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Munich’s second largest mall on schedule for completion |
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(March 1, 2002) Work on the Euro 335 million Riem Arcades mall is progressing well. The excavation of the site, located in Munich’s MS Riem district, has been completed. The mall, to be the second largest in Munich, is on scheduled to be completed in autumn 2003. Located on the site formerly occupied by Munich’s airport, the mall will provide 119,000 square meters of floor space. This will be taken up by 160 stores (occupying a total of 30,000 square meters), leisure-time facilities (8,000 square meters), a community center, a multiplex cinema (with a total of 2,900 seats), restaurants, cafés, a discotheque, a hotel (with some 250 rooms), apartments, offices (occupying 20,000 square meters) and 2,700 parking spaces. This mall will have a large-sized catchment area. No less than 665,000 people live on Munich’s east side. Their annual expenditures for consumer goods come to Euro 4.5 billion. Riem Arcades is being realized by the Hamburg-based DIFA, one of Germany’s leading institutional investors in real estate, and by mfi. Based in Essen, the company is a specialist in the development and management of malls, industrial parks and other large-sized complexes. For further information, please contact |
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