Polish investor Scallier acquires retail park in Timisoara
Polish property investment company Scallier has acquired a retail park in Romania’s western city of Timisoara, deal advisor PeliPartners said on Tuesday.
The park, acquired by means of a business transfer from Oasis group, will be further operated under the brand FunShop Park, PeliPartners said in a press release.
“The concept introduced by Scallier on the Romanian market involves the integration of modern premises to serve a wide range of customers. The project we are preparing for Timisoara aims to revitalize the retail area and to bring new standards corresponding to the real needs of customers,” Scallier Romania development director Adrian Aleman said.
Founded in 2011, Scallier has been operating on the Polish market for nearly a decade and specialises in investment management in the sector of retail parks, regional galleries, arcades and free-standing commercial facilities.
In May, the developer announced that it will open two new retail parks in Romania this year. The 6,200 sq m FunShop Park in Rosiorii de Vede is scheduled to come into use at the turn of the third and fourth quarters of this year, while the 5,000 sq m park in Focsani is to open in the fourth quarter, Scallier said at the time.
In August, Scallier announced that it plans to develop a network of retail parks in small and medium-sized Romanian cities by 2022.
Oasis group is one of the largest retail developers in Romania, with a portfolio of over 60 delivered projects, 800 million euro ($942 million) in investments and over 1.5 million sqm of land development, according to data by the company.