Bricostore sees RED for space in Armonia Satu Mare project

Carrefour has previously signed leasing contracts for three other projects by RED, in Constanta, Braila and Arad. With its investment in the new site, Bricostore has consolidated its existing 13-unit chain in Romania and is developing three new locations to be opened in H2 2009, according to the company's representatives.
Armonia Satu Mare covers 163,530 sqm and has 1,625 parking spaces. The retail park's current area will be expanded by 12,000sqm.
So far, RED, controlled by the American investment fund Warburg Pincus and Spanish Ged Group, has invested EUR 700 million in developing commercial centers and retail parks in Romania. Locally, RED development is managed by businessmen Teodor Pop and Andrew Stear.
Magda Purice