Poland’s Arkadia Mall sold for 1.5b Polish Zloty

Warsaw, Poland 7 February, 2010 - Three of Warsaw’s most modern and prestigious shopping centers will be under a single ownership.

Unibail-Rodamco which already owns Galeria Mokotów and half of Zlote Tarasy just bought out Arkadia.

Arkadia Mall, with over 100,000sq m of retail space, is not only Poland’s largest shopping center but also one of the biggest in Europe.

And last Friday the Dutch-French conglomerate Unibail-Rodamco, which already has over 100 shopping centers in 12 European countries, including France, the Netherlands, Spain and Sweden, announced it would be taking over.

Unibail-Rodamco also bought Warszawa-Wileñska shopping centre on the eastern side of the Vistula and five French shopping centers in the transaction totaling 711 million Euro, or 2.8 billion PLN.

So Poland’s Arkadia, valued at as much as 1.6 billion PLN was a major part of the deal.

The transaction should be finalized mid-2010 but is still waiting for the thumbs up from the Polish Office of Competition and Consumer Protection.

Warsaw has a total of 1.33 million sq m of modern shopping centre space, of which 15 per cent will be in Unibail-Rodamco control when the transaction goes through.

By Victoria Ziarkowski
Freelance Writer

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