Serenada mall with €140 million financing

France-based investment holding Foncière Euris will finance the construction of the Serenada retail center in Kraków. The investment is valued at €140 million. The developer of the scheme, Mayland Real Estate, is scheduled to start construction in October of this year and deliver it in 2016, Maciej Kiełbicki, managing director at Mayland Real Estate said. Serenada will offer 43,000 sqm of GLA and will be erected near the Krokus shopping center, which features a 20,000-sqm Real supermarket and 8,000 sqm of retail gallery, plus DIY store OBI, Toys’R’Us, McDonald’s restaurant, Norauto, a 12-screen Multikino cinema and Poland’s largest aqua park. Serenada will add mostly fashion brands and restaurant offer to the mix. The project is already 40 percent leased, including Inditex brands (Zara, Bershka, Pull and Bear, Stradivarius, Massimo Dutti, Zara Home) and LPP brands (Reserved, Mohito, House, Cropp, Sinsay, Home & You). The scheme will be anchored by the Piotr i Paweł supermarket. “Work on the project is at an advanced stage. ... We are now preparing and clearing the construction site,” Kiełbicki said.