MAB Development sells Haarlem Raaks Shopping Area to Generali

MAB Development and Generali Real Estate Investments have signed a sales agreement for the Raaks project in the centre of Haarlem. The agreement involves approximately 12,500 m2 of shops, bars and restaurants and a Pathé cinema complex with six underground movie theatres. The shops will be opened to the public in mid April.

In addition to retail outlets, catering facilities and a cinema complex, the Raaks project includes 192 apartments, the city’s largest public parking garage with over 1,000 spaces, and new council offices of around 10,000 m². “Haarlem Raaks is a unique expansion of the Haarlem city centre,” comments Cees van Boven, Director of MAB Development Nederland BV. “Its combination of functions and appropriate architecture ensures that the new Raaks area is in harmony with the existing Haarlem structure.”

The majority of the shopping area acquired by Generali as part of the Raaks project has already been leased. In addition to Pathé, other tenants include an Albert Heijn supermarket, Block Electrostore, Bruna, a Dirx drugstore and Duo Sport. Various cafés and restaurants will be opening around the Hortusplein, the central square of the Raaks area. As a result, the Raaks neighbourhood will be a prime new destination for living, working, shopping and leisure activities in the centre of Haarlem. The shopping area will be officially opened by alderman Cassee and Cees van Boven, Director of MAB Development, on 25 May.

The purchase of Raaks is part of Generali’s strategy of selective expansion and rejuvenation of the commercial portfolio through the acquisition of high-quality investments with a stable cash flow. Prime Pitch Asset Management and DLA Piper acted as Generali’s consultant and legal advisor during the transaction. MAB Development has been advised by RechtStaete.

MAB Development
MAB Development is part of the Rabo Real Estate Group and has branches in the Netherlands, Germany and France. It focuses on the development of multifunctional projects, working with private and public partners to achieve integrated solutions for city-centre locations that combine working, living, shopping and parking facilities. MAB’s dedicated knowledge of the market and rich experience are key assets.

Generali Real Estate Investments
Generali Real Estate Investments, part of the Generali insurance group, has a diversified real estate portfolio in the Netherlands and Belgium. The company invests in property with highly attractive architecture that is focused on people and their working and living environment. Generali Real Estate Investments invests funds from the pension and income insurance policies of people insured with the Generali insurance group in the Netherlands and Generali Belgium.