Four more H&M locations announced for next year

Swedish fashion retailer H&M will open four more locations next year, pushing its number of announced local outlets to six.

Three more stores will be opened in Iasi, Timisoara and Cluj-Napoca in the Palas commercial center and the Iulius Malls.

Another outlet will be located in Constanta in the Maritimo Shopping Center, the former Polus Center Constanta which is owned by Austrian group Immofinanz, Mediafax newswire has reported.

Immofinanz, which resulted from the merger of Immofinanz AG and Immoeast, plans to finish construction works on the Maritimo Shopping Center in September 2011, according to data from the Austrian group.

French hypermarket chain Auchan is also expected to be a tenant in the center.

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The first outlets are expected to open in AFI Palace Cotroceni and Baneasa Shopping City in 2011.

Maritimo Shopping Center is expected to have a rentable space of 51,000 sqm. Construction works on it started in 2007 and the initial delivery deadline was set for

2009. Immofinanz has taken over the mall from Trigranit, after signing an acquisition contract for it in 2007.

Some of the projects Immoeast has finished in Romania include Polus Center Cluj-Napoca, Armonia Arad, Euromall Galati, S-Park, Iride Business Park, Bucharest Corporate Center and Victoria Park.

Developer Iulius Grup owns four malls in Suceava, Iasi, Timisoara and Cluj-Napoca, with a total surface of 346,000 sqm.

The company is currently building a 320,000-sqm real estate complex in Iasi including a mall, a commercial area, office buildings, two hotels, apartments, a spa and underground parking space.