Square 7 Properties announces it has acquired a 30,000 sqm land in Medias, Aurel Vlaicu area, where they have begun authorizing procedures for a new retail park. The development will be carried out as a single investor.
“We have over 15 years of expertise in the development of retail projects, which we continue to capitalize on, in new strategic investments in Romania”, Clemens Petschnikar, CEO, Square 7 Properties explains.
At the same time, Square 7 Properties continues the investment plan together with the Belgian-based fund Mitiska REIM and is preparing this summer for the inauguration of Slatina Shopping Park’s expansion, as well as the start of a new investment in Giurgiu.
The last two years have favored the quickening of retail parks development, a retail scheme that has reached the top of the preference for real estate investors.
Square 7 Properties developed together with Mitiska REIM a portfolio of 26 retail parks, with a total area of 142,000 sqm. Currently, the team is working on new projects with an area of 50,000 square meters, which will be delivered by the end of 2023.
The group has over 15 years of experience in the Romanian market, with a solid and professional team, covering a wide range of services: from development, administration, to facility and property management. The business model of retail parks has the advantages of food anchors, outdoor parking spaces and direct access to shops.