The problems in that particular segment also affected the company’s revenues in Poland, according to the report published on Thursday.
Brute revenues for Military Shopping center dropped 19.3 percent, to EUR 3.1 million compared to EUR 3.8 million last year. The market value for the commercial center rose to EUR 68 million, according to the same report. The occupancy rate is at 100 percent, but the return-on-investment rate is stagnating at 9.1 percent.
Having a 51.400sqm area for rent, Militari Shopping was developed and is situated on the property of Land Development Project SRL, entity that belongs to the Atrium European Real Estate Limited group, one of the biggest developers and operators of shopping centers from the Central and East Europe. Atrium European Real Estate Limited was established in accordance with the Jersey law, Channel Islands, in the year 1997, being listed at the Vienna Stock Exchange (the ATR symbol).
Atrium European Real Estate Ltd is active in 11 states from Central and East Europe and the Community of Independent States. Since its establishment, its portfolio has increased dynamically, so that at the end of 2008 it detained over 150 assets with a market value of over 1.75 billions of Euros, having rent incomes of 134 millions of Euros.
Back in February, Search Chemicals, a company controlled by Turkish business man Omer Susli, bought Praktiker operations in Romania. (source: business-review.eu)
