The company will start the execution phase in the second quarter of 2020 and expects to complete most of the work still in 2020.
Allee shopping centre offers more than 140 shops, a 13-screen multiplex cinema, restaurants, offices, a fitness club and parking for 1,200 cars. The multifunctional complex attracts more than 18 million visitors each year and is one of the top shopping destinations in Budapest. The aim of the refurbishment is to secure Allee’s leading position in the increasingly competitive Budapest market.
Planning and design
Over the past year, Multi has worked hard to reposition the centre by attracting new and inspirational brands, including Reserved, Lindt, CK Jeans, Sloggi, Inglot and Tissot mono-brand store, and by launching a new marketing strategy. The refurbishment plans will enhance the shopping experience and redefine the centre’s function as a meeting place in the Hungarian capital. The concept was designed by Multi’s in-house architect group TT Design, while the construction plans will be prepared by well-known local designer company, Finta Studio. The new design will help modernise Allee, as well as create a relaxing, feel-good space for its visitors. The project represents a significant investment.
Attractive public space and F&B offer
The refurbishment of Allee, approximately ten years after its initial opening, demonstrates the owners’ commitment to the modernisation of the centre to keep up with consumer trends and expectations. Various design elements will be implemented in the common areas of the centre, creating an appealing public space. One of the key elements of the project is the renovation of the food court, which will create a fresh, new look and a modern environment for its customers. High-quality seating areas and additional services will support the activities in the centre.
Terraces and kiosks
The plans also include an upgrade to the exterior of the complex, making it livelier and more attractive. The project includes the creation of space for cafes, restaurants, terraces and kiosks. The playground that serves as a community resource will also be renewed. Multi will organise the work carefully to minimise any inconvenience to customers and tenants. When the works are completed at the end of 2020, the centre will offer a high-quality shopping experience for both visitors and retailers.
Multi’s value-driven approach
Multi took over the asset and property management of Allee in January 2018 after winning an international tender. Rüdiger Dany, Chief Operations Officer of Multi Corporation, says: “The renovation plans reflect Multi’s multidisciplinary project approach. By offering a complete package of services, including architectural design, redevelopment, leasing and centre management, Multi demonstrates that it is one of the most complete full-service retail asset managers in Europe. Continued critical analysis, reinterpretation and renewal of the retail assets guarantee value creation for the future. This way, we ensure that Allee remains a shopping centre where retailers can thrive and visitors want to come back to.”