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Bucharest
July 28, 2021
BUSINESS BUSINESS COMPANIES ECONOMY Real Estate

Catinvest invests 6 million euros in a new extension of Electroputere Mall with an open air food court and 5.500 square meters of additional retail

Catinvest has obtained the required building permit to start construction works for a new extension of Electroputere Mall. Starting July, with an estimated investment of 6 million euros, Catinvest will develop an extension to Electroputere Mall’s food court, adding 5 new restaurants, of which 3 will have private outdoor terraces, a new common outdoor terrace to be shared by the clients of the restaurants and an extension of 5.500 square meters of additional retail space.

“Food has become a key factor of attractivity for malls. With this new investment, Electroputere Mall will include an important offer of 25 restaurants, 4 with private terraces and 21 benefitting from a 1.000 square meters outside terrace overlooking green spaces and a beautiful church”, says Jibril Semour, General Manager of Catinvest Eastern Europe.

Also, the extension of 5.500 square meters GLA included in the project will allow new top brands to join the 187 brands already present in the Electroputere Parc.

This new extension is not the only development project for Electroputere Parc this summer, as another office and retail building is close to completion. With this 39 million euros investment, Catinvest is already adding 9,000 square meters GLA of retail and entertainment and 16,000 square meters GLA of A Class offices.

“The second tranche of our 25.000 square meters mixed-use building will be completed in a few weeks. The retail part of this development is already 92% leased. It is therefore the perfect moment to start the construction process of this new extension project and it is really exciting to see Electroputere Parc’s commercial and office areas grow stronger every year”, notes Bertrand Catteau, President of Catinvest Group.

Overall, Catinvest has secured financing worth 58,5 million euros for 2021-2022, aimed for further expansions of Electroputere Parc and the construction of new retail, offices and co-working spaces, as well as aparthotels, with a total area of 46.000 square meters.

In April, Catinvest announced the consolidation of its regional shopping center Electroputere Parc as the hub for sports equipment and brought the Hervis brand for the first time in Craiova, part of the 39 million euros extension completed this year. Electroputere Parc is the reference shopping center in the south west region of Romania, with over 187 top brands in retail, fashion, food, entertainment, all in one place, over a total sales area of 92.000 square meters.

The French real estate group Catinvest, which owns and manages Electroputere Parc, also owns and manages several other shopping centers in Romania – Carrefour Orhideea and Cora Pantelimon in Bucharest and Carrefour TOM in Constanta – as well as in Eastern Europe – Auchan Savoya Park in Budapest and Tesco Borska Pole in Plzen. Catinvest is also active in France in residential and shopping centers activities. In total, Catinvest owns and manages more than 500,000 square meters of spaces in France and Eastern Europe.

 

 

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