Throughout its history, Atrium has completed several significant development projects across its markets. Some of the most recent examples include two assets in Poland: the 75,000 m² GLA Atrium Felicity in Lublin, our largest greenfield, and the extension of our Atrium Copernicus in Torun by 60%, bringing its total GLA to 47,400 m².
In October 2016, Atrium completed Stage 1 of the extension and redevelopment of its flagship asset Atrium Promenada. Stage 2 is currently ongoing. Overall, the project involves a major extension of 44,000 m² and a remodelling of the existing centre for over €100 million total investment costs.
Atrium has a cautious development policy whereby the development pipeline is rationalised in order to mitigate risk. The €0.3 billion development and land portfolio accounts for 10% of our total real estate portfolio, in line with our long-term target of maximum 10-15%.