Belgian real estate developer City Mall wants to invest 150 million euro into new projects in the east of Poland and on Sicily. These new projects should open in the next 4 years.
Alongside local partners, the company will found subsidiary City Mall Poland in Chelm, close to the Ukrainian border. The 32,000 sqm location will have a 10,000 sqm retail park, a 5,000 sqm supermarket and a 17,000 sqm shopping mall. The joint venture will also build a 30,000 sqm park in Rzeszów, also in Eastern Poland.
In Italy, the company has entered a collaboration with the Franza group to create the 45,000 sqm Motta S.Anastasia outlet center on the east coast of Sicily, in Catania.
According to City Mall, these three separate projects should easily be finished in the next few years. "The time to get permits in these areas is much shorter and we are on the verge of getting them already", Patric Huon, the entrepreneur who leads City Mall, told Belgian newspaper De Tijd.