Square 7 Properties announces the start of construction works for a new retail park in Giurgiu, with a gross lettable area of 7,000 sqm.
“We continue the aggressive development plan with a new investment in project number 26 in the company’s portfolio,” says Clemens Petschnikar, CEO, Square 7 Properties, adding: “Given the favorable economic context of recent years, we see new opportunities in cities with population between 50,000-100,000 inhabitants, where there is a real need for modern shopping and suitable premises.”
The Giurgiu project is developed in partnership with the Belgian investment fund Mitiska REIM. The general contractor of the project is the Austrian company Strabag.
The Giurgiu retail park is centrally located on Academician Miron Nicolescu boulevard. It is anchored by Lidl, while the shopping gallery is already fully leased to brands such as: Hervis Sports & Fashion, New Yorker, Noriel, Kik, Sinsay, CCC, KFC, Superzoo and others. The opening is planned for the first quarter of 2023.
Currently, Square 7 Properties is in the process of completing the expansion of the retail park in Slatina and in the process of authorizing two other new projects in Pitesti and Mediaș, the three developments having a total area of approximately 35,000 sqm.