Cefic announces winter sales

The company manages a diverse portfolio of retail properties, including Warsaw's Arkadia shopping center, which recently celebrated its two-year anniversary.

SI is currently negotiating with prospective clients and will sell some of its properties, while retaining full control over others. Among those up for grabs are Zakopianka in Kraków, Dąbrówka in Katowice, Wrocław's Borek, as well as the recently opened Arena in Gliwice.

"Many investment funds from all over the world are interested in purchasing these shopping centers," said Roman Skowroński, portfolio director of Cefic Polska. "The tender procedure that has been established to complete this transaction should be finished before the end of 2006."

According to Skowroński, one company might decide to buy all of the shopping centers SI has put on sale. Certain to remain within the SI portfolio are Arkadia, Warszawa Wileńska, and Wola Park shopping center, which is owned by Ivanhoe Cambridge.

Skowroński said that the funds collected from this transaction will be used for SI's future investment projects. It is not yet know if those projects will be located in Poland. The company is expected to announce its planned new investments in the first half of 2007.