In the longer term, Shopper Park Plus plans to become one of the leading players by owning and operating one of the largest retail shopping park portfolios in the Central and Eastern European region. Shopper Park Plus which is targeting the BSE and plans to continue operating as a regulated real estate investment company following the successful listing of its shares, has a portfolio of 14 properties in Hungary and, through subsidiaries, 4 properties in the Czech Republic, acquired in June 2022. The total gross lettable area of more than 320,000 square metres is shared by nearly 600 retail units with an average occupancy rate of over 95
According to Kristóf Bárány, in the longer term, the strategy of Shopper Park Plus is to expand to other countries in Eastern Central Europe while further strengthening its position in the two existing markets. The ongoing efforts to streamline the operation of the facilities acquired last year shall have a positive impact on profitability: as part of the complex green strategy, the aim is to achieve 30% energy savings at portfolio level compared to the level at which the properties were acquired through the energy efficiency measures and investments made so far.
The majority shareholder of Shopper Park Plus is an investment fund managed by Adventum Investment Fund Management Zrt. which has extensive experience in the commercial real estate market. The investment funds managed by Adventum Group own a total of 700,000 square metres of office and commercial real estate, representing assets under management in excess of EUR 1 billion.
Shopper Park Plus has already started the preparatory process following the acquisition of the 2022 real estate portfolio in order to be able to list the company owning the retail shopping park portfolio in the Premium category of BSE this year through a public offering and share subscription. It also announced that, with the successful completion of the listing, Shopper Park Plus intends to meet all the requirements for listing in the BSE Premium category.
Source: press release sent via email on 29 Sep