More investors to come for shopping malls

Commercial property experts see the recent deal between Lamda Development and Varde Partners as confirmation of estimates that shopping centers would become a target for investors from both Greece and abroad, the reson being the considerable resistance malls have shown in the face of pressure from the economic crisis.

Varde Partners, which acquired a majority stake in the Piraeus group's Trastor Real Estate Investment Company a few months ago, has agreed to spend 61.3 million euros on a 31.7 percent stake in newly formed company Lamda Malls, which owns Golden Hall in Maroussi and Mediterranean Cosmos in Thessaloniki.

This move is seen as a prelude to other similar investments in the shopping mall market, during a period when considerable new developments are also planned, hoping to make the most of the lack of supply in relation to demand by retail chains. Another...