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Mulliez: from Auchan to real estate with Ceetrus

09 December, Corriere della Sera

Following the acquisition by Conad of the Auchan supermarkets, the French group of the Mulliez family launched Ceetrus. The new brand will specialise in real estate and will be present in Italy under the guidance of the CEO Marco Balducci. The objective is to invest over 500 million euro in Lombardy and Emilia by 2022.

The first step has been Merlata Mall in Cascina Merlata, where Ceetrus will invest 330 million euro. Merlata Mall will develop over 70 thousand Sq m in the new residential district north-west of Milan. The project for the new shopping centre will focus on urban renewal, offering food services and entertainment, but Ceetrus is also looking at student residences and co-working spaces.

Source: Corriere della Sera

Translator: Cristina Ambrosi