"By the end of the year, Victoria City will be 70% let, we’ll have the construction permit in the next few weeks and we intend to start the construction early next year. We will develop 36,000 sq. m GLA (rentable area). On the side of the mall we will develop an office tower. This is the second phase of the project, the tower will have 15,000 sq. m rentable area and 11 floors, being the first office tower in Bucurestii Noi. The proximity to the metro station makes the area attractive for the companies looking for offices. The targeted companies are those in technology and pharma fields", said Michael Topolinski, the founder of Benevo, cited by Mediafax.

"We will choose the general contractor in 30 days and start the construction in two months. WE will complete the construction in the first quarter of 2015 and then we’ll start the development of the office building ", added the businessman.

By now, the company signed leases with Cora, H&M, C&A, Inditex (Pull&Bear, Stradivarius, Bershka), Deichmann, CCC, Takko, Mango, Koton, Cinema Grand.

"We’ll have entertainment solution, plus retailers you have not seen by now in Romania. The mall will include ground floor, first floor and 1,300 parking places, and we already have the financing for the development. We intend to get financing for the offices too, but now we need to focus on pre-renting and design ", Topolinski said.

Benovo owns in Bucharest some hundreds apartments and also bought the industrial platforms Vulcan and Aversa, for EUR 21.6 million and 17.3 million respectively. The company has paid approx. EUR 40 million for the land of Textila Dacia.

The businessman says that currently Benevo is looking for buying lands in Bucharest for other retail and office projects, but also for residential developments.


Victoria City Lifestyle Retail Center is developed in partnership with the company CD Capital Partners, with Canadian shareholders too. (Source: wall-street.ro)