Mega Mall project to be developed by Real 4 You Group in Bucharest aims a 50% occupancy in the following months, which allows the Austrian developer to prepare the start of the construction.
Bucharest, 8th of May 2013 – Mega Mall project to be developed by Real 4 You Group in Bucharest aims a 50% occupancy in the following months, which allows the Austrian developer to prepare the start of the construction.
Mega Mall started the year on positive grounds, with new lettings already signed and more to be closed soon. Among the key-tenants that already secured locations in Mega Mall are the leading hypermarket operator Carrefour, the electronics and home appliances retailers Flanco and Altex, major local and international fashion anchors (e.g. C&A, H&M, Kenvelo, Lee Cooper, Tom Tailor, Bata, Benvenuti, Celio, Lashez, MOA, Office Shoes) as well as the entertainment operator Slot Point Casino. The real estate consulting companies Colliers International and DTZ Echinox are co-exclusive leasing agents for Mega Mall Bucharest.
“Mega Mall had an outstanding success on the local retail market, given its excellent positioning, unprecedented commercial area and balanced tenant mix. There are over 15,000 sq m of spaces in advanced stages of negotiations at the moment, therefore we estimate that the project will reach an occupancy rate of more than 50% in the following months“, states Liana Dumitru, Associate Director in the Retail Agency of Colliers International Romania.
The project obtained the building permit in November 2012, thus showing that public authorities believe in the app. 70,000 sq m project that will address the shopping needs of the Central-Eastern Bucharest. Real 4 You plans to start construction worksas soon as more than 50% occupancy rate is reached.
Mega Mall benefits from a privileged location at the junction of Iancului and Pantelimon roads, on the former industrial platform Electroaparataj. It is going to be the first modern retail scheme dedicated to Eastern inhabitants of Bucharest, positioning itself as a shopping and entertainment destination center, with a catchment area of 900,000 inhabitants(including the secondary catchment area).
“The project is easily accessible by public transport and will have a connection to the future metro line which is in planning. With a carefully designed concept and served by more than approx.3,000 parking places, Mega Mall was planned to become one of the top shopping destinations in Bucharest.” states Razvan Sin, Head of Retail Department, DTZ Echinox.
Real 4 You Group will develop, beside Mega Mall in Bucharest, several shopping centers throughout Romania, in cities such as Satu Mare, Focsani and Targu Mures, branded as Mega Mall. The centers will have between 18,000 sq m and 22,000 sq m each and will be anchored by a hypermarket or a supermarket. Both real estate consulting companies are co-exclusive leasing agents for all Mega Mall projects in Romania.