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ACQUISITION OF MAMMUT SHOPPING CENTRE IN BUDAPEST, HUNGARY

Category: Investment Deal of the Year, CEE

Mammut is one of the largest and most successful shopping and entertainment destinations in Budapest. It is prominently located at Kalman Square, the busiest interchange hub in the Buda side of the city, and benefits from a strong annual footfall of 15.6 million people. Kalman square is the busiest transport hub in Buda, has a daily traffic of more than 23,000 vehicles. The public transport junction (metro, tram, bus) delivers more than 460,000 passengers every day. The Shopping Centre offers 61,300 m2 of total gross lettable area (“GLA”) in two buildings connected via a double-level pedestrian bridge.
With a GLA of 56,400 m2 (weighted for control), the Project is 89% let, including key anchors such as Cinema Pink, Hervis, H&M, Interspar, Media Markt and Reserved, as well as a New Yorker which is opening in November 2018.
Made up of 300 shops, Mammut is divided into Mammut 1 and Mammut Il. The two malls are connected by one glass hallway on the second floor. There is a food court, restaurants, the cinema, bowling and lots of shopping. Its stylish and huge, servicing the higher end of Buda's inhabitants.
The acquisition entities together own 100% of Mammut 2 and 81% of Mammut 1, respectively. The Mammut 1 shopping center was completed on 28 August 1998 and Mammut 2 was issued on 28 September 2001.

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