DGAP-News: IMMOFINANZ Group lays foundation stone for Tarasy Zamkowe shopping center in Lublin

DGAP-News: IMMOFINANZ Group lays foundation stone for Tarasy Zamkowe shopping 
center in Lublin 

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ Group lays foundation stone for Tarasy Zamkowe shopping
center in Lublin

30.10.2013 / 15:51


With Tarasy Zamkowe, IMMOFINANZ Group is realising a high-quality shopping
center in the heart of Lublin, close to the historical castle. Today,
Wednesday, the foundation stone was laid at a ceremony attended by Mayor
Krzysztof Żuk. The event also included representatives of IMMOFINANZ Group,
the general contractor Warbud and the architecture firm Stelmach I
Partnerzy. This center for shopping, entertainment, relaxation and
recreation will have up to 38,000 sqm of rentable space and create an ideal
location for approx. 150 shops. The opening is scheduled for the last
quarter of 2014. The costs to completion will total approx. EUR 95 million
(PLN 398 million).

'Lublin is an attractive market for the retail trade with its 350,000
residents and a catchment area with a population of 800,000. The interest
of potential international, national and local tenants confirms this
standing. We recently signed a contract with the Spanish Inditex Group,
which is one of the world's largest fashion retailers', explains Eduard
Zehetner, CEO of IMMOFINANZ Group. Inditex will be represented in the
Tarasy Zamkowe with all seven brands (Zara, Pull & Bear, Massimo Dutti,
Bershka, Stradivarius, Oysho and Zara Home) on 5,300 sqm. 'We expect a
broad and balanced tenant mix, including well-known brands that were
previously not available in Lublin or the nearby region.'

Grzegorz Chudzik, member of the Management Board of Warbud S.A: 'We are
proud to be the general contractor of this prestigious development project.
Over the last three and one-half months we have built in nearly 2,500
tonnes of steel and poured more than 34,000 cubic meters of concrete. The
construction of the bottom slab and the associated installations are
finished, and the building core and shell should be completed by spring

'Our aim is to revitalise the neighbourhood surrounding Lublin Castle and
the Old Town. In order to do this, effective cooperation between the
investors and the owners of the adjacent lots is critical. The realisation
of the Tarasy Zamkowe fits perfectly with our plans: the shopping center
will be located in a historical area and also expand the retail offering in
Lublin. At the same time, the investment will make an important
contribution to creating a new road system', says Krzysztof Żuk, the Mayor
of Lublin.

Bolesław Stelmach, architecture firm Stelmach I Partnerzy: 'Tarasy Zamkowe
is not only a sustainable, environmentally friendly shopping center that
meets the BREEAM energy efficiency standard, but also a cultural and public
area that will create a friendly and attractive meeting place for the
residents of Lublin - both inside and outside the building.'

Fast progress of construction 
More than 230 persons are currently operating in two shifts at this largest
construction site to date in Lublin: the excavation works as well as the
bottom slab and the diaphragm walls have already been completed. Every day
roughly 400 cubic meters of concrete are poured and 45 tonnes of
reinforcement material are installed. 40 truckloads arrive at the site on a
daily basis, and 92 construction containers have been set up. Preparations
have also been made for the coming winter months: lighting and heating
equipment will also allow for the fast progress of construction during the
colder months.

Tarasy Zamkowe - a specially designed shopping center for Lublin
Tarasy Zamkowe will provide space for 150 retail shops and three
restaurants as well as numerous cafés and snack bars. The construction area
totals 105,000 sqm and includes 38,000 sqm of rentable space and 1,400
parking spaces on three levels. This new shopping center, which is located
between Aleje Unii Lubelskiej and Tysiąclecia, can be easily reached by
public transportation, bicycle and on foot. Approx. EUR 12 million (PLN 50
million) will be used, among others, to implement a specially designed
traffic concept to ensure the problem-free coexistence of autos, bicycles
and pedestrians.

The design of the Tarasy Zamkowe combines unique architecture with high
ecological standards. A special highlight is formed by the green areas on
the building's roof: grassy areas, green paths and lookout points - at the
most spectacular spot, visitors have an excellent view of the historical
old city and the castle. Public areas at the corners of the shopping center
create quiet areas as well as space for special events. Plans are also in
progress to obtain BREEAM 'very good' certification for the facility.

IMMOFINANZ Group is one of the leading listed property investors and
developers in Europe. The company is included in the leading ATX index of
the Vienna Stock Exchange and also trades on the Warsaw Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,700 investment properties
with a carrying amount of approx. EUR 10.4 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. IMMOFINANZ Group concentrates its activities in the
retail, office, logistics and residential segments of eight regional core
markets: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania,
Poland and Russia.
Further information under: http://www.immofinanz.com |
http://blog.immofinanz.com | http://properties.immofinanz.com

For additional information please contact:


Bettina Schragl
Head of Corporate Communications | Press Spokesperson
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290

Stefan Schönauer
Head of Corporate Finance & Investor Relations
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312

End of Corporate News


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Language:    English                                                  
Company:     IMMOFINANZ AG                                            
             Wienerbergstraße 11                                      
             1100 Wien                                                
Phone:       +43 (0) 1 88090 - 2291                                   
Fax:         +43 (0) 1 88090 - 8291                                   
E-mail:      investor@immofinanz.com                                  
Internet:    http://www.immofinanz.com                                
ISIN:        AT0000809058                                             
WKN:         911064                                                   
Listed:      Freiverkehr in Berlin, München, Stuttgart; Frankfurt in  
             Open Market ; Wien (Amtlicher Handel / Official Market)  
End of News    DGAP News-Service  
236854 30.10.2013                                                      
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