NEPI Rockcastle, Central and Eastern Europe’s largest owner, operator and developer of shopping centres is expanding its 70,000sq m Karolinka Shopping Centre in Opole, southwest Poland, close to the Czech border.
An 11,000sq m extension and partial redevelopment of the mall will add 30 retail units and a new underground car park while the entire façade will undergo modernisation to seamlessly blend the new and existing buildings. Building permits have been granted and construction is expected to start later this autumn.
NEPI Rockcastle has designed the new units to attract fashion retailers not yet present in the region due to a lack of suitable space and is in advanced talks with several brands looking to secure leases in the Karolinka extension.
Paulina Kurdziel-Świeczka, Asset Manager at NEPI Rockcastle said: “Our investment to increase the retail space and upgrade the Karolinka Shopping Centre stems directly from strong market demand. We are creating modern spaces perfectly tailored for brands that have not yet secured an appropriate location for their debut in the city, while ensuring that our centre remains competitive in a dynamic economic environment.”
Marius Barbu, Chief Operating Officer, NEPI Rockcastle added: “Portfolio optimisation is a core pillar of NEPI Rockcastle’s growth strategy. Actively seeking opportunities to modernise and expand our shopping centres not only ensures that our destinations continue to meet the needs of local and regional markets but also delivers increased operating income from the new floor space.”
