Cherrywood Dublin, The Mall of the Month
A strong player in the business office market keeps expanding into retail. Developed by the family-owned U.S. investor Hines, the Cherrywood project in Dublin (Ireland) is one of Europe’s first digital native shopping centers and the most important property development in Ireland. The site is near Dun Loaghaire with a catchment area of 1.1 million people living 30 minutes away by car, Cherrywood covers 350,000 sq.m GLA (including 67,000 sq.m of retail and leisure, 180,000 sq.m of offices and 1,600 apartements). This represents an investment of US$1 billion. The first phase of the mall should be inaugurated by the end of 2022. “It is one of the first shopping sites that is designed and planned following the structural and radical changes that hit the retail industry in recent years,” said Derek Rossel, Development Director at Hines. “We demonstrate that we are not just collecting rents. We understand our customers and the continually changing retail market”.