7% footfall increase, 53 new store openings in its shopping centres and opening up business in two more continents in 2014.
16 February 2015, Budapest – More than 64 million people visited the shopping malls in 2014 managed by TriGranit Management Corporation (TGM) on 3 continents in 14 countries, which is an overall increase of 7% compared to 2013. The class A office buildings portfolio in the CEE region are still very popular among the long term tenants of the company, while the cultural and entertainment facilities in Hungary reached record visitor numbers in 2014. Bringing this knowledge further to other countries, the company opened up business in in the MENA region and China in 2014.
All the shopping centres managed by TGM had a successful year in 2014. The Westend City Center in Budapest Hungary, the first ever multifunctional complex of TriGranit celebrated its 15th anniversary in 2014 still being the number 1 shopping centre in Hungary and having more than 23 million visitors last year. Westend City Center is a real property management success story of TriGranit, as it has kept current by evolving the tenant mix and has been the best shopping centre in Hungary for over 15 years. Evolving the retail, changing the unit sizes and layout of common area, maximizing commercialisation and marketing revenues are all important factors to keep this position. This success is underlined by the fact that 25 new brands opened up and 59 lease renewals were concluded in 2014.
Bonarka Shopping Center (BCC) in Krakow, Poland welcomed more than 13 million visitors, that means a 4,4% increase in visitor numbers. Taking into consideration that the visitor numbers of all other shopping centres declined in Krakow this is an outstanding result. Furthermore, BCC launched a new service to their customers – through the new Gift Card Machine system, visitors can buy gift cards without any human input.
The other flagship shopping centre of TGM, Arena Centar (AC) in Zagreb, Croatia was visited by 8,7 million people in 2014 with a 5% footfall increase compared to 2013. 2014 was a really busy year at the centre with 25 store openings. The importance and the very high prestige of AC on the market in Croatia shows, that many international brands use it as a door to enter the Croatian market. Last year the following brands made market entries by opening new stores in Arena Centar: Napapijri, He by Mango, Sinsay, House, Cropp, Mohito, Reserved, Lego. Furthermore, Arena Centar positioned itself as a super-regional destination also because many tourists choose it as a destination to shop. In 2014 12% of the visitors were tourists.
The class A office buildings in the CEE region of TGM are still very popular among the long term tenants of the company, the favourite WestEnd City Center Offices in Budapest are the most popular offices in the well-known Váci street office area. Occupancy level has increased from 89% in 2014 Q3 to 92% in Q4 2014, which is well above the Budapest market average and proves the stability and sustainability of the project. The other large office asset managed by TGM, the Millenium Offices in Budapest signed three large new lease agreements, while Morgan Stanley increased its rental area by 2,400 sqm. Millenium Offices increased the occupancy from 73% to 100%, meaning full occupancy.
“Our great results in both our shopping centres and offices, in 2014 demonstrates our knowledge in the field of leasing, property and facility management and marketing, we opened up business in the MENA region and China last year by opening TGM Consultants own office in Dubai and won a significant assignment in Cairo. This was a further step in TGM’s expansions strategy” – said Philip Evans, CEO of TriGranit Management Corporation.