January 2022

Novo Plaza, Czech Republic

Novo Plaza concluded its extensive repositioning plan in December 2021.

Bluehouse acquired the shopping center in 2019 with a strategy to modernize the design and improve the tenant mix. The reconstruction works were completed in Q4 2021 and included a new entrance area and façade, full change of interior galleries décor, new flooring, lighting, escalators repositioning, new modern toilets and modernization of building technologies. The improved design provides a fresh new atmosphere with an urban industrial flair.

The tenant profile and mix has been significantly improved while the center is currently nearing full occupancy. Novo Plaza is anchored by hypermarket Tesco and accommodates fashion, footwear, accessories, jewelry, health & beauty and household retailers as well as food, beverage and deli stores with brands including KFC, Burger King, H&M, New Yorker, Pepco, Sportisimo, CCC, DM, Vodafone and Raiffeisen Bank. In addition, the center houses sports and leisure facilities.

The execution of the strategic business plan proved the resiliency of the center which generated increased collection rates during the pandemic period, while the Q1 2022 footfall and turnover have surpassed the equivalent 2019 performance.