Colloseum sees first tenants, Leroy Merlin, Carrefour and Altex

Colloseum, the largest European mall to be developed in North-Western Bucharest by Nova Imobiliare, a company controlled by Greek businessman Panico Panayi, plans to complete its first development stage by fall of this year, following an investment of EUR 42 million

July 2011 - From the Print Edition

The stage comprises the opening of the retail park with French DIY unit Leroy Merlin, the construction of a Carrefour store of 8,000 sqm and a branch of household appliances retailer Altex. The 53,000-sqm retail park will be financed with a loan granted by Bank of Cyprus. “It took almost two years to get the construction permits for Colloseum. In 2014, I expect consumers in Romania to revive their purchasing power from the years before the crisis,” said Panayi, president of Nova Imobiliare, who has businesses in Great Britain and Greece in bingo, leisure and vineyards.
Totaling 190,000 sqm of area, Colloseum will also include a mall of 480 shops and parking space for 10,000 units. The two-floor mall will cover 137,000 sqm and contain 12 cinema screens, a food court and entertainment area with a 20-lane bowling alley. Construction should start in spring 2012 and be completed in 2013. The total investment in Colloseum, comprising the retail park and the mall, will cost over EUR 350 million.