December
2007
FEATURE - ROMANIAN LIST OF MALLS
 
Vol. 3 No.10  
 
   
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MALLWATCH
ROMANIAN LIST OF MALLS

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     Romania is witnessing a wave of shopping mall projects.
There have been around 90 shopping centres announced to be ready by 2010, according to Colliers, with each city of 75,000 inhabitants reporting at least two malls.
     This would create a sum of 2.9 million in gross lettable area (GLA) by 2011.
DTZ Echinox estimates that the supply of modern shopping centres by the end of 2009 could see retail space more than triple.
     But many of these shopping malls will not happen. Some of them are close to each other and, in Arad and Ploiesti, some proposed malls even face each other.
     Smart investors will recognise they are beaten before they open – with the tenants indicating which mall they prefer.
     There is some debate over what constitutes a shopping mall – with many insiders believing that only a property with over 25,000 sqm in GLA can constitute a mall. The malls shown here are not exhaustive and are quite flexible in their description.
     But this is an attempt, gathered from The Diplomat's discussions with the major developers and local authorities, to try and understand the retail map of Romania today.
     Below are the malls open, those to be open in the years 2008, 2009 and 2010, those which have unclear information and, at the end, the cities still on the look-out for malls.

SHOPPING MALLS OPEN:

ALBA IULIA
Location: Str Tudor Vladimirescu
Description: Mall Alba - shopping centre and cinema
Developer: Mall Alba and Alba Iulia Local Council
Anchor tenants: Trident (2,000 sqm), Altex, Game World.
GLA: 21,000 sqm
Opened: 2007

BACAU
Location: Stefan cel Mare Blvd, exit to Piatra Neamt
Description: Arena Mall, 150 stores, 700 car parking spaces
Developer: Arena City Center
Bought by Sonae Sierra in October 2007
Investment: 20 million Euro
GLA: 20,000 sqm
Opened: 2007

BRASOV
Location: Strada Bazaitului
Description: Eliana Mall, 45 stores
GLA: 10,000 sqm
Developer: Atlanta House (Romania)
Investment: 6.5 million Euro
Open: 2004

BRASOV
Location: 229 Calea Bucuresti
Description: Macro Mall, 82 tenants, 7,700 lettable area, 350 parking spaces
Developer: AWG Macro, bought by Dawnay Day Carpathian (UK) for 19 million Euro
Initial investment: eight million Euro
GLA: 14,000 sqm
Open: 2005

BRASOV
Location: Str. Crisului nr. 18
Description: Magnolia Shopping Center, 12,000 sqm of built area, 7,600 sqm shopping area, 250 parking spaces
Developer: Temvar Center
Owner: Miller Group (British) that bought Temvar Center as well
Investment: ten million Euro
Opened : November 2006

CLUJ-NAPOCA:
Location: Strada Avram Iancu
Description: Polus Center, 200 stores, 2,500 parking spaces
Developer: Trigranit Holding, bought by Immoeast (Austria) for 210 million Euro
GLA: 61,000 sqm
Opened: 2007

CLUJ-NAPOCA
Location: Str. Alex Vaida Voievod nr. 53-55
Iulius Mall, includes Auchan, Media Galaxy, multiplex
GLA: 34,400 sqm
Developer: Iulius Group
Investment: 61 million Euro
Opened: November 2007

CONSTANTA
Location: Strada Stefan cel Mare
Description: Tomis Mall, 23,000 sqm, over 60 stores
Developer: Private
GLA: 33,000 sqm
Opened in 1970 as department store and refurbished in 2003

CONSTANTA
Location: Bulevardul Tomis
Description: Centrul Comercial TOM
Developer: Catinvest, owners: Carrefour Romania and Metropolis
Opened: 2006

IASI
Location: 1 Str Palat
Description: Moldova Mall, 100 shops
Developer: Danut Prisecariu/Moldova Universal SA, sold to Equest Balkan Properties (UK) for 34.5 million Euro
Initial investment: ten million Euro
GLA: 9,500 sqm
Opened in 2006

IASI
Location: 2 Blvd Tudor Vladimirescu
Description: Iulius Mall, 156 stores, 12,000 sqm parking
Developer: Iulius Group – Romania
GLA: 10,845 sqm
Initial investment: 11 million Euro
Opened: 2000

ORADEA
Location: 30 Str Nufarului
Description: Lotus Market
Developer: Lotus market
GLA: 30,000 sqm
Opened: 2002

PITESTI
Location: 36 Calea Bucuresti
Name: Euromall Pitesti
Developer: Euromall (France) and bought by Immoeast (Austria)
GLA: 20,000 sqm
Investment: 40 million euro
Opened: May 2007

RAMNICU VALCEA
Location: 125 Str Calea lui Traian
Description: River Plaza Mall
Developer: Setler Mina (Romania), bought by Sonae Sierra for 42 million Euro
GLA: 12,358 sqm
Initial investment: 20 million Euro
Opened: 2006

SIBIU
Location: National Road (DN1) Km 306, Selimbar
Description: Promenada Mall, 16,000 sqm built area, 90 shops, playgrounds, restaurants,
Developer: Belrom (Belgium) North Real Estate Opportunities Fund bought for 83 million Euro in 2006
GLA: 9,600 sqm
Investment: over 60 million Euro
Opened: 2006

TARGU MURES
Location: P-ta Victoriei Nr 14
Description: Mures Mall, 80 shops, 200 parking spaces
Developer: Matrix Investments (Romania)
Investment: 15 million Euro
GLA: 10,000 sqm
Opened: 2007

TARGU MURES
Location: Exit to Cluj-Napoca, 243 Strada Gheorghe Doja
Description: Promenada Mall, part of European Retail Park Targu Mures. 90 shops, food court, casino, multiplex
Developer: Bel Rom Real Estate
Anchor tenants: Auchan, Baumax and Media Galaxy
GLA: 18,000 sqm
Opened: October 2007

TIMISOARA
Location: 1 Str Demetriade
Description: Iulius Mall, 83,000 sqm, 210 stores, supermarket, Multiplex, food court
GLA: 70,000 sqm
Developer: Iulius Group (Romania)
Investment: 20 million Euro
Open: 2005

SHOPPING CENTRES TO OPEN IN 2008

ARAD
Location: Blvd Aurel Vlaicu (centre)
Description: Atrium Center, 150 shops, supermarket, entertainment area, multiplex cinema, fitness centre, bowling, 1,000 car parking spaces
GLA: 27,700 sqm
Developer: Dawnay Day (UK)
Date of completion: End 2008

ARAD
Location: Blvd Aurel Vlaicu
Description: Galleria Arad, supermarket, 1,300 car parking spaces
Developer: GTC (Israel)
Investment: 35 million Euro
GLA: 30,000 sqm
Date of completion: End 2008

ARAD
Location: National Road E58, Pacurari neighbourhood
Description: Era Shopping Park retail complex, 3,000 parking spaces, includes Carrefour, Media Galaxy
Developer: Omilos Group
Investment: 100 million Euro
GLA: 77,000 sqm including 35,000 sqm mall
To open: 2008

BAIA MARE
Location: Junction Str Victoriei and Blvd Decebal
Description: Gold Plaza, 170 shops, eight-screen cinema
Developer: Futureal Group
Investment: 97 million Euro
GLA: 30,000 sqm
Date of completion: End 2008

BRAILA
Name: Armonia shopping mall
Developer: RED acquired by Immoeast.
Anchor tenant: Carrefour
Delivery date: November 2008

BRASOV
Location: Near the train station, Gara de Brasov
Description: Unirea Center
Developer: Unirea Shopping Center
GLA: 22,000 sqm
To open: 2008

BUZAU
Location: Blvd Unirii
Description: Galleria Buzau
Developer: GTC/Aura Investments
GLA: 13,500 sqm
Delivery date: Beginning 2008

CONSTANTA
Location: North, towards Tulcea
Description: Polus Center Constanta, 68,000 sqm
Developer: Polus Transilvania, bought by Immoeast (Austria) for 185 million Euro
To open: end 2008

CONSTANTA
Location: Parcul Tabacariei
Description: City Park Mall, 28,000 sqm, 120 store, supermarket, cinema, botanical garden
Developer: Neocity (Israel)
GLA 25,000
Investment: 50 million Euro
Due to open: 2008

GALATI
Location: 14 Str. Ana Ipatescu
Euromall Galati, supermarket, cinema, pool tables, 220 shops, 800 car parking spaces
Developer: Euromall
GLA: 24,000 sqm
Investment: over 50 million Euro
Opening: end of 2008

ORADEA
Location: Calea Aradului
Tiago Oradea, includes 1,000 car parking spaces, multiplex
Developer: Mivan (Northern Ireland)
GLA 25,000 sqm
Delivery date: end 2008

PIATRA NEAMT
Location: Str Nicolae Dascalescu
Description: Galleria Piatra Neamt, 300 car parking spaces, supermarket
Developer: GTC/Aura Investments
GLA: 12,200 sqm
Delivery date: beginning 2008

SUCEAVA
Location: Blvd 1 Decembrie 1918/E85 National Road
Description: Galleria Suceava
Developer: GTC/Aura Investments
GLA: 10,700 sqm
Delivery date: Beginning 2008

SUCEAVA
Description: Iulius Mall
Tenants: Auchan, Media Galaxy, multiplex, 1,692 parking spaces
GLA: 45,800
Due to open: March 2008

SUCEAVA
Location: Calea Unirii
Description: Suceava Shopping City
Developers: Princeton Investments and Absolute Real Estate Opportunities Fund
Anchor tenants: Carrefour, Baumax, Mobexpert, Media Galaxy
GLA: 47,000 sqm
Delivery date: Autumn 2008

SHOPPING CENTRES TO OPEN IN 2009

BAIA MARE
Location: Over Sassar river opposite Blvd Independentei
Description: Atrium Center, 120 shops, hypermarket, multiplex, bowling, 1,1000 car parking spaces
Developer: Dawnay Day (UK)
GLA: 35,000 sqm
Date of completion: April 2009

BRASOV
Location: Civic centre
Description: Civis Center, 2,000 parking spaces
Developer: Tiriac Imobiliare (Romania) and Riofisa (Spain)
GLA: 36,000 sqm
To open: by end of 2009

CLUJ-NAPOCA
Location: Blvd 21 Decembrie 1989 [town centre]
Description: Atrium Center, 10,000 sqm office area, four star hotel
Developer: Dawnay Day (UK)
GLA: 31,500 sqm
Date of completion: beginning 2009

CRAIOVA
Location: Near Parcul Romanescu
Description: Craiova Mall, 122,000 sqm, supermarket, entertainment area
Developer: Elmec and Alesonor (Greece)
Anchor tenant: Cinema City with 56,000 sqm
Value: 140 million Euro
To open: 2009

CRAIOVA
Craiova Mall, shopping and leisure, 1,833 parking spaces
Developer: Sonae Sierra
GLA: 55,537 sqm
To open: Autumn 2009

GALATI
Location: Road linking Braila to Galati
Description: Siret Plaza, 23,000 sqm shopping area with 120 shops, Carrefour, entertainment area
Developer: EMCT
Value: 90 million Euro
To open: 2009

IASI
Location: at the junction between Str Grivita si Str Independentei
Developer: Moldova Universal Iasi
Investment: 25 million Euro
Delivery date: spring 2009

PLOIESTI
Location: Strada Republicii to Brasov
Tiago Ploiesti includes 150 shops, multiplex
Developer: Mivan (Northern Ireland)
GLA: 25,000 sqm
Delivery date: Summer 2009

TARGU MURES
Location: Strada Gheorghe Doja
Tiago Targu Mures, includes 150 shops, multiplex, 1,000 car parking spaces
Developer: Mivan (Northern Ireland)
GLA: 25,000 sqm
Delivery date: end 2009

TIMISOARA
Location: near Sala Sporturilor, civic centre
Description: Civis Center Timisoara, mixed commercial, office and residential, 20 per cent green areas, 2,300 parking spaces
Developer: Tiriac Imobiliare (Romania) and Riofisa
Total built area: 123,000 sqm
GLA: 45,600 sqm
Investment: 150 million Euro
To open: Nov 2009

Shopping centres to open in 2010:

ARAD
Location: Junction of Aurel Vlaicu Blvd Vanatori
Description: Arad Palace: shopping mall with eight to ten screen cinema
GLA: 35,000
Developer: AFI Europe Group
To open: first quarter 2010

PLOIESTI
Location: Next to Carrefour Ploiesti, exit to Buzau
Name: Westhill Mall (provisional name), shopping and leisure centre, 3,500 car parking spaces
Developer: Westhill (UK)
Investment: 120 million Euro
GLA: around 85,000 sqm
Target delivery date: 2010

PLOIESTI
Location: On the site of industrial products firm Flacara, central Ploiesti
Description: Shopping mall
Developer: AFI Europe Group (Israel)
GLA: around 35,000 sqm
Estimated delivery date: end of 2010

PLOIESTI
Location: Motorway exit to Bucharest
Description: Shopping and leisure centre with 3,200 car parking spaces
Developer: Sonae Sierra (Portugal)
Investment: 154 million Euro
GLA: 64,070 sqm
Delivery date: 2010

PLANNING STAGES

'The Diplomat – Bucharest' has approached the shopping malls developers and local authorities below to find out further information such as addresses and delivery dates for the projects and so far we have incomplete data. We are in the process of updating information on the progress of the following malls:

ALEXANDRIA
Location: East of Alexandria, on national road DN 6
Description: Shopping mall
Developer: Bogaris (Spain)
GLA: 15,680 sqm

ARAD
Description: 50,000 sqm mall in office and residence development
Developer: Delta (Austria)
Investment: 300 million Euro
To open: 2009

ARAD
Tiago Mall
Developer: Mivan

BACAU
Tiago Mall
Developer: Mivan

BISTRITA
Location: Str Calea Moldovei
Galleria Bistrita, 850 parking spaces
Developer: GTC/Aura Investments

BOTOSANI
Location: on the premises of former textile factory Armonia
Developer: Magnum Finantari Imobiliare
Anchor tenant: Real
Stage of development: urbanism certificate for development approved

CALARASI
Developer W-Go Grup has announced its intention to build a shopping mall.

CRAIOVA
Name: Euromall Craiova
Developer: Euromall
Built area: 45,000 sqm
Parking spaces: 900
Investment: 65 million Euro

DROBETA TURNU-SEVERIN
Location: Blvd Nicolae Iorga
Name: Shopping centre project
Developer: British-American investment fund Morava, developer of Spar network
Built area: 4,000 sqm
Stage of development: authorisation for demolition of the construction factory approved.

GALATI
Location: Str Prelungirea Brailei [to Braila]
Galleria Galati, includes supermarket, multiplex
GLA: 28,000 sqm
Developer: GTC/Aura Investments

GALATI
Tiago Mall
Developer: Mivan

IASI
Description: 54,000 sqm retail space, 1,400 parking spaces, plus office and residential
Developer: Plaza Centers (Israel)
Value: 115 million Euro
To open: 2010

PLOIESTI
Name: Euromall Ploiesti
Developer: Euromall
Built area: 55,000 sqm
Parking spaces: 1,200
Investment: over 75 million euro

PLOIESTI
Location: exit towards Brasov
Name: Perla Shopping Center
Developer: W-GO group
GLA: 25,000 sqm

RESITA

Developer: Riga Construct has received the urbanism certificate from City Hall and is drawing up the zonal urban plan for a GLA of 16,895 sqm.

Developer Rico Confort SRL has also received the urbanism certificate from City Hall and is drawing up the zonal urban plan for a GLA of 16,000 sqm.

SATU MARE
Location: Blvd Henri Coanda/Str Corvinilor
Developer: Dawnay Day
Atrium Center Satu Mare, 135 shops, hypermarket, 750 car parking spaces
GLA: 25,000 sqm

SIBIU
Tiago Mall
Developer: Mivan

SLATINA
Location: north-west Slatina
Description: 25,000 sq shopping and entertainment centre, 450 parking spaces
Developer: Plaza Centers (Israel)
Value: 25 million Euro

TARGOVISTE
Matrix Investments has plans for a fashion mall with 700 car parking space in the centre.

TIMISOARA
Description: Mixed use shopping mall, office buildings, 600 apartments
Developer: Plaza Centers (Israel)
Value: 60 million Euro

SITUATIONS VACANT

The state of shopping in cities above 50,000 inhabitants in Romania, according to the local councils.

DEVA
No mall project announced yet

GIURGIU
No mall project announced yet

SFANTU-GHEORGHE, COVASNA
No mall project announced yet

SLOBOZIA
Bid for construction of a mall, on the national road DN 2A on a four hectare plot of land to be held in 2008.

TARGU-JIU
There is a bid for Targu Jiu for a 6.6 hectare island on the Jiu river to be held in 2008.

TULCEA
No mall projects announced yet

ZALAU
No mall project announced yet


 
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