BIG is expanding its operations in Europe and entering the Polish market for the first time by purchasing two open commercial centers in Poland with a total value of 65 million euros. The first commercial center is located in the city of Andrychow and comes with a leasable area (GLA) of approximately 23,300 sq m with an occupancy rate of 100%. The complex, in the style of a retail park, similar to some of the BIG Centers in Israel, Serbia, and the USA, serves approximately 200 thousand people.
The commercial park has several anchor tenants, including the LIDL supermarket and the DIY stores’ chain Leroy Merlin, as well as tenants in the electrical, fashion, sports, leisure, and other sectors. The second commercial center in Lubin includes a leasable area (GLA) of approximately 13,300 sq m and is expected to be open to the public during September 2022 with an occupancy rate of approximately 100%. The commercial center has several anchor tenants and leading brands in Europe, including CARREFOUR, Media Expert, Sports Direct, CCC, Sinsay, Jula, and more.
“Becoming a prominent player in the market”
Hay Galis, CEO of BIG, points out that these purchases reflect the company’s plans to locate strategic assets in Eastern Europe and the Balkans. “Entering the Polish market is essential to becoming a prominent player in the market and Poland is full of potential for development”, says Galis. “At the same time, we continue to expand the activity in Eastern Europe through AFI Properties, which is currently in a boom of activity, as reflected in the scope of the new transactions it carried out during the last year and in the development of projects under construction.”