Real estate investor Master Management Group and the Municipality of Ek in northeastern Poland have signed a final agreement concerning the sale of a piece of land sized almost 1.85 hectares, on which Master Management plans to build its Brama Mazur mall.
“I am very glad that after long talks we have managed to finalize the purchase of an attractive plot in the very downtown of Ek,” Paul Kusmierz, president of Master Management Group, said in a statement.
He added that the company is planning to change the premises into a multifunctional urban complex featuring the highest-quality public space. Advanced negotiations with potential tenants have been underway for some time, Mr Kusmierz said.
The acquired site is located at the intersection of Ek’s ul. Dàbrowskiego and ul. KoÊciuszki. Master Management Group will revitalize a pre-war military warehouse that is located on the land and will make it an integral part of the planned Brama Mazur mall.
The shopping and entertainment center will deliver 16,250 sqm of space and will include a shopping gallery, a supermarket, a cinema and numerous cafes and restaurants. An underground parking lot will provide spaces for 600 cars.
Master Management Group is currently awaiting administrative permits for the Brama Mazur development. The investor hopes to be able to launch construction on the investment by the end of this year.
Established in 2006, Master Management Group now manages more than 340,000 sqm of retail space in 16 cities across Poland. The company was also the developer of the Galeria Niwa shopping center in OÊwi´cim which opened for business in 2009.
From Warsaw Business Journal
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