Militari Shopping Center put at 46m euros

The Militari Shopping Center in Bucharest, which currently includes a unit of the DIY retailer Praktiker, was last year put at 46 million euros by Meinl European Land, the owner of the project. Meinl acquired the Militari-based project developed by Belgian-held Liebrecht & wooD several years ago, for around 20 million euros. The shopping centre has a lettable area of 10,800 square metres, but the company, listed on the Vienna Stock Exchange, will continue investments in this retail park, and plans to build a hypermarket and shopping gallery, following a 66 million-euro investment, according to available data. Next year will see the inauguration of an Auchan hypermarket and a shopping gallery, which will house brands such as New Yorker, C&A, Decathlon, Hervis and Humanic. Additionally, the park will also be home to a Media Galaxy store, which sells electronics and home appliances. The company posted gross revenues worth 1.35 million euros last year from renting this project, with net revenues worth 0.83 million euros.