Union Investment commits €10 million to repositioning “Le Befane” shopping centre in Rimini
Union Investment has announced an additional investment of €10 million to enhance and modernize the “Le Befane” shopping centre in Rimini, Italy, solidifying its position as a premier retail destination on the Adriatic coast.
Acquired in 2017 as part of the UniImmo: Europa open-ended real estate fund, “Le Befane” boasts 129 shops, a hypermarket, a food court, and a 12-screen cinema. The two-level shopping centre, one of the largest in the region, serves a catchment area of approximately 900,000 residents and attracts over 1.5 million tourists annually.
Carsten Freitag, Senior Asset Manager Retail International at Union Investment, highlighted the extensive upgrades undertaken over the past two years, including the revitalization of the retail landscape and the addition of 17 high-profile brands such as Lego, Starbucks, Signorvino, Rituals, and Victoria’s Secret. Anchor tenants have also been rotated, with floor plans updated to accommodate evolving space requirements, such as the expansion of Zara to 3,400 square meters.
Looking ahead, the new phase of refurbishment will focus on several key areas:
• Expanded Dining Options: The food court will be remodeled and expanded by 2026, featuring 17 restaurants and kiosks with seating for over 600 guests.
• Cinema Transformation: The 12-screen cinema will undergo a redesign, with enhanced audiovisual systems, modern lounge areas, and upgraded seating.
• Modernized Arcade: The shopping arcade will receive a contemporary look, aligning with current retail trends.
• Healthcare Facilities: A new health services area, including a dental practice, will be introduced.
• Parking Revamp: Structural upgrades to the 3,000 parking spaces are set for completion by spring 2025.
The refurbishment also underscores Union Investment’s commitment to sustainability. Recent investments in infrastructure have included state-of-the-art air conditioning and ventilation systems, new general-area lighting, and the installation of a shading system. The building management system is also being modernized to align with contemporary technical and environmental standards.
Located along main road 16 in Rimini’s southwestern municipal area, “Le Befane” is just 15 minutes by car from the historic city center. Its prime location ensures accessibility for both residents and tourists, reinforcing its role as a central hub for shopping, dining, and entertainment.
The planned upgrades aim to enhance the shopping experience, cater to evolving consumer demands, and ensure the property remains a cornerstone of the region’s retail landscape.