Real estate investor Altera has leased 480 square metre of retail space to smartphone manufacturer Xiaomi. The property, which covers several floors at Korte Lijnbaan 11 in the heart of Rotterdam, will house the company’s first ever store in the Netherlands. Xiaomi will mark this milestone with an officially opening today.
Xiaomi has risen to become the world’s number 4 in the smartphone market and number 1 in consumer Smart Home products. Already a force to be reckoned with in its homeland of China, Xiaomi’s recent growth is mainly due to its expansion into new markets such as the Netherlands, France, Spain and Italy. Xiaomi is best known for its highly competitive price-quality ratio.
Erwin Wessels, CIO of Altera, is delighted with the transaction: “Our property on Korte Lijnbaan is a strong inner city prospect and we are proud to be the first investor to welcome this innovative retailer to the Netherlands.”
In this rental transaction, Altera was advised by KroesePaternotte. Kokelenberg & Ouwehand Vastgoed Adviseurs supervised the transaction on behalf of Xiaomi.