Articles - commercial centres

AFI Cotroceni sales 10% higher than last year

Retailers’ sales from the commercial center AFI Palace Cotroceni, less Auchan hypermarket, grew by 10% in the first 6 months. End of the year estimates made by AFI Europe, the owner of the mall show a 5% advance to 215 million euro.

NEPI buys 7.4-Ha land in Piatra Neamt for shopping center

South-African investment fund New Europe Property Investment wants to buy a 7.4-hectare land in Piatra Neamt where it will develop a shopping center and to take over the remaining stake of 30% in the Mega Mall Bucharest project, NEPI said in a financial report Wednesday.

CBRE: Only 5 pct of the modern retail stock to undergo complete renovation

Only 5 pct of the modern retail stock underwent complete renovation, while 15 pct of the stock only suffered few modifications, considering that almost 40 pct. of the total modern commercial area is functional for more than 6 years and needs repositioning or renovations, said Luiza Moraru, head of retail and asset services within CBRE Romania.

Coresi Brasov, 60 pct ready: the mall should reach annual revenues of more than EUR 5 million in 3-5 years

Coresi Brasov commercial centre, developed by Immochan, is 70 pct rented 8 months before the opening.

EUR 35 million loan for the development of the new Obor Mall

Businessman Florin Pogonaru intends to borrow EUR 35 million for the financing of the mal he intends to build near Obor market in Bucharest through its company Prodplast Imobiliare, whose capital should be increased with more than EUR 10 million for the same purpose.