OTP Bank grants 9 million Euro financing to real estate developer Oasis for the construction of a retail park

OTP Bank provides approximately 9 million Euro in financing to real estate developer Oasis Retail Development & Consulting, for the construction of the Prima Shops Sibiu retail park.

The first stage of development for the retail park built by Oasis Group in the northern part of Sibiu will have a rentable commercial space of 9,000 sqm, distributed in 11 retail units, and the financing granted by OTP Bank represents 75 percent of the total investment. The retail space delivery towards the future tenants will take place in August 2021, and the opening for the public is sheduled for October 2021.

“We are glad that we can be partners in a considerable investment, with a functional business and winning retail model. We currently carry out financing in different sectors of activity, from production, to agribusiness and entrepreneurial businesses, but as a volume of activity, local retail is one of the winning sectors of the pandemic. It is a developing field, and the concept of commercial gallery that Oasis Group has under construction in Sibiu has proven its resilience during the restrictions through a high attractiveness for consumers,” said Dragoș Mirică, Deputy CEO and Head of Corporate Banking Division, OTP Bank România.

Oasis Group, one of the most active local companies in the retail property development and management sector, has under development, in the northern commercial area of Sibiu, near the motorway exit, a shopping concept that will anchor retailers Hornbach, Kaufland, a household products and toy store retailer, and two furniture stores, which will be completed by the end of 2022.

In the next development phase several retail stores will be built, which will complete the mix of existing tenants, as well as service spaces and several restaurants. Unpon completion, the entire Prima Shopping Center Sibiu project will have a total area of 60,000 square meters and will be one of the largest retail park projects in the west of the country.