On June 1st 2017, Master Management Group took over the management of seven shopping centers located throughout Poland. This is part of the developer’s, investor’s and manager’s long-term strategy, which after the sale of Galeria Młociny for EUR 104.5 million, plans to tap into the potential of commercial markets primarily in smaller cities.
The centers took over by Master Management Group are located in Poznań, Szczecin, Lubin, Kutno, Ciechanów, Piekary Śląskie and Józefosław. The company also manages Brama Mazur in Ełk and Galeria Niwa in Oświęcim, which together with the new shopping centers account for a total of about 100,000 sq. m of retail space. In addition, Master Management Group is also working on four investment projects – three shopping centers in Kołobrzeg, Legionowo and Zawiercie, as well as a mixed use office complex Hi Piotrkowska 155 in Łódź, with Hampton by Hilton hotel and retail space.
"Master Management Group is consistently pursuing a long-term strategy of adding value and active management of commercial objects, mainly outside of the largest Polish agglomerations. The contract to manage a shopping center portfolio of more than 60,000 sq. m is another success following the sale of Galeria Młociny in March. These facilities have tremendous potential and we see many opportunities for their development – from non-standard marketing activities to consumer activations that build engagement and lead to increased footfall, and therefore higher profitability" – said Paul Kusmierz, CEO of MMG.
According to Paul Kusmierz, it is also worth investing in new commercial projects in cities of 50 to 100 thousand inhabitants. The spending power of consumers across Poland is growing, and with it an appetite for shopping and spending time outside the home.
“Well located and managed shopping centers with an interesting tenant mix, a wide range of leisure and entertainment facilities, where a variety of events takes place, are a great investment. Tenants are also aware of this, and therefore, want to be present not only in the largest agglomerations” – added Paul Kusmierz.