
Żabka jumps onto the Warsaw Stock Exchange
The owners of Żabka Polska, a national chain of 1,300 small franchised retail outlets, plan to quote the company on the Warsaw Stock Exchange. Between 25 and 30 pct of the equity is to be offered to investors. Currently 55 pct of the shares belong to Stadnina Koni Arabskich Sosnowiec and 45 pct to Rena Sarl, which is part of AIG Inc.
Foras Polska's profit up
The Danish firm Foras Holding has announced its financial results for the 6 months to March 31st. The company's Polish branch - Foras Poland - achieved a profit of EUR 5.95 mln (DKK 44.3 mln) before tax. During the same period last year its pre-tax profit was EUR 1.25 mln (DKK 9.3 mln). Foras activities in Poland comprise of the three shopping centres Targówek and Reduta in Warsaw and Plejada in Bytom as well as the shopping centre management company Foras Management Poland.
Plans for 50
Pharmacy chain Super-Pharm will be 50 stores strong by the end of 2009. In May the fifth branch was opened in the Blue City shopping center in Warsaw. The Koofflers family, owners of the chain, reveal that the investment in Poland will cost app. 30 mln dollars. The Super-Pharm pharmacies are also present in Canada (900 stores) and Israel (100).
Avans seeks backer
Mega Avans, which currently owns 2 home electronics stores, is l ooking for an investor to help it achieve its goal of rivalling the German brand Media Markt. The aim is to build a chain of 16 stores, which would require the injection of around 120 mln zł in exchange for a minority stake in the company. An IPO on the Warsaw Stock Exchange would then be scheduled to follow within a year.
KrakChemia to open new supermarket in Rybnik
Polish retailer - KrakChemia SA - has bought land and buildings from brewer Brok-Strzelec in Rybnik with the intention of constructing a new supermarket under the Alma brand. The deal, signed May 13th is reportedly worth PLN 4.5 mln for a plot covering nearly 12.000 sqm, including existing buildings on the site. The Kraków based firm, sold by the state to investors in 1990, branched out from wholesale operations during the last decade to open retail outlets and a shopping centre in its home city as well as in Tarnów. Also in the KrakChemia portfolio is the furnishings retailer Wnętrze Plus and DIY store Dom-Hobby-Ogród.
