Real estate machine

Tarasy Zamkowe in Lublin has a leasable area of 38,000 sqm and 125 shops (this will eventually be increased to 150). “We hope that the centre will have a monthly footfall of 800,000 people and that the return on the investment will amount to 15 pct per year,” said Eduard Zehetner, the president of the board of Immofinanz Group. In spite of the fact that the mall is Immofinanz’s debut development inPoland when it comes to medium-sized facilities, the company has extensive retail experience in the country. In 2006 it purchased one of the largest Polish malls –SilesiaCityCenter inKatowice (with an area of 89,000 and almost 340 stores) from TriGranit Development Corporation for EUR 170 mln. After seven years of managing the complex the company finally decided to sell the project to a consortium made up of Allianz and ECE Projektmanagement (and other undisclosed partners) for EUR 412 mln. Immofinanz also has experience when it comes to extension projects. During its