Immochan, the real estate subsidiary of Grupo Auchan, intends to invest EUR 50 mln in Alegro Alfragide shopping centre. The project consists of renovating the Jumbo supermarket, opened in 1988. Completion is due for the end of 2007. The project covers an area of 109,000 m[sup]2[/sup] and includes 1,700 parking spaces.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
