Eurofund Group has published new data on the long-term economic, social, and environmental impact of its transformation of the Rhein-Ruhr Zentrum (RRZ) in Mülheim an der Ruhr.
According to a socioeconomic report prepared in collaboration with EY, the modernized RRZ is projected to generate EUR 480 million in annual gross value added for the German economy once the renovation is complete and the center is fully operational. The project is also expected to support more than 7,900 jobs across the wider economy, with annual tax revenues from the center’s operations forecast to reach EUR 204 million.
Beyond its economic contribution, the report highlights the additional benefits of modernizing the site. The transformation will improve accessibility throughout the center and create more comfortable, welcoming communal spaces, reinforcing the RRZ’s role as a social hub and destination for the broader Ruhr region.
The project also includes a series of measures to improve the center’s environmental performance. Investment in energy efficiency and sustainable infrastructure supports the long-term goal of climate neutrality and is intended to future-proof the site for generations to come.
The report also points to a multiplier effect on the regional economy: every euro invested or spent at the RRZ is expected to generate EUR 3.28 in added value following the redevelopment, while each direct job at the center is projected to support a further 2.67 jobs across the wider economy.
“The modernization of the Rhein-Ruhr Zentrum goes far beyond renewing a retail destination,” said Olaf Ley, CEO Retail Germany at Eurofund. “We are creating a place that will be more accessible, more comfortable, and more sustainable for all visitors. By upgrading communal spaces and implementing measures to support climate neutrality, we are investing in the long-term future of both the center and the wider region.”
Within the Mülheim an der Ruhr economic area specifically, the RRZ’s operational phase is expected to generate EUR 346 million in annual gross value added and support more than 6,200 local jobs.
Germany’s First “Shopping Resort”
Originally opened in 1973, the Rhein-Ruhr Zentrum is one of Germany’s best-known retail destinations, currently welcoming more than four million visitors per year.
As part of a comprehensive repositioning and modernization program led by Eurofund Group and Signal Capital, the center is being redeveloped into Germany’s first “Shopping Resort”, an integrated destination bringing together retail, food and beverage, leisure, and entertainment under one roof. The redevelopment aims to significantly improve visitor comfort, accessibility, and sustainability standards while strengthening the RRZ’s position as a vibrant social destination for the Ruhr region.
Economic and Social Impact Across Europe
The RRZ results reflect the broader contribution of the Eurofund Group to economic development and community building across Europe. According to EY’s analysis of the group’s European portfolio, Eurofund supports around 26,000 jobs and generates EUR 1.188 billion in annual gross value added. The study also highlights a significant multiplier effect at the group level: every euro generated by Eurofund creates an additional EUR 5.60 in economic value, while each direct job supports an average of five further jobs across the wider economy.
“At Eurofund Group, we take pride in making a tangible contribution to the economic and social development of the communities where we operate,” said Ion Saralegui, CEO of Eurofund Group. “Our commitment goes well beyond creating retail space. We want to generate employment, strengthen local economies, and support the economic fabric of the regions we work in. The EY report demonstrates that each of our investments produces a multiplier effect that benefits thousands of families and businesses, and confirms our strategy for sustainable growth.”
(dp)
