ParkLake Plaza mall, 45 percent leased out

ParkLake Plaza, to be located on Liviu Rebreanu street in Bucharest on the premises of the former Spartac sports base, close to Titan park, will include a shopping mall, office spaces and housing. Initially, the project was supposed to feature two residential towers, but the developers gave up one of the towers, in order to make room for more green areas and sports areas. The shopping mall project will cost EUR 600 million to complete. The developers are currently awaiting construction permits, and hope to finalize the project by 2011. Sonae Sierra joined Caelum Development last year, in a EUR 45 million transaction involving 50 percent of the project.
Corina Saceanu