After investing EUR 15 million in opening the Botosani Shopping Center mall in November 2011, real estate developer Belrom Real Estate says it will invest another EUR 3 million in expanding the project. The investment will go into expanding the shopping mall’s gross leasable area by 5,000 sqm and adding 500 parking spaces.
The decision to expand the shopping mall was taken because of “the area’s development potential and the success of the first phase of the project”, said company representatives. At present, Botosani Shopping Center has a gross leasable area of some 14,800 sqm which in the first year after the opening generated revenues worth EUR 1.4 million.
The shopping mall is located in Botosani, north-eastern Romania, has a catchment area of more than 100,000 people, according to company data. It features some 26 shops and has an occupancy rate of 98 percent. The main anchor is a 9,000 sqm Carrefour hypermarket. Tenants include New Yorker, Orsay Orange, Vodafone, Leonardo, Sensiblu, Mado, Domo and Beauty Mania.
Last year, the shopping mall reported 3.2 million visitors, up 25 percent y-o-y.Since August 2012, Botosani Shopping Center is managed by Carrefour Property Romania.
Simona Bazavan