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April 20, 2021
BUSINESS

China Town Romania opens EUR 27 M shopping center at Afumati

Premier Emil Boc and P.R. of China Ambassador Liu Zengwen were present at the grand opening yesterday. Boc invited Chinese business people to invest in Romania’s energy, transport and environment sectors through public-private partnerships. The new shopping center will create about 3,000 new jobs, including the staff of its stores.

China Town Romania, owned by Chinese investors, opened a shopping center Tuesday in Afumati, near capital Bucharest, following a EUR27 million investment, Mediafax informs.

The center has 1,240 stores, 200 permanent warehouses and 200 temporary warehouses.

Romanian Prime Minister Emil Boc, present at yesterday’s grand opening, said the area also has a great potential to become a tourist attraction for both Romanians and foreigners. He also invited Chinese business people to invest in Romania’s energy, transport and environment sectors through public-private partnerships, adding this is the best time to invest in Romania, as the country has a greater economic stability than some eurozone countries.

“All who love the Chinese lifestyle, Chinese products will find here a place to spend their free time and also for shopping,” PM Emil Boc said, calling also on Chinese investors to come to Romania: “it’s the best moment to invest here!” he said. The new shopping center will create about 3,000 new jobs, including the staff of its stores.

China Town executive manager Alexandru Ioan, who is also the head of the China-Romania Bilateral Chamber of Commerce, said 95 per cent of the stores have been sold and the rest are up for lease. “The lease contract we propose is for a three-year period. Tenants pay nothing for the first year, in the second year the monthly rent is EUR10 per square meter, and EUR12 per square meter in the third year,” said Ioan, adding the shopping center mainly targets business clients rather than individuals.

The center opened Tuesday is the first stage in an investment project of over EUR100 million, spanning over 40 hectares of land, that will include 3,275 commercial spaces and 1,380 logistic warehouses. The second stage of the project, which could start next year, entails the building of 300 traditional Chinese houses, and the third stage includes the building of a residential complex with apartment buildings, kindergartens, schools and an amusement park.

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