Singapore’s sovereign wealth fund GIC has appointed the ECE to take over management and leasing of the 100,000 sq m Romaest shopping centre in Italy. CBRE Global Investors and Savills previously managed the property.
GIC is already invested in other centres managed by ECE Marketplaces, part of ECE Group, through the shopping centre funds of ECE Real Estate Partners.
With more than 210 shops, Romaest is one of the largest shopping centres in the greater Rome region and has a footfall of about 10 million visitors per year. Tenants include Adidas, Douglas, Sephora, Superdry, Primark and the Inditex brands Bershka, Pull & Bear, Stradivarius, and Zara.
GIC and ECE are planning to further develop the centre during the next few months. The Italian branch of ECE now manages a total of four shopping centers in Italy: Romaest, Adigeo in Verona, Megaló in Chieti, and La Cartiera in Pompei.