Unibail seeks another mall to satisfy Berlin's shopping appetite

Berlin

UNIBAIL-RODAMCO SE plans to add a second mall in Berlin and has increased investment in the first as Europe's biggest shopping-centre owner taps one of the continent's fastest-growing retail markets.

"Berlin is the biggest and most dynamic shopping centre market in Germany," Karl Reinitzhuber, co-chief executive officer of Unibail's German unit. "The market will never be saturated, there are always opportunities to improve on the existing supply."

The owner of nine German malls valued at 4.1 billion euros (S$6.6 billion) is looking for an opportunity to acquire or build a second centre in the capital, Mr Reinitzhuber said. It's also spending more than 100 million euros renovati…