Opened 11 years ago, Arena Mall shopping center in Bacau will enter into a comprehensive extension and modernization process that will result in a 60 percent increase of its leaseable area and in the construction of a multi-storey car park.
Arena Mall acquired a land of 13,448 sqm in the vicinity of the existing parking, with an investment of over EUR 1 million. Expansion works are scheduled to begin in September 2019, with completion scheduled for November 30, 2020.
”As a result of the latest changes in consumer behavior, Arena Mall in Bacau will expand its commercial area, offering more entertainment options, a pedestrian area, green spaces, terraces, indoor and outdoor playgrounds as well as a hypermarket. Thus, Arena will transform itself from a shopping center into an urban destination where you can go shopping, have fun and relax with your family or friends, ”said Ovidiu Budeanu, developer and shareholder Arena Mall Bacau.
The Arena Mall extension consists of an investment of approximately EUR 20 million, as the new building will include a hypermarket, new shopping areas, a roof-top area and a stage where events will take place (catwalk, theater, stand up comedy, concerts, DJ party and more), a children’s park, two restaurants and a sky bar.
Leasable area will increase to 42,000 sqm
The total leaseable area will be of around 42,000 sqm, and the multi-storey car park lot will have a capacity of more than 495 places, with the total number of parking places reaching 1,300.
The conceptual aspect of the extension is conducted by an architectural firm in London that will provide an architectural plan that meets the most refined requirements, offering an entirely new concept to Arena Mall customers.
The Cushman & Wakefield Echinox real estate consultancy firm has been designated as a strategic consultant for defining the concept and leasing out the space resulting from the extension.
”In the 11 years of operation Arena Mall Bacau has become a reference for the shopping center market in the Moldova region. With this new investment, Arena will become a reference in the entertainment sector as well, aligning itself with the global shopping center trends. We are convinced that by extending the tenants’ mix and by diversifying the time spending options, we will be able to reinforce the project’s position for the next 10 years,” explain Mihaela Petruescu, Head of Property Management, Cushman & Wakefield Echinox.
Arena Mall is the first mall in Bacau opened in December 2007 in the most populous residential area of the city, following a total investment of over EUR 40 million. The shopping center has a total leasable area of 26,000 square meters and has over 100 fashion, accessories, footwear, services, fast food and restaurants, and 800 outdoor parking places.