Baltic RED goes ahead with EUR 45 million expansion of MEGA shopping and leisure centre
One of the largest commercial real estate development and management companies in the Baltic States, Baltic RED, starts to develop the expansion project of MEGA shopping and leisure centre in Kaunas, Lithuania. The first construction works are set to take place in spring, 2015. After expansion, MEGA will become the largest Shopping Centre in Middle Lithuania, with GBA of over 102, 000 square metres. The company plans to finish the expansion project in the year 2016.
Opened in 2005 in Kaunas, at the very heart of Lithuania, the regional shopping and leisure centre MEGA is located adjacent the country’s major transit routes: the crossing of the ‘Via Baltica’ and the Vilnius-Klaipeda highways. 2.2 million visitors can easily reach the shopping centre within an hour’s drive. Up to 60,000 cars pass the site daily, carrying more than 50 million passengers a year.
“Mega” currently extends across 72,000 m2, where visitors can find 130 stores selling everything from fashion goods to building materials. The shopping centre is anchored by “Senukai” – DIY market leader in the Baltics, and “Rimi Hypermarket”. The centre’s multiplex cinema, bowling and billiards club, children’s area, restaurants and cafes can prolong their stay for hours.
“Right now we have finished the architecture and building planning concept of expansion project, and we have signed a lease agreement with one of the biggest multinational operator of apparel retail chains „Hennes & Mauritz“ („H&M“). We have also renewed negotiations regarding lease with other potential operators of international brands and services, some of which will be entering into the Lithuanian market for the first time” says Rasa Vyšniauskienė, marketing director at “Baltic RED”.
During the expansion, a new shopping alley will be formed in “Mega”, which will allow the centre’s visitors to move in a circle. There will be around 60 new national and international retailors in the 30,000 sq. metre annex (GLA 24,000 sq. m), including a 450 sq. metre outdoor terrace next to the new food court. According to plan, the expanded “Mega” will accommodate the biggest sport and health centre in the Baltic States (more than 9000 square metres).
The expansion project will also include a new, modern, shopping centre façade, as well as a multi-storey car parking. Beside the shopping and leisure centre there will be green zones, including parks with children’s playgrounds, an amphitheatre and outdoor shopping space.
The architectural, interior and lighting concepts for the “Mega” shopping and leisure centre expansion project were prepared by well-known and esteemed Lithuanian architect, Rolandas Palekas. “When creating architectural solutions we focused on functionality, identity and integrity of the shopping center. After the development “Mega” will acquire a completely new solid face, which was unanimously approved by the expert commission of the city architects” says R. Palekas.
Following the extension, the total area of “Mega” will have expanded by more than 40 percent – up to 102,000 square metres, and the number of tenants will have grown to 190. With its current primary point of distinction – decorative 10 meters height marine aquarium, the tallest one in the Baltic States, with 30 species of exotic fish and 6 sharks, after expansion “Mega” to become the perfect place to shop, socialize, be entertained and enjoy a leisure time.
Commercial real estate investment company “Baltic Shopping Centers“ will invest 45 million Euros into the shopping and leisure centre “Mega” expansion project.