Sun Plaza opening on schedule for October, currently in final development stage

Newsroom 18/05/2009 | 16:18

“The delay is due to the restructuring of the old project, as the initial completion time was too optimistic. Works are advancing and we've pre-contracted 84 percent of the rentable spaces,” said Friedrich Wachernig, member of the Sparkassen board.
The investor in the project, Austrian Sparkassen Immobilien, the real estate arm of Erste group, put the delay down to project adjustment, comprising a top floor with offices and an underground passage linking the center to Piata Sudului subway station. It raised the projected investment from EUR 185 million to EUR 200 million so far.
By the time of completion, the project will deliver 210,000 sqm of built area, comprising 80,000 sqm of commercial space and 8,300 sqm of rentable space within an A-type office building, to be built in the project's second development stage. The complex's main anchors are Cora hypermarket with 23,000 sqm, DIY store Baumax which rented 10,000 sqm, a Flanco unit on 2,500 sqm, Mobexpert with a rented area of 10,300 sqm and a cinema multiplex operated by Cinema City, delivering 15 halls and a total of 3,000 seats. According to Friedrich Wachernig, 85 percent of the space has been rented.
“We are heading fast towards the end of construction works, which sets the definite opening date for October. Cora hypermarket will be the first to begin implementing the final works,” said Michaels Richard, general manager of EMCT Romania.
Magda Purice

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