IMMOFINANZ Group opened the first modern shopping and entertainment center at Baia Mare in the northwest of Romania on November 4, 2010. The Gold Plaza Baia Mare is a development project by the IMMOFINANZ Group, which was realized together with the Hungarian Futureal, one of the leading property developers in Central and Eastern Europe.
The occupancy rate had reached nearly 80% by the opening date. Local and international tenants that include C&A, New Yorker, Deichmann, Takko, Leonardo, Waikiki, Domo, House of Art, San Francisco, Fox, Douglas, Centrofarm and Orsay are represented in the Gold Plaza.
As the only facility of its type in this region, the Gold Plaza offers a wide range of shopping and entertainment opportunities to a catchment area with a population of more than 1.2 million. The shopping center includes a modern multiplex movie theater, bowling lanes and an extensive entertainment area. It also has a casino, a fitness center with an attractive view of the nearby mountains and a modern gastronomy zone with a diverse offering. The unique open-air restaurant terrace provides a fascinating view of the mountain landscape surrounding Baia Mare. The center is located between the Strada Victoriei and Independentei Boulevard, two main traffic arteries that connect the eastern and western sections of this metropolitan area. With 140,000 residents, Baia Mare is one of the largest cities in northwest Romania.
Challenging market environment in Romania
In spite of the economic crisis and the still challenging market situation in Romania, IMMOFINANZ was able to secure financing for the Gold Plaza at an early stage and thereby lay the cornerstone for the realization of this project.
This shopping center is only one of three openings in Romania during 2010, although 120 projects were originally planned. The unique market position of the shopping center within roughly one hour's drive and a catchment area of over one million residents will support the sustainable success of the Gold Plaza.
Eduard Zehetner, CEO of the IMMOFINANZ Group, on this project: "In a challenging environment like Romania, I am extremely pleased that we were able to complete and open this facility. For the residents of the region, it is not only a shopping and entertainment center but much more important an important economic impulse."
Source: ACCEDO Austria GmbH