Square 7 Properties announces construction start for Giurgiu Shopping Park, the project number 26 in the company’s portfolio
Petre Barac
Posted On July 29, 2022
Square 7 Properties announces the start of construction works for a new retail park in Giurgiu, with a gross lettable area of 7,000 sqm.
“We continue the aggressive development plan with a new investment in project number 26 in the company’s portfolio,” says Clemens Petschnikar, CEO, Square 7 Properties, adding: “Given the favorable economic context of recent years, we see new opportunities in cities with population between 50,000-100,000 inhabitants, where there is a real need for modern shopping and suitable premises.”
The Giurgiu project is developed in partnership with the Belgian investment fund Mitiska REIM. The general contractor of the project is the Austrian company Strabag.
The Giurgiu retail park is centrally located on Academician Miron Nicolescu boulevard. It is anchored by Lidl, while the shopping gallery is already fully leased to brands such as: Hervis Sports & Fashion, New Yorker, Noriel, Kik, Sinsay, CCC, KFC, Superzoo and others. The opening is planned for the first quarter of 2023.
Currently, Square 7 Properties is in the process of completing the expansion of the retail park in Slatina and in the process of authorizing two other new projects in Pitesti and Mediaș, the three developments having a total area of approximately 35,000 sqm.
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Square 7 Properties developed together with Mitiska REIM a portfolio of 26 retail parks, with a total area of 142,000 sqm.
The group has over 15 years of experience in the Romanian market, with a solid and professional team, covering a wide range of services: from development, administration, to facility and property management. The business model of retail parks has the advantages of food anchors, outdoor parking spaces and direct access to shops.
