Positioned for growth

The EUR 169.5 mln acquisition of the Promenada shopping centre in Warsaw in December has put Atrium European Real Estate right back into the spotlight. Although the company is somewhat reticent when it comes to sharing the details of its strategy, it is still clear that in Poland at least Atrium has major expansion plans. The transaction marked the end of a busy year for the Jersey-based closed-end investment company, which armed with a new name (it was founded in 1997 as 'Central European Land Limited' before being renamed Meinl European Land Limited' in 2002) and under a new management, has been trying to improve its operational efficiency as well as its financial performance."Our goal is to become one of the largest commercial real estate companies in the CEE region. As the market improves we are now focusing on acquisitions of shopping centres. We would like to be present in all of Poland's major cities, where we would like to buy big retail projects," explains Katarzyna Cyz, Atriu