ECE opens Árkád Szeged

ECE has braved the choppy consumer market waters by opening a shopping mall Szeged. At a time when many won’t buy anything in CEE outside Poland or Prague, developing in a secondary city in Hungary shows considerable confidence in one’s project. The €100m investment produced a 41,000 sqm shopping center with a mix of local retailers along with ECE’s standard fare of top international brand names. It’s been built on the site of a former hemp-spinning factory and retains architectural elements from the old facility. The investor is ECE and the Otto family. Development work on the project began in 2005, but construction didn’t get under way until 2010.

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