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DIFA and mifi preview masterplan Munich, March 7, 2001 DIFA AG and mifi AG presented the revised masterplan for Riem Arcades to Munich's municipal council. The mall will be located in MS Riem, the fast-growing district located on Munich's eastern edge. |
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| The masterplan was produced by ASW (Allmann Sattler Wappner) and nps (Nietz Prasch Sigl Tchoban Voss), firms of architects based in Munich and Hamburg respectively. These firms were the winners of a nation-wide competition. Foreseen by the masterplan is a DM 650 million mall with a total usable area of 119,000 square meters. These will be occupied by some 150 shops (taking up 30,000 square) meters, offices (20,000 square meters), apartments (6,400 square meters), and sport and other recreation facilities (18,000 square meters). Also to be located in the center will be a hotel, a multiplex cinema, a community center, restaurants and cafés, a disco and garages providing 2,700 parking spaces. The groundbreaking ceremony for the center will be staged on October 30, 2001. The mall is to be ready for occupancy a scant two years later. | |
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| Riem Arcades is being developed by the Hamburg-based DIFA Deutsche Immobilien Fonds AG. The real estate arm of Germany's Raiffeisen credit unions, DIFA is one of the country's largest investors of capital raised by open real estate funds. DIFA's portfolio comprises some 160 commercial properties. These are located in Europe's major business centers. Among them: Munich, where DIFA owns seven complexes, not counting Riem Arcades. These properties are worth a total of DM 600 million. Based in Essen, mfi is one of Germany's leading managers of malls and other commercial properties. | |
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| These are located in Europe's major business centers. Among them: Munich, where DIFA owns seven complexes, not counting Riem Arcades. These properties are worth a total of DM 600 million. Based in Essen, mfi is one of Germany's leading managers of malls and other commercial properties. | |
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| Riem Arcades will be located in the heart of MS Riem: across the way from the city's fairgrounds, right next to a prime commercial area. Adjoining the mall is a subway station. It provides every-ten-minutes-service to downtown Munich, located some 7 kilometers or 20 minutes away from the district. | |
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| For further information, please contact: | |
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| DIFA Deutsche Immobilien
Fonds AG Marketing/PR Julia Hense Caffamacherreihe 8 D-20355 Hamburg Tel.: (+49-40) 349 19 101 Fax: (+49-40) 349 19 190 E-mail: julia.hense@difa.de |
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| mfi Management für
Immobilien AG Petra Richter Am Waldthausenpark 4 D-45127 Essen Tel.: (+49-201) 820 81 0 Fax: (+49-201) 820 81 11 E-mail: p.richter@mfi-online.de |
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