Sibiu’s first mall to open in 2018 following EUR 70 mln investment

Newsroom 03/08/2016 | 14:28

Sibiu’s first mall, Festival Shopping Center, will open in 2018, following an EUR 70 million investment. The mall will be built on the site of the former Simerom factory by Primavera Development.

The project got the green light in June after it obtained the planning permit and is expected to open its doors in the second half of 2018. “By means of obtaining the planning permit, we made a new, important step towards the development of the Festival Shopping Center,” Daniel Tanasoiu, Primavera Development representative said in a press statement. The design of the mall was made by architectural, masterplanning and design services company Champan Taylor. Primavera Development was founded in 2006 and was involved in the development of real estate projects S-Park and the Danone headquarters, in Bucharest. Real estate consulting company DTZ Echinox was named exclusive consultant for space leasing.

Festival Shopping Center is projected to be the first mall in the city of Sibiu. The mall will offer a net rentable area of approx. 42.000 square meters and will feature a hypermarket and 160 commercial units, including a large number of fashion stores and numerous spaces dedicated to leisure activities.

Although Sibiu is the third city in the region in terms of purchasing power (after Timisoara and Cluj), it has not benefitted from a significant delivery of modern commercial spaces in the past 10 years. The city is attracting an impressive number of tourists every year (320,000 in 2015) and is part of a region where international companies such as Continental, Siemens, Takata, Daimler, Wienerberger or Faurecia have chosen to invest in. In this context, the development of a state-of-the-art shopping center in the city center represents a natural step in the evolution of the local real estate market,” Oana Iliescu, Managing Director DTZ Echinox, said in a press release.

Georgeta Gheorghe

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