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Immochan Romania – total investments of EUR 170 million, and the story goes on

5 years of activity in Romania were an accelerated development for Immochan, the company becoming a market leader related to the number of the managed shopping centers. The company has launched on the Romanian market in 2012, beginning with a single employee and only 2 shopping centers: Titan and Pitesti, took from Auchan. Today, the number of the shopping centers owned by Immochan reached to 23. Having a team consisting in 53 people, the company manages a portfolio of 1,200 partners and 150,000 sqm of leasable area.

With a current investments plan of EUR 170 million, the company has expressed its plans to develop the Romanian market. “Immochan aims to continue to develop those unique places that bring joy to the people day by day. This orientation exceeds the frame of a retail, residential, office or logistic project. It’s an orientation to the needs of the communities. We do not exclude to develop new activities, mixed projects, in partnership. We wish to become one of the major players aiming to develop Romania, in cooperation with the local and central administrations” stated Tatian Diaconu, CEO at Immochan Romania.

Immochan has already affirmed its role as a global player, careful to the evolution of the communities’ needs in the urban development project initiated in 2013, the Coresi District in Brasov.

The Coresi Shopping Resort project, opened in March, 2015 (45,000 sqm GLA) represented the first step of this project and a benchmark in the industry, by a positioning in the societal retail area. The center is integrated in the community and answers to the needs of a whole region, attracting locals and tourists in the same extent. Inside the shopping center, Immochan has integrated several innovative solutions: a food court with an area of 3,800 sqm, having 800 tables indoor and 600 tables outdoor, during the summer, an area called “The Tree Square” (“Piata cu copaci”), where there is also a stage and where the members of the community are attracted for various cultural events, celebrations, a fitness center with an area of 3,200 sqm that enjoyed of more than 1,800 subscribers in the first month. In these circumstances, “the act of shopping comes as a natural consequence”, as Tatian Diaconu stated in a press conference. Around 9 million visitors entered in the shopping center in 2016, a remarkable performance for a shopping center being at the beginning.

The association made in 2016 with a renowned local brand led to the Coresi Avantgarden project, by which 3,000 new homes will be built in Brasov. 570 apartments in 13 buildings are under construction, and they will be ended in steps by the Q1 of 2018. Specifically, it is provided that the first 3 buildings will be ready in this July, and other 3 buildings will be finalized every 3 months. The quality of the developers and of the concept, as well as the price of only EUR 900 to 950 per sqm led to a success in sales, 564 of the 570 apartments being sold until today.

Immochan 1A large part of the shopping centers managed by Immochan are under a modernization process, by which the company aims to bring added value to its customers and intelligent services for shopping and socializing. The shopping centers in Oradea and Satu Mare have already went through this process and today they bear the Aushopping emblem. In 2017, Immochan will invest EUR 10 million in transforming 5 shopping centers with an area of 30,000 sqm, located in Baia Mare, Timisoara Sud, Constanta, Cluj and Pitesti Gavana. As a result of this transformation, the shopping center will attract new local and international partners and they will improve the experience provided to the people in the communities to which they address.

At the same time, the company also announced an investment of EUR 2 million made for the digitalization of its 23 centers. Investments have been made in wi-fi, which is accessible to the customers on all their area, as well as in certain counter devices that help the business partners of the developer to count the flow of clients in the centers where they conduct their business.

In the next five years, the developer hopes to open three new retail projects in Bucharest, Sibiu and Craiova, Immochan aiming “to make a benchmark from each of these projects”. For the future, the company also takes into account a development to the office and logistics area.

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