S IMMO AG concludes first remodeling stage of Sun Plaza shopping center

Austrian real estate investment company S IMMO AG has finished the first part of the remodeling process for Sun Plaza shopping centre in Bucharest.

The newly reconfigured area will open to the public starting March 23 and will host seven new shops with a leased area of 7,800 square meters. The shopping center also got redesigned access from the subway and the underground parking.

The four new tenants are Altex, Terranova, O Bag and Autograf. Anchor tenants such as H&M, C&A and Bebetei have relocated their stores and now enjoy improved areas.

“With the completion of the first stage, we are just at the beginning of a transformation that will bring Sun Plaza closer to its customers’ needs. The construction works will continue at fast pace in the next few months, so more changes are still to come,” stated Friedrich Wachernig, member of S IMMO AG’s Management Board.

The upgrading process of Sun Plaza started in the first quarter of 2016 and is expected to be completed in the first quarter of 2018. The redesigning works will add to the scheme 11,000 sqm of retail and leisure space for up to 40 new stores. Apart from the 11,000 sqm, other 9,000 sqm from the existing retail units will be redesigned during the remodeling process.

The reconfiguration of Sun Plaza is conceived by architects and engineers from ATP Vienna, one of the biggest integrated design companies, based on the latest state-of-the-art criteria. The local contractor appointed for the construction works is Bog’Art, the biggest Romanian construction company, and the project coordination is ensured by Optim Project Management.

According to the developer, Sun Plaza is now in its third year with 100 percent occupancy and 90 percent of the additional space to be opened in 2018 is already pre-let.