Corporate News
Corporate News

IMMOFINANZ opens further VIVO! shopping center in Poland

IMMOFINANZ has successfully completed and opened another shopping center in Poland under its VIVO! retail brand. The first stage of the VIVO! Stalowa Wola has approx. 22,500 sqm of rentable space for roughly 80 shops. The tenants include well-known retailers like Intermarché, H&M, Deichmann, Media Expert, LPP Group and many more. Today, Thursday, marked the official opening, which was attended by representatives of the city government, IMMOFINANZ, the development partner Acteeum Group and the general contractor Erbud. The investment costs for both sections are expected to total approx. EUR 44 million. Construction on the second section is scheduled for completion in summer 2016 and will add a further 10,000 sqm of rentable space.

“With VIVO! we have established a retail brand whose size, focus and offering are ideal for medium-sized cities with a catchment area of at least 200,000 residents. The focus here is on fashion and entertainment with strong anchor tenants“, explained IMMOFINANZ COO Dietmar Reindl at the opening. “Our plans call for the further expansion of VIVO! as well as our STOP SHOP retail park chain in Central and Eastern Europe.“

Stalowa Wola is located in the south-eastern region of Poland in the Carpathian Foothills administrative district. The city is an important hub and employer for the region, and the catchment area has nearly 400,000 residents. VIVO! Stalowa Wola stands out not only with its location in the heavily populated neighbourhood of Poreba, but is also easily reached by public transportation and offers good connections to the road network. Visitors to the shopping center have roughly 1,000 parking spaces at their disposal. IMMOFINANZ is realising VIVO! Stalowa Wola together with the Acteeum Group, a retail project specialist (shareholdings: 86% IMMOFINANZ Group, 14% Acteeum Group).

IMMOFINANZ completed and opened its VIVO! shopping center in the Polish city of Piła during October 2014. In its first year, the shopping center saw roughly three million visitors.