What: Central Group has acquired the KaDeWe property in Berlin from Signa.

Why it is important: This acquisition marks a significant step for Thailand's Central Group in their strategic expansion into the European luxury retail market, especially following Signa's insolvency.

Thailand's Central Group has successfully purchased the renowned KaDeWe property in Berlin from the insolvent Austrian firm Signa, signaling a strategic push into European luxury retail. The acquisition, reported to be worth around USD 1.07 billion, is part of Central's broader plan to acquire the entire KaDeWe Group, which also includes prominent properties in Hamburg and Munich. Central already owns a majority stake in the group. This move is seen as an attempt to revitalize and financially stabilize the renowned retail group amidst Europe's ongoing real estate crisis. This acquisition not only expands Central's portfolio but also strengthens its foothold in the European luxury market, underscoring the importance of international investment in sustaining commercial real estate within key global cities.

Thailand’s Central Group acquires German luxury retail property KaDeWe