Caelum Development starts construction works at ParkLake Plaza in Bucharest

Newsroom 26/10/2011 | 09:41

Irish developer Caelum Development announced it started the construction works on the ParkLake Plaza project in the Titan area of Bucharest. The developer has appointed Apolodor SRL and Edrasis – C. Psallidas SA to perform the excavation and piling works. Caelum is to appoint a general contractor who will start on site during the currency of the excavation and piling works.

The construction phase of the project is expected to last two and half years. It comprises of a gross leasable area of 67,000 sqm hosting 200 retail units. ParkLake Plaza will create more than 3,000 jobs during peak construction and a further 2,500 jobs in the centre after opening.

ParkLake Plaza will accommodate leisure facilities such as kids play areas, a Cinema City with 16 screens, a Pure Fitness Center, a large number of outdoor tennis courts, besides a Cora hypermarket and other international and local retailers.

Caelum Development currently has two retail schemes under development delivering over 100,000 sqm of GLA over the next three years. Caelum operates in East-Central Europe, having its headquarter in Warsaw, Poland. The company’s portfolio includes a total of 19 retail schemes located all over Poland. ParkLake Plaza is the company’s first project in Romania.