The Austrian home market of WM group | MID group was completed very soon with the regional business fields in the South (Slovenia) and the East (Hungary). Together with the expansion to the Central- and South-European countries also the business focus was growing.
Preferred sector of industry was the development of retail projects (shopping centres and retail parks). Further parking garages and places as well as office buildings were realized.
Today WM group | MID group is active as real estate developer in Austria, Slovenia, Croatia and Hungary. In 2017 activities ceased in Slovakia and simultaneously the Italian market was entered.
Headquarters of WM group | MID group are located in Klagenfurt. In other countries group activities are coordinated by local branches steered by the central office in Klagenfurt or via strategic partnerships.
Developments in Austria originally were the starting point for all activities of WM group | MID group but were minimized slowly due to concentration on neighbouring countries. Today activities exist only punctually with focus on parking and retail in Klagenfurt.
In the years from 2002 until 2008 a major modern office location was created in the North of Klagenfurt offering also a high number of parking facilities and adjacent retail space. This landmark project was used for years as headquarters of WM group | MID group and was sold in 2011.
In Slovenia MID group was active with a local team since 2000 mainly as retail developer (retail parks but also shopping malls). Many projects, such as Shopping Centre Qlandia Kranj or Retail Park Slovenska Bistrica, were transferred to international investors; some locations like retail park Maribor are still operated by MID group.
The Retail Park Maribor is located close to the Shopping Centre Qlandia Maribor which also was developed by MID group. Since 2015 a high number of competitive retail park stores enhance the strong offer of the shopping mall. The location therefore shows high attractiveness for all groups of customers.
The retail park offers a usable area of 8,370 sq m and 226 parkings. The project is located directly at one of the main roads in the South-East of Maribor with a catchment area of some 150,000 people. The clients are provided with a perfect range of everyday goods including food, fashion and drugs, with shopping mall and retail park complementing each other perfectly.
Due to successes in Slovenia MID group also entered the Croatian market as a real estate developer and completed several retail parks and a shopping centres within a very short time. Since 2009 several projects have been opened and disclosed successfully, in particular the “Garden Mall” in Zagreb / Dubrava. Some retail park projects e.g. in Osijek and in Valpovo remained under own operations.
The Retail Park Osijek is located in the densely built urban district of Osijek-Süd within residential buildings and public facilities. The site is accessible by several connection roads via the main road D2. The catchment area of the retail park is clearly above average as attractiveness of direct connection is increased by a food super-market.
The “STC Osijek” was opened in 2009 offering an area of 6,800 sq m and 230 parking spaces. It has the well-known (mostly German) specialist tenants for retail parks. Strong local vendors and a popular café complete the offer perfectly.
The most recent expansion of the MID group is heading South to Italy. In spring of 2017 MID group acquired the plots of the old trade fair in Trieste with its Italian subsidiary MID Immobiliare s.r.l.
The property has an area of around 19,500 sq m. The construction of a multi-storey shopping centre with a rentable area of around 23,000 sq m and about 800 parking spaces is envisaged.
The project will create an architectural landmark in an inner-city location with high repudiated tenants from the sectors of food, electronics, sports as well as other strong international and regional tenants.
The Italian activities are coordinated by a local representative.
Already in the year 1977 Hungary was the first target of MID group outside Austria in 1997, partly in cooperation with a strategic partner. Again the main business was retail with a strong focus Budapest (Kispest) and the other major cities in Hungary.
Own developments and investment properties individually purchased were sold to Babcock & Brown and Dawnay Day Carpathian respectively in 2007. At the moment developments in Pécs and Budapest (Kispest) are in the pipeline, managed by a country manager in Budapest.
The newly constructed Burger-King in Pécs was opened in June 2017 and is operated by the Hungarian General Franchiser, which also acts as a long-term tenant. The project is located very close to an Aldi supermarket, which was also set up on the initiative of MID group. The location has been extremely successful from the start and is expected to be further enhanced by other retail projects over the next few years.
In the Czech Republic MID group was not active as developer but merely as a real estate investor. The acquired small investment portfolio was anchored by Spar Group and consisted of the shopping center Eurocenter in Hradec Kralove and an Interspar Hypermarket in Znojmo. In 2007 all properties were sold to Babcock & Brown and Dawnay Day Carpathian respectively.
Currently there are no activities in the CZR.
Slovakia was the main focus of development activities from 2007 to 2017. The proven MID retail park concept was adapted to the Slovak market conditions at six locations.
The successful sale of all properties to IMMOFINANZ Group in 2017 completed the chapter Slovakia for WM group | MID group. The projects will be integrated into the STOP.SHOP portfolio of Immofinanz.
The Retail Park Rača is located in one of the top locations in the outskirts of Bratislava and was built in close cooperation with the Lidl & Schwarz Group, which operates a flagship Kaufland on the site. The retail park at Púchovská ulica 10 has asize of about 22,000 sq m and about 300 parking spaces.
More than ten international retailers are present on 8,200 sq m retail space, including JYSK, dm and KiK, as well as Tedi. The leading Hungarian children's outfitter Brendon runs his Slovak flagship store at Rača.
The project was sold to IMMOFINANZ together with all other Slovak developments in 2017.