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Gearing up the first outlet
 
Gearing up the first outlet
 
The economic crisis and bureaucratic "Curb" the progress of implementation, but now it seems that the first discount "village" of McArthurGlen in Greece is in the final phase.

Originally scheduled to start operation in early 2010 the outlet of the British multinational company is estimated to open in the second quarter of 2011.

The investment of EUR 80 million will be spread over 20,550 thousand square meters in Spata, and will be implemented in the McArthurGlen property purchased by the group Ellaktor located near the commercial center of the Reds and the zoo of "Attiko". The Bluehouse Capital will participate in the project , an investment company designed to develop and operate real estate and infrastructure projects in Southeastern Europe.

In the center of McArthurGlen major Greek and foreign commercial brands will market their products with significant discounts.
 
As recently mentioned by the sales manager of the project Mr G. Skandaras at a conference on real estate market, the success behind the project seems to be the discount international "villages" that are benefited from the economic crisis.
 
According to a survey of the international real estate firm Colliers International, in Poland the discount "villages" during the crisis increased by 20% in sales compared with a year ago.

At European level, as recorded in reports, the discount "villages" are the No. 1 destination for low-income, which is driving the investments planned by the British McArthurGlenĘs and the Spanish property development company Neinver. Indeed, despite the recession, the traffic in the outlet centers is either stable or even, as happened in many countries, has increased.
 
The "village" of McArthurGlen is estimated to employ around 1,000 employees. It consists of 125 stores (from 50 to 430s.m) will have entertainment centers (such as restaurants, cafeterias, etc.), expected to have annual revenues of 100 million Euros and will consist of 2,000 parking spaces.

Furthermore, as Mr Claude Hargreave, the development manager of McArthurGlen, stated in 2006 to foreign agencies, the main advantage of the center will be the target group of the four million Athenians, while the location is significant because of its proximity to the Attica Road.

Next to the discount "village" the major real estate of  the association Ellaktor, Reds manufactures a mall, whose first phase has been completed, while the biggest part is prepaid, including the supermarket chain Carrefour Marinopoulos, the toy company Jumbo,  as well as electrical stores - electronics.

Source: www.capital.gr


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