Arena Mall (formerly known as Aréna Plaza) is the largest shopping plaza in Budapest at a size of . On November 15, 2007, Arena Plaza opened at the site of an old horse racing track.
The project was developed by Plaza Centers Group, a shopping center developer in
Central and Eastern Europe
Central and Eastern Europe is a term encompassing the countries in the Baltics, Central Europe, Eastern Europe and Southeast Europe (mostly the Balkans), usually meaning former communist states from the Eastern Bloc and Warsaw Pact in Europe. ...
(CEE). Plaza Centers Group credits itself as the first developer to bring
Western-style shopping centers to Hungary. The executive of Plaza Centers says during the opening in 2007, “Arena Plaza is one of the largest and most prestigious shopping and entertainment centres in Central and Eastern Europe, the design and ambition of which has set new standards for the region..."
The center includes the country's first
IMAX
IMAX is a proprietary system of high-resolution cameras, film formats, film projectors, and theaters known for having very large screens with a tall aspect ratio (approximately either 1.43:1 or 1.90:1) and steep stadium seating.
Graeme F ...
cinema auditorium, along with 22 other screens.
It includes many stores for shopping, dining, and entertainment. A major focal point is the large
Tesco, a
hypermarket.
Access
Arena Plaza is located approximately five minutes walking distance from
Keleti Railway Station
Budapest Keleti (Eastern) station ( hu, Keleti pályaudvar) is the main international and inter-city railway terminal in Budapest, Hungary.
The station stands where Rákóczi út splits to become Kerepesi Avenue and Thököly Avenue. Keleti p ...
.
The shopping center has approximately 2,800 underground parking spaces.
Sales
On August 7, 2007, Arena Plaza was sold to active Asset Investment Management ("aAIM"). The transaction was closed at a gross yield of 5.9%, reflecting an approximately 381 million Euro asset value. This represented 20% of the value of 2007 Hungarian real estate deals and the largest single transaction for that year. The price compares to the November 2006 IPO of €333 million.
References
{{reflist
Buildings and structures in Budapest
Shopping malls in Hungary
Tourist attractions in Budapest