Seven mall openings slated for this year
After three years of inactivity on the large commercial real estate segment and five malls suffering construction and delivery delays, developers now seem to be upping the tempo and have announced seven new mall projects for this year
October 2011 - From the Print Edition
The overall sum to be invested in these projects is estimated at around EUR 500 million and the surface area 300,000 sqm. Cities where developers have announced openings are Arad, Oradea, Craiova, Constanta, Botosani and Bucharest. The capital is slated to have a new mall in the Chitila area, where investments in the EUR 350 million Colloseum retail park project are ongoing. The project is owned by Nova Imobiliare, a company controlled by Greek businessman Panico Panayi.
Elsewhere, the Electroputere platform in Craiova, the city’s first mall, will be launched by yearend, according to the developer. The EUR 100 million facility is being developed by Belgian firm K&S Developments. On completion, it will deliver 71,000 sqm, hosting retailers such as Auchan, Decathlon, Inditex, H&M, C&A, New Yorker, Elvila and Altex. Also, Arad and Oradea have Galleria, developed by GTC, and Oradea Shopping City, developed by Gabriel Popoviciu, as new mall openings scheduled for this year. Galleria, which is set to open this month, will host retail brands such as Cora, Flanco, Inditex, Mango, Pure Fitness and Cinema City.
Also this month, Maritimo mall in Constanta, developed by the Austrian group Immofinanz, is scheduled for opening, delivering 50,000 sqm and names such as Auchan, Zara, H&M, C&A, New Yorker and Peek & Cloppenburg. Later in November, Botosani will see the opening of European Retail Park, comprising a 9,500-sqm Carrefour unit and commercial gallery of 5,500 sqm, hosting Domo, New Yorker, Leonardo and Orsay.