Real Estate News: Arkadia update; Jeronimo to sell Eurocash

Groupe Beg, the investor in Warsaw's Arkadia shopping mall, has announced the centre is over 60% leased. When completed, Arkadia will offer 200 stores, 20 restaurants, a 15-screen cinema and an entertainment centre on 110 000 square meters. Its main investor in the scheme is the French-American ERE Group, which, together with Cefic Polska is also its developer. Warbud is the general contractor for the centre. The estimated cost of the entire investment is euro 270 million ... Jeronimo Martins Dystrybucja, a Portugese concern which last year sold its five Jumbo hypermarkets, is planning to sell its Eurocash warehouses this month for euro 30 million. This will leave Jeronimo with 630 of its most profitable Biedronka supermarkets whose sales increased by 21% in the last year. (Real Estate News is c/o Lokale Immobilla 8/3, free with this week's Warsaw Business Journal)