The Eurofund Group, specialising in investment, development, and real estate management, has presented an analysis of the transformation of the Rhein-Ruhr Zentrum (RRZ) in Mülheim an der Ruhr. A socio-economic report prepared in collaboration with EY highlights the long-term economic, social, and environmental impacts of the project. Following its complete refurbishment and commissioning, the modernised RRZ is expected to generate an annual gross value added of 480 million Euros for the German economy.
The study also forecasts the support of over 7,900 jobs in the wider economy. Annual tax revenues directly resulting from the centre's operation are estimated at 204 million Euros. Furthermore, the modernisation will improve accessibility throughout the complex and enhance the quality of experience in the communal areas. This aims to strengthen the RRZ's function as a social meeting place and an attractive destination in the Ruhr region.
The project includes measures to optimise the centre's environmental footprint. Investments in energy efficiency and sustainable infrastructure support the goal of climate neutrality and aim to prepare the site for future requirements. The report also points to a multiplier effect for the regional economy: every Euro invested or spent by the RRZ or its visitors is expected to create an added value of 3.28 Euros once the redevelopment is complete. Regarding employment, it is assumed that each direct job at the centre will generate 2.67 additional jobs in the wider economy.
Olaf Ley, CEO Retail Germany at Eurofund, noted that the modernisation of the Rhein-Ruhr Zentrum goes beyond renewing a retail location, creating a more accessible, comfortable, and sustainable place. By upgrading communal areas and implementing measures to promote climate neutrality, investment is being made in the long-term future of the centre and the entire region. In the Mülheim an der Ruhr economic area alone, the operational phase of the RRZ is expected to generate an annual gross value added of 346 million Euros and secure over 6,200 local jobs.
Opened in 1973, the Rhein-Ruhr Zentrum is one of Germany's most renowned shopping destinations, attracting more than four million visitors annually. As part of a comprehensive repositioning and modernisation programme by the Eurofund Group and Signal Capital, the centre is being developed into a 'Shopping Resort' that integrates shopping, gastronomy, leisure, and entertainment. The redevelopment aims for a significant improvement in visitor comfort, accessibility, and sustainability standards to solidify the RRZ's role as a destination and social hub for the Ruhr region.
The results for the Rhein-Ruhr Zentrum are part of the Eurofund Group's broader contribution to economic development and community strengthening in Europe. An EY analysis of the group's European portfolio shows that Eurofund supports approximately 26,000 jobs and generates an annual gross value added of 1.188 billion Euros. The study also highlights the company's multiplier effect: each Euro generated by Eurofund is expected to create an additional 5.6 Euros of economic added value, while each direct job supports an average of five further jobs in the wider economy.
Ion Saralegui, CEO of the Eurofund Group, stated that the company makes a tangible contribution to the economic and social development of communities. This commitment goes beyond creating retail spaces to include job creation, strengthening local economies, and fostering the economic substance of regions. The EY report confirms that every investment generates a multiplier effect that positively impacts families and businesses, underpinning the strategy for sustainable growth.
