The project covers some 124,000 sqm in total and includes a Carrefour, a Media Galaxy unit, a Bricostore, Cinema City, Staer and Promenada Mall shopping galleria. The Media Galaxy unit and part of the Promenada Mall will be opened in December this year, when the second stage of the project should be completed.
Flemish BelRom announced it would build ten such retail parks across Romania. The company has previously opened similar projects in Sibiu, Targu Mures and Braila. The first two have already been sold to institutional investors. The Carrefour unit in the retail park covers some 8,000 sqm and required a EUR 20 million cash injection. It is the 16th unit in Carrefour's Romanian chain, and the 10th outside the capital.
Earlier this year, BelRom representatives said the company was planning to go for smaller retail units in provincial cities, to build a 40-unit chain which should require EUR 800 million in investment. BelRom is also planning to get involved in the residential sector, and intends to develop a 1,500-unit residential project in northern Bucharest.