Colosseum Center mall secured a EUR 23 million loan from Credit Europe Bank

Aurel Dragan 22/07/2019 | 12:05

Colosseum Centre, located in North-West Bucharest, has secured with Credit Europe Bank the funding required to develop the expansion of the shopping mall. JLL România has advised the developer in obtaining the funding and the loan is worth EUR 23 million, while the total investment in the shopping mall will reach EUR 30 million.

 “Our project enters now the final straight to completion. We are glad to have beside us partners such us Credit Europe Bank and JLL Romania, which allows the fulfillment of our business goals,” said Mihai Dinu, General Manager of Colosseum Mall.

“We are committed to supporting retail development and to be part of this project that will boost the retail offer in the North-West area of Bucharest, creating diverse opportunities for the residents of the area and around the vicinity. For us at Credit Europe Bank Romania, providing finance for retail developments contributes to the socio-economic wellbeing of the community and responds to the large market potential of Bucharest which continues to attract construction investments,” declared Yakup Çil, CEO of Credit Europe Bank Romania.

As a result of the current expansion, Colosseum centre will have in total 54,500 square meters GLA of retail space, becoming the largest in North-West Bucharest and second largest retail scheme in the 1st Sector.

The leasing progress is well advanced with over 80 percent of the retail units now signed or committed to tenants. These new tenants include CCC, New Yorker, Colin’s, Diverta, Noriel, DM Drogerie Markt, Happy Cinema, World Class, Gregory’s, Café Ritazza, and many others to be announced.

They will be joining the already present retailers in the centre that has been open since 2011, such as: Carrefour hypermarket, Leroy Merlin DIY, Altex, JYSK, LC Waikiki, Sport Vision, Pepco and many others. The expansion works of the shopping mall began in December 2018 and will be ready for opening in 2020.

Located in the Bucharest’s 1st district, North-West area of the capital, on Chitilei Road, Colosseum offers a unique retail concept that includes a large variety of retail stores and fashion brands as well as unique leisure facilities. Among the largest retailers of Colosseum are: Carrefour, Leroy Merlin, Altex, Jysk, LC Waikiki, Sport Vision and Pepco.

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