Zacaria Group to open new retail park next year following 11 million Euro investment in Cisnadie

Zacaria Group, the largest developer of logistics spaces in Sibiu, will open a retail park in Cisnădie, Sibiu, next year following an investment of more than 11 million Euro. Zacaria Retail Park Cisnadie will occupy a leasable area of 9,000 square meters and will attract tenants through an exclusive leasing partnership with CBRE Romania, which has already started the process of leasing commercial spaces.

Located in the central area of Cisnădie, the new retail park will benefit from the conversion of a former carpet factory site, on a total area of 11,500 square meters that includes the rentable area in the park and a supermarket anchor. Zacaria Retail Park Cisnădie will accommodate fashion and shoes mass market, kids’ toys and fashion, home and deco, pet food and accessories, and banking services retailers. There will be a food court available, and spaces for events dedicated to the community. 358 parking spaces will facilitate visitors’ shopping experience.

Scheduled to be opened in the second quarter of 2023, the retail park developed by Zacaria will be a modern construction that will meet the ESG requirements. Zacaria Retail Park Cisnădie is the second retail park and the 15th real estate project developed by the real estate company in Romania. The company already broke ground on the biggest retail investment to date in Cisnădie and demolition and reconversion works are in full swing.

Zacaria chose Cisnădie for the new project mainly because the town has been booming in the last two years, attracting more residential and leisure investments, but also new inhabitants leaving Sibiu. According to the Sibiu PMUD (Sustainable Urban Mobility Programme) currently under public debate, Cisnădie has registered a significant increase of 30% in the last eight years, representing the population that has chosen to relocate to this town in the immediate vicinity of Sibiu. At the same time, the number of the resident population in Sibiu has been decreasing since 2016, by about 0.3% each year, according to the National Institute of Statistics 2021. The city’s population is steadily decreasing, but only a small part of those who migrate to other localities do so by changing their residence. This causes the city of Sibiu to expand (urban sprawl) although the number of resident population decreases.

With a registered population of over 24,000 inhabitants as well as another 10,000 to 15,000 residents attracted from Sibiu, Cisnădie is becoming a new leisure destination thanks to the latest tourist facilities, highway connection and a dynamic community of expats, attracting young people from Sibiu to spend their free time in a natural environment or even to relocate here.