„Bucurestii Noi is a pending project. We have already financed it, we have a series of contracts signed with retailers. We signed with Cinema city too. With some retailers we try to reach an agreement in order to complete the constractual details. The main idea was to start the mall at the same time with the new metro station in the vicinity of its main entrance”, has declared for Dailybusiness.ro Israel Vizel, mall manager, AFI Palace Malls Division.

„I believe in approximately one year and a half we will be capable to open the commercial centre in Bucurestii Noi, in the period the completion of the metro station is estimated”, he added.

AFI Europe obtained in May 2013 the construction permit for its second Bucharest mall, in Bucurestii Noi. The company owns on Bucurestii Noi Blvd a land of 65,000 sq. m.

Three commercial centres were completed in Romania in the last quarter of last year. Promenada, with a rentable area of 35,000 sq. m, developed by Raiffeisen Evolution, was the only mall opened in Bucharest in 2013. In the country, AFI Europe completed the group’s second retail project in Romania - AFI Palace Ploiesti (33,000 sq. m rentable area), and NEPI completed Shopping City Galati (27,000 sq. m rentable area).

The mall deliveries volume in 2014 would be probably lower than in 2013, according to JLL. Two projects are announced this year, both developed by NEPI: Vulcan Value Center (35,000 m2 rentable area) in Bucharest and Shopping City Targu Jiu (27,000 m2 rentable area) in Targu Jiu. 


The most active zone regarding future retail developments was the Eastern Bucharest, where both Sonae Sierra and Caleum (Parklake) as well as NEPI and Real 4 You (Mega Mall) announced progress of their competing projects. (source: dailybusiness.ro)