Estonia, Markets and Companies, Real Estate

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 13:53

Capfield: Estonia's retail business to concentrate in couple of big malls

BC, Tallinn, 20.10.2017.Print version
The Estonian retail market is increasingly specializing and most of the retail activity will concentrate in a couple of big shopping centers in the future, Ruben Gornischeff, board member of the real estate developer Capfield OU, said at the opening of Capfield's Nautica shopping center in Tallinn on October 19th, cites LETA/BNS.

"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.






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