September
2007
FEATURE - REAL ESTATE
 
Vol. 3 No.7  
 
   
LINKS

The Diplomat Guides
Bucharest Hotel Guide 2007
Guide to the biggest names in local law - Bucharest 2009
Bucharest - International School Guide

Mall fever

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     Shopping malls are announced and built at a breakneck speed in Romania. Below we showcase a summary of malls built or under construction in Romania. To add to this, developer Mivan has also announced it will build malls under the brand name ‘Tiago Mall’ in secured sites in Arad, Oradea, Brasov, Targu Mures, Ploiesti, Bacau and Sibiu, while there are also malls in or planned for Alba Iulia, Bacau, Targu Mures and Slatina

BUCHAREST

Location: Calea Vitan
Description: Bucuresti Mall, over 140 shops, 1,800 parking spaces, 5,000 sqm supermarket, ten screen cinema, casino
Developer: Anchor Grup (Turkey)
Investment: 53 million Euro
Opened: 1999

Location: Blvd Timisoara
Description: Plaza Romania, 104,000 sqm of built area, 6,000 sqm supermarket, cinema, 2,400 parking spaces
Developer: Anchor Grup (Turkey)
Investment: 56 million Euro
Opened: 2004

Location: 2 Sos Oltenitei
Description: City Mall, 38,000 sqm, 19,000 sqm lettable area, 110 stores
Developer: Jaguar Development (Israel-Greece), bought by APN Funds Management (Australia) for 100 million Euro
Opened: 2005

Location: Baneasa
Description: Jolie Ville, 12,000 sqm, 1,700 sqm supermarket, 456 sqm restaurants, 4,000 sqm parking lot
Developer: HKS Group (Egypt)
Opened: 2004

Location: 536-560 Blvd Iuliu Maniu, Bucharest
Description: Militari Shopping Centre, 55,600 sqm big box retail, 22,500 sqm supermarket, 2,200 parking spaces
Developer: Liebrecht & Wood (Belgium), bought by Meinl European Land (Austria) for 20 million Euro
Opened: 2003

Location: Baneasa
Description: Baneasa Shopping City, over 220 shops, three-level food court, 85,000 sqm of gross lettable area
Developer: Baneasa Developments SRL
Investment: 150 million Euro
To open: Spring 2008

Location: Blvd Timisoara
Description: Cotroceni Mall, 210,000 sqm build area, 20 screen cinema, 250 retail units, parking for 2,500 vehicles
Developer: Africa Israel (Israel)
Investment: 100 million Euro
To open: 2008

Location: Piata Sudului
Description: Sun Plaza, 208,000 sqm build area, 76,000 sqm lettable area
Developer: EMCT (France)
Investment: 100 million Euro
To open: Spring 2008

Location: Chitila
Description: Colosseum, 162,000 sqm of built area, 54,000 commercial spaces,
Developer: Modus Properties (UK)
First phase to open: 2009

Location: Bucharest-Pitesti highway km 13
Description: Militari Retail Park, 250,000 sqm shopping centre and outlet store
Developer: Liebrecht&Wood (Belgium)
Investment: 120 million Euro
To open: Oct 2007

Location: Baneasa
Description: Baneasa Mall, 105,000 sqm, hypermarket, 12 screen cinema, 2,250 parking lot
Developer: EMCT (France)
To open: 2008

Location: Rahova
Description: Liberty Center, over 100 shops, 25,000 sqm of gross lettable area, 3,500 sqm supermarket, 700 parking spaces, ice rink
Developer: Mivan (Northern Ireland)
Investment: 70 million Euro
To open: Autumn 2008

ALBA IULIA

Location: near Mecanica Stadium
Description: 38,237 sqm built area, shopping centre, cinema
Developer: Mall Alba and Alba Iulia Local Council
Investment: Ten million Euro
To open: end 2007

ARAD

Location: Blvd Aurel Vlaicu
Description: Atrium Center, 150 shops, supermarket, entertainment area, multiplex cinema, fitness centre
Developer: Dawnay Day (UK)
Date of completion: End 2008

Description: 25,000 sqm of lettable area
Developer: GTC (Israel)
Investment: 35 million Euro
Date of completion: End 2008

Description: 80,000 sqm land, 38,000 sqm lettable area
Developer: Africa Israel (Israel)
Investment: 50 million Euro
To open: 2010

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

BACAU

Location: Cartireul Nord, Bacau
Description: 150 stores, 30,000 sqm
Developer: Arena City Center
Investment: 20 million Euro
To open: end 2007

BAIA MARE

Location: Blvd Independentei
Description: Atrium Center, 40,000 sqm of lettable area, 160 shops, hypermarket
Developer: Dawnay Day (UK)
Date of completion: April 2009

Description: Gold Plaza, 43,000 sqm of usable area
Developer: Futureal Group
Investment: 97 million Euro
Date of completion: End 2008

BRASOV

Location: Strada Bazaitului
Description: Eliana Mall, 45 stores, 17,000 sqm, 10,000 sqm of shopping space
Developer: Atlanta House (Romania)
Investment: 6.5 million Euro
Open: 2004

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
Open: 2005

Location: Racadau neighbourhood
Description: Magnolia Shopping Center, 19,000 sqm of built area, 7,600 sqm shopping area, 250 parking spaces
Developer: Temvar Center
Investment: ten million Euro
Under construction

CLUJ-NAPOCA

Location: Blvd 21 Decembrie 1989
Description: Atrium Center, 31,500 sqm shopping area, 10,000 sqm office area, four star hotel
Developer: Dawnay Day (UK)
Date of completion: 2009

Location: Near Floresti
Description: Polus Center, 61,000 sqm lettable area, 200 stores, 2,500 parking spaces
Developer: Trigranit Holding, bought by Immoeast (Austria) for 210 million Euro
To open: Nov 2007

CONSTANTA

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

Location: Parcul Tabacariei
Description: City Park Mall, 28,000 sqm, 120 store, supermarket, cinema, botanical garden
Developer: Neocity (Israel)
Investment: 50 million Euro
To open: 2007

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

CRAIOVA

Description: 45,000 sqm area
Developer: Euromall (France)
Investment: 65 million Euro
Date of completion: end 2009

Location: Near Parcul Romanescu
Description: Craiova Mall, 122,000 sqm, supermarket, entertainment area
Developer: Elmec and Alesonor (Greece)
Investment: 80 million Euro
To open: 2009

 

GALATI

Location: Road linking Braila to Galati
Description: Siret Plaza, 23,000 sqm shopping area, hypermarket, entertainment area
Developer: EMCT (France)
Investment: 45 million Euro

Location: Galati
Description: Euromall Galati, 24,000 sqm lettable area, supermarket, 220 shops
Developer: Euromall (France)
Investment: 40 million Euro
To open: Nov 2007

IASI

Location: 2 Blvd Tudor Vladimirescu
Description: Iulius Mall, 156 stores, 34,000 sqm, 12,000 sqm parking
Developer: Iulius Group – Romania
Investment: 11 million Euro
Opened: 2000

Location: 1 Str Palat
Description: 19,000 sqm built area, 9,500 sqm lettable area
Bought by Equest Balkan Properties (UK)
Investment: 34.5 million Euro
Opened: 2006

Location: Pacurari Neighbourhood
Description: Era Shopping Park, 27,000 sqm built area, 3,000 parking spaces
Developer: Omilos (Greece)
Investment: 100 million Euro
First phase to open: 2008

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

Description: Moldova Mall, 20,000 sqm of built area, 100 shops
Developer: Danut Prisecariu, sold to Equest Balkan Properties (UK) for 34 million Euro
Initial investment: ten million Euro
Opened in 2006

Description: Era Shopping Park, 35 ha land, 42,000 sqm retail complex, 27,000 sqm mall, 15,000 sqm supermarket, 3,000 parking spaces
Developer: Omilos-Greek
Investment: 100 million Euro
To open: 2008

PITESTI

Description: 32,000 sqm of built area, 20,500 lettable area, cinemas, casino, 700 parking spaces
Developer: Euromall (France), bought by Immoeast (Austria) for 87 million Euro
Initial investment: 35 million Euro
Opened: April 2007

PLOIESTI

Description: 55,000 sqm retail complex, 1,200 parking spaces
Developer: Euromall (France)
Investment: 75 million Euro
Date of completion: 2009

RAMNICU VALCEA

Location: 125 Str Calea lui Traian
Description: River Plaza Mall, 23,000 sqm built area, 12,000 sqm lettable area,
Developer: Setler Mina (Romania), bought by Sonae Sierra for 42 million Euro
Initial investment: 20 million Euro
Opened: 2006

SIBIU

Location: Retailpark Sibiu
Description: Promenada Mall, 16,000 sqm built area, 90 shops, playgrounds, restaurants,
Developer: Belrom (Belgium)
Investment: over 60 million Euro
Opened: 2006

SLATINA

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

TARGU MURES

Location: on the old 'Bem-Bem' building
Description: Mures Mall, 17,000 sqm of built area, 80 shops, 200 parking spaces
Developer: Matrix Investments (Romania)
Investment: 15 million Euro
To open: Nov 2007

TIMISOARA

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

Description: Mixed use shopping mall, office buildings, 600 apartments
Developer: Plaza Centers (Israel)
Investment: 100 million Euro

Location: near Sala Sporturilor
Description: mixed commercial, office and residential, 20 per cent green areas, 2300 underground parkings
Developer: Tiriac Imobiliare (Romania)
Investment: 150 million Euro
To open: Nov 2009


Big deals 2007

Some new projects valued at over 100 million Euro hitting the headlines since January 2007

ARAD
Description: residential project, 52 ha land
Developer: Delta Solutions (Austria)
Investment: 300 million Euro
Date of completion: 2009

Location: former IMAR factory
Description: 3,000 apartments, 25 ha land
Developer: George Paunescu (Romania)
Investment: 500 million Euro
Date: due to receive planning permission

CLUJ-NAPOCA
Location: Dealul Lomb
Description: 203 ha, residential complex with 500 houses
Developer: Impact (Romania)
Investment: 415 million Euro
Date: to start this Autumn

BRASOV
Description: 1,600 apartments
Developer: Aura Investment and Baron Group (Israel)
Investment: 160 million Euro

IASI
Location: Tatarasti - Venetia area
Description: ‘Green Park’, 14-block housing
Developer: Future Group
Investment: 120 million Euro

Description: 54,000 sqm retail space, 15,000 sqm office space, 1,400 parking spaces
Developer: Plaza Centers (Israel)
Investment: 115 million Euro
Date of completion: 2010

CONSTANTA
Location: former RATC site
Description: residential, hotel,
office buildings, commercial buildings
Developer: Gea Prasa and Detea (Spain)
Investment: 450 million Euro
Date: expected to start 2008

ILFOV
Location: Stefanestii de Jos
Description: ‘Cosmopolis’, 100 ha, office, retail, 7,000 apartments and villas
Developer: Opus (Turkey)
Investment: 670 million Euro
Date of completion: to be constructed in five to eight years

BUCHAREST
Location: Prelungirea Ghencea
Description: ‘Cartierul Latin’, 2,600 apartments, 20,000 sqm shopping centre, 60,000 sqm parking, school
Developer: Victor Stoiculescu (Romania)
Investment: 450 million Euro

Location: Ghencea
Description: 960 houses, 3,200 apartments, 37,000 sqm office, 73,000 sqm retail, 93,000 sqm warehouse
Developer: Impact (Romania)
Investment: 600 million Euro
Date: to start by end 2007, forecast end 2014

Location: 79-81 Sos Pipera-Tunari
Description: ‘Belvedere’, business centre, 600 apartments, 800 parking spaces
Developer: Rotary (German/Romanian)
Investment: 100 million Euro

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