ECE Projektmanagement and the Real Estate Finance Business Division of Landesbank Berlin AG and BerlinHyp have signed a loan contract for the construction of Galeria Kaskada in Szczecin, Poland. The total loan value amounts to €111m. The construction of Galeria Kaskada will now get underway and the project is set to deliver in the fall of 2011. The project’s total value amounts to €190m.
According to ECE, Galeria Kaskada will be the premium shopping destination in Szczecin and the region of Western Pomerania. It is located in the heart of the city center of Szczecin, with convenient access by all means of transportation. The catchment area exceeds 720,000 people and stretches out beyond the German-Polish border.
Galeria Kaskada will house 140 stores offering a top mix of fashion brands, cosmetics, accessories, multimedia, food and services. With two years before the opening, 55% of its retail space has been leased. The planned shops and fashion brands to be present in Galeria Kaskada include: Van Graaf, Intersport, C&A, Humanic, Max Mara Weekend, Camaieu, Promod, Tchibo, Coffee Heaven, Rossmann, Douglas, Sephora, L’Occitane, Apart, Yes, Adidas, Nike, Lee-Wrangler, Levi’s, Wittchen, Venezia, Ecco, and others.
Strabag Polska is the general contractor.