Estonia, Markets and Companies, Real Estate
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Friday, 29.03.2024, 13:53
Capfield: Estonia's retail business to concentrate in couple of big malls
"Retail trade will gather in one or two major shopping centers in the
future, the position of these [centers] apparently will strengthen further over
time. The other centers will inevitably change, they will specialize maybe.
Such as become separate fashion malls and other kinds of malls,"
Gornischeff told BNS.
In the next six months, Capfield is planning to embark on an enlargement of
the Lasnamae Prisma mall in the
eastern Tallinn suburb of Lasnamae to offer customers a more comfortable
shopping environment and create additional possibilities for leisure
activities.
Capfield on Thursday opened the Nautica shopping center in the Tallinn port
area after an expansion and overhaul costing more than 11 million euros. As a
result of the overhaul, the size of the former Norde Centrum mall almost
doubled.
Capfield is an owner and developer of shopping centers. Its portfolio is
made up of six shopping malls in Estonia with a total leasable area of
80,000 square meters and of land plots slated for development.