Here is how to turn an old shopping centre into a modern, green one

Shopmark that used to be called Europark is a shopping centre in Kispest, Budapest that is temporarily closed due to reconstruction. The aim is to create a smaller ecological footprint by switching to green energy, as forbes.hu reports.

Shopmark lies in Határ Street, Kispest, Budapest and it will be closed from the 23rd of April due to reconstruction. Therefore, most of the renters move out in the first week. However, some of the renters got special permission for being open during the reconstruction. They are in Shopmark Point that is the only open part of the mall.

Shopmark before

The new plans

The new plaza is going to open in the third quarter of 2018 with a new look, new brands, and new stores.

The company responsible for the reconstruction is called KÉSZ Építő Zrt. (KÉSZ Building Ltd). They started with the facade in February even before the shopping centre closed and continue their work until it gets its brand-new look.

The entire building’s electric system will be updated, and renewable energy sources will be involved. Not only the mall itself but also its surroundings will have a different look.

Investing in the building industry

An investor, namely the Magyar Posta Takarék Ingatlan Befektetési Alap (Hungarian Post Savings Property Investment Fund), bought Europark in January 2017, before it got its new name. Diófa Alapkezelő Zrt (Diófa Funder Ltd) handles this fund. It was the Mészáros’s Konzum Nyrt that bought its other half, that is worth 11.9 billiard forints (about 38 million euros).

We have already reported that the property prices are increasing, but it is not limited to houses only. A huge sum of money flows to building shopping centres and offices as well. For example,

Gránit Pólus is planning on creating a city centre around WestEnd shopping mall with offices, stores, apartments, and hotels.

It is worth investing in shopping malls because the 8.2 percent increase of the Hungarian retail sales was in the first three places of Europe in the last quarter of 2017.

Source: forbes.hu