MEDCITY acquired 1,000 sqm building in the center of Timisoara from Folli Follie Group

MEDCITY, developer of healthcare buildings, acquired a prime building of over 1,000 square meters in the center of Timisoara from fashion group Folli Follie Group in a transaction brokered by Colliers. Thus, MEDCITY is making its entry into the western city, expanding its portfolio of buildings under The Medical Mall concept, exclusively dedicated to healthcare operators and related activities.

Located on Corneliu Coposu Boulevard in Timisoara, the building bought by MEDCITY will be transformed into a facility dedicated exclusively to healthcare activities, where medical operators will be able to offer their services in facilities of the highest standards.

Currently, MEDCITY owns and manages a portfolio of 10 buildings in Romania, with a total leasable area of over 17,000 square meters, of which over 97 percent is already leased by big brands in the Romanian healthcare market, such as Regina Maria, Synevo, Catena, Diaverum, Medima Health, Emerald, Mediplus and Laurus Medical members of the Medicover group, Aqua Clinic, Alpha Clinic or DigestMed.

The medical malls developed by MEDCITY in Romania have so far accounted for investments of over 27 million euro, and the company’s plans for the next two years are to expand or develop new projects, both in current and new cities, such as Cluj, Brasov, Constanta, Oradea, Sibiu.

“MEDCITY intends to change the use of the building into a medical services space, in which to attract some of the biggest names in the Romanian medical services market. We have been actively looking for a building to meet all the requirements of MEDCITY’s clients in Timisoara, also being involved in obtaining documents and clarifying all situations that arose during the due diligence process. Having a team with many connections in real estate related services in the western market, as well as a very good knowledge of the land, building and investment market in the region, helped us also in the development of FF Group Romania’s real estate assets”, says Silviu Carlan, Senior Associate at Colliers Romania.