04. September 2009     Print Print 

The largest shopping center in Europe is to open on November 18th in Moscow

The Patero Development company announces that the construction of the Golden Babylon Rostokino shopping center, the largest one within the city on the European territory, meets the previously mentioned time terms, and is to open on November 18th, 2009 as planned before.

Anchor tenants of the shopping center include leading retail operators such as O’Key hypermarket, Media Market household electronics hypermarket, Castorama DIY hypermarket, Luxor cinema multiplex and Stockmann department store.

Lease agreements have also been signed with such largest international and Russian brands as H&M department store, Inditex brands (Zara, Zara Home, Bershka, Pull and Bear, Massimo Dutti, Stradivarius, Oysho), Maratex brands (ESPRIT, River Island, Orsay, Bodique, Peacocks), Gamilko brands (GUESS, Chevignon, Naf Naf, Levi’s), BGN, Lacoste, Baldinini, Cacharel, Karen Millen, Promod, Lindex, Seppala, Bestseller, Ipekyol, Eurodom, New Yorker, Snow Queen, L’etoile, Savile Row, Lady & Gentleman and many others. Most anchor tenants are already at the fitting-out stage.

According to Colliers International, the exclusive marketing and leasing consultant, lease agreements are signed for more than 75 % of the total area, and lease agreements for another 15% are at the final signing stage.

The two-storey shopping and entertainment center with GBA of 241,000 sqm and retail gallery of 450 stores is located in the north-east part of the city which is the most populated area of the capital. One of the strongest competitive advantages of this project is a broad entertainment zone. There are various options for leisure time: a 14-room cinema complex and a big entertainment center for children and adults. Besides, the shopping center will include cafes and restaurants with diverse cuisines. Parking lot will include 6,500 parking spaces.

The Immoeast Austrian fund is a contractual partner and an investment partner of the project. The Golden Babylon Rostokino is financed by Sberbank that has opened a credit line of 175 million dollars for 4.5 years.

Andrey Lyubimov, 1st Deptuy General Director, Patero Development company: “the Golden Babylon Rostokino shopping center is a landmark project for our company. We aimed to realize such a large-scale project for a long time and now are happy that the Golden Babylon shopping center is to open its doors for customers on November 18th. According to our estimations and estimations by experts this project will be successful which is proved by interest from international and Russian retail operators that will be represented in the project. We hope that the citizens of the capital will come to appreciate our efforts”.