“RED’s goal is to continue be the property market’s leading actor in Retail Parks”
The Company develops, lets, invests in and manages each individual Retail Park. It invests in its own projects and also offers co-investment through Operating Partner structures. The constant objective is to ensure long-term ownership of every development project.
RED’s Vision and goal is to be the most competent and innovative player in the Swedish Retail Parks property market. RED is determined to be the partner of choice for municipalities, property investors, property owners and, above all, for tenants.
Ronald Rico, owner and founder of RED, started the business one month before the collapse of Lehman Brothers in 2008.
Ronald was forced to put his ambition to run his own property development business on hold. In the prevailing market climate, it was just not possible to raise finance for property deals. Instead, Ronald focused on letting vacant retail premises.
During the first trading year, 2009, Ronald let and acted as an intermediary for almost 45,000 square metres of retail premises in unenclosed shopping centres.
This proved to be the start of RED’s success in Retail Parks. Since the Company began its operation in 2008, RED has leased out more than 500.000 Square metres of retail park space, from Luleå in Northen Sweden to Malmö in the South, to major actors in retail park.
In 2010, Ronald succeeded in acquiring a site with building permission in Luleå. In less than one month, Granngården and Elgiganten entered into a leasing agreement with RED.
Three years later, RED had developed almost 20,000 square metres for Elgiganten, Jula, Media Markt, Stadium and others. The entire property portfolio was successfully and profitably sold.