Futureal expanded its stake in the Nova Park retail project in Gorzów Wielkopolski from 50 percent to 100 percent. The agreement was signed this month. The shopping center was a joint venture between Futureal and Caelum Development. The 32,400 sqm shopping center was delivered in April 2012 and has been increasing its footfall by 25 percent annually since then. The investment cost €120m, €50m of which was financed by a bank loan. The shopping center introduced a lot of new brands to the local market.
Futureal said Nova Park will be a first step in the investor’s new strategy to provide financing for development projects across Poland.
