Shopping Centers Today -> May 2005
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IN BRIEF

Troops out, shops in

The South Korean city of Crunchon is planning to convert a former U.S. military base, Camp Page, into a culture and entertainment complex. If the city official’s plans come to fruition, a mixed-use district comprising a regional mall, cultural and leisure venues, and apartments will replace the 7.5 million-square-foot military base, according to The Korea Times. The U.S. agreed to leave 13 military bases in five cities between 2005 and 2008. U.S. troops left Camp Page this year, three years ahead of schedule.

Mall gets juice

The owners of Moscow-based juice purveyor Wimm-Bill-Dann are planning to develop several commercial projects, including a shopping center, in Rublyovo-Uspenskoye Shosse, a cosmopolitan suburb of Moscow. David Yakobashvili and Gavril Yushvayev, who co-own the Wimm-Bill-Dann, are planning to build a 269,000-square-foot shopping center and a 236,000-square-foot business center in 2006, according to The Moscow Times. The investors already plan a $70 million downhill skiing complex in the area, plus a residential complex and fitness center.

Poland to get malls

Real estate investment group Parkridge Holdings, London, plans to use $389 million to build five regional shopping centers in Poland by early next year, according to the PAP News Wire. Parkridge specializes in developing Main Street retail, leisure districts and mixed-use properties in Britain.

Migros Turk nears mall completion

Migros Turk, Turkey’s largest food retailer, plans to open a store in Skopje, Macedonia, at the end of this month [May], through Ramstore Macedonia, one of its operating units.
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