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BGK loan for Karuzela

Eurobuild CEE 11 April 2018
BGK loan for Karuzela
Karuzela in Biała Podlaska
POLAND Financing has been secured for the Karuzela shopping centre development in Biała Podlaska due to an app. PLN 70 mln from Bank Gospodarstwa Krajowego.

“The bank’s assessment of the city’s potential is highly favourable and so it has decided to finance our project,” claims Grzegorz Pękalski of Karuzela Holding, the developer of the project. “The bank financing was one of the final stages required before the launch of construction. At the moment we are close to completing the tender for the selection of the general contractor,” he adds.

Construction work is set to start this quarter. The 14,000 sqm Karuzela shopping gallery and a 7,000 sqm stand-alone Agata Meble store will be built in the first stage. A retail area of 10,000 sqm is to be added in the second stage. The project is already more than 70 pct leased, to such tenants as: Intermarché, Reserved, CCC, Martes Sport, New Yorker, House, Świat Książki, Cropp, Home & You and Rossmann. Karuzela Holding has four operating centres in its portfolio: in Turek, Lubliniec, Wodzisław Śląski and Września, totalling 32,000 sqm gla. Extension work is to be carried out on the Karuzela centre in Lubliniec this year and on the centre in Wodzisław Śląski next year. In addition, the company is planning new projects in Kołobrzeg, Świebodzin, Wągrowiec and Tarnobrzeg.

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