Redevco manages and develops major retail real estate portfolios in Europe.

Redevco Retail Belgium has just completed a major renovation and densification programme at its Flémalle site. Redevco has invested €7.3 million in the redevelopment project.

Redevco has sold its portfolio in Sweden, in line with its strategy of concentrating on its core markets in Europe.

On 27 March, Redevco France signed a 12-year lease with the food chain Monoprix for approx.1,200 sq. m. location at the heart of the open-air "Promenade Sainte-Catherine" commercial development. This mixed development will include 19,000 sq. m. of commercial space as well as 9,000 sq. m. of residential properties in the historic centre of Bordeaux. Completion of the project is planned for April 2015.

Redevco has sold its portfolio in Italy, in line with its strategy of concentrating on its core markets in Europe.

Redevco Retail Belgium has just completed a major two-year redevelopment project in Drogenbos. The complex, now renamed Cascade Shopping, one of Belgium’s most important peripheral retail parks, will be officially opened on Thursday 22 March. Redevco has secured some big-name tenants for the 29,000m² centre, including Carrefour Planet, Brico, Dreamland, Lunch Garden, SportsDirect.com, Luxus, PointCarré, Auto 5, Quick and Pizza Hut. The company has invested 15 million euros in the redevelopment project.

Redevco Turkey has now leased ninety per cent of units at the Magnesia Shopping Center being developed in Manisa, Turkey’s fourteenth largest city, with a total population of ca. 1.4 million. Units in the center, which will provide a total of 18,600 sq. m. of gross leasable space, have already been let to tenants such as Tesco Kipa, Fun Plus, Mango, Mavi, Deichmann, De Facto, US Polo and many other national and international brands. Cinens, a Turkish cinema operator, Teknosa, leader in Turkey’s electronics retail sector, and LC Waikiki, a top Turkish clothing brand, recently signed up. Magnesia Shopping Center is Redevco’s third investment in Turkey. The center is scheduled to open at the end of June 2012 and, like other Redevco projects, it will have a BREEAM certificate.

Redevco Netherlands has purchased a 1,300 m² retail property on Gouda’s main shopping street, Kleiweg 24-30. The property is let to Blokker and WE on long-term leases. Redevco already owns the adjacent properties at Kleiweg 32-48. This latest acquisition provides Redevco with an entire block of prime retail real estate covering a total of 7,000 m².

Israel Casanova has been appointed Country Manager for Redevco Spain and Portugal. Casanova succeeds and will report to Javier Hortelano, who was recently appointed Chief Operating Officer at Redevco.

Redevco Services Deutschland GmbH, Düsseldorf, has let some 7,300 sq. m. of the total 10,500 sq. m. retail and leisure space in its ALEA 101 development on Ber-lin’s Alexanderplatz: Of many interested parties an international retailer, shoe ven-dor AktivSchuh and restaurant chain Vapiano have already secured the three larg-est sections which make up approx. 70 % of retail space within the mixed use retail, office and residential development even before the planned construction start on 20 January 2012.

Redevco is pleased to announce the appointment of three new board members. Javier Hortelano and Eric Van Dyck both become Redevco’s Chief Operating Officers (COO) and Judith Dröge joins the board as Chief Human Resources Officer (CHRO). The appointments will take effect as of 1 January 2012.