240 million euro investment
Strabag Real Estate and ECE, a major German shopping centre developer,
take over the development of the shopping centre from Adalbertstrasse
Development Company, in which the two Dutchmen have a considerable
interest. Strabag and ECE each take a 50 percent share in the new
shopping centre.
Kaiserplatz-Galerie will measure 30,000 sqm, comprising about 130 shops
as it kicks off in 2015. So far, the 240 million euro project was funded
by SNS Property Finance, which has now also withdrawn from the project.
Mayor of Aachen relieved
The definitive sales agreement has been well received in certain media.
Aachen’s mayor Marcel Philipp was relieved: “A huge wasteland in the
centre of the city will finally be used again.”
When it eventually opens, the new shopping centre will have serious
consequences for shops right across the border in the Netherlands, since
it will welcome a number of international chain stores that are not yet
operating in Aachen, but have outlets in towns like Heerlen, Beek, Roermond
or Maastricht.
