Dutch developer Foruminvest has announced it is to start the development of a new retail park in the Puglia region of Southern Italy.
The new project, named Monopolis Lifestyle Center and located in Monopoli, will comprise more than 43,000 m2 of gross lettable area including a supermarket of 4,500 m2, more than fifteen mid sized units and various bars and restaurants.
In total, the Lifestyle Center will have about 60 stores and around 2,000 parking spaces. The opening of the retail park is planned for the first quarter of 2019.
The company has already been active in the Puglia region with the development of Gran Shopping Mongolfiera, which opened to the public in 2008.
The scheme, with a lettable area of 35,000 m2 and 130 stores, was sold for a price of around €135 mln. A 50% share in the centre was sold to a private investor in 2013, while the other 50% was acquired by Orion Income Return Partners, a pan-European core fund sponsored by Orion Capital Managers in 2011.
