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6th October, 2017

Aréna Plaza buys adjacent land

NEPI Rockcastle, the new owner of Budapest shopping mall Aréna Plaza, has bought 21,788m2 of land next to the mall for €2.5 million, the seller Plaza Centers announced on Thursday.

The two-hectare site was directly sold by Kerepesi 5, a subsidiary of Plaza Centers.

If the new owner wishes to expand the mall, then it has to take into calculation the so-called plaza-stop law restricting construction of large retail facilities, Portfolio added.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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