The corner of Bognergasse and Tuchlauben in Vienna's city center is currently a construction site. A former bank premises is being transformed into a new luxury goods mall, scheduled to open summer 2012. The main tenant is French designer label Louis Vuitton, which will open a flagship store spanning four floors. Dior will move in to Vuitton's current premises on Kohlmarkt in 2012. Prada's Miu Miu brand will also grace the new complex in one of the best locations in the capital. New offices and apartments will be available alongside the 15 luxury stores. The group of buildings opposite the shopping complex is being adapted for an exclusive jeweler.
The new center will extend Vienna's luxury shopping quarter, which at the moment encompasses Kärntner Strasse, Graben and Kohlmarkt. The existing pedestrian zone will be expanded around the new mall by the end of 2013. Also in 2013 a new luxury hotel is set to open its door a few blocks away: the Park Hyatt at Am Hof will boast 143 rooms.