Mega Mall in Bucharest to obtain building permit construction to start in 2013 (RO)

Mega Mall project to be developed by Real 4 You Group in Romania has obtained the building permit which allows the Austrian developer to start construction of the center during the next year. Mega Mall is one of the largest retail projects in Bucharest comprising ca. 70.000 m² of leasable area.

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 destination center that will most likely attract more than 900,000 shoppers and visitors (included in the secondary catchment area).

The real estate consulting companies DTZ Echinox and Colliers International are co-exclusive leasing agents for Mega Mall Bucharest. The leading hypermarket operator Carrefour, the electronics and home appliances retailers Flanco and Altex, the entertainment operators Slot Point Casino and Cine Grand as well as major international fashion anchors (e.g. C&A, H&M, Kenvelo, Lee Cooper, Celio, Lashez, Office Shoes) have already secured locations in Mega Mall.

"We are very proud Mega Mall has been given from the authorities, as this is both a positive sign for the retail market and the consumer trends, and a firm reinforcement of our confidence in this project", stated Simina Istrate, Associate Director within the Retail Division of Colliers International. "The construction of the shopping center will start next year, as we already have the lease contracts signed with major tenants and advanced negotiations for the entertainment and food court operators and medium size international fashion brands ", added Istrate.

"Being the first retail development to address the shopping needs of the people living in the Eastern side of Bucharest, Mega Mall has all the attributes to become a successful project: a primary catchment area of approximately 400,000 inhabitants in the immediate surroundings - more than any secondary city in Romania, great visibility, accessibility by car and by public transportation - it is also planned to have a direct access to the future metro station, a size and a concept that are perfectly adapted to the market requirements", declared Razvan Sin, Head of Retail Department, DTZ Echinox.

Real 4 You Group will develop Mega Mall in Bucharest beside several shopping centers throughout Romania, in cities such as Satu Mare, Foscani and Targu Mures, branded as Mega Mall. The centers will have between 18.000 m² and 22.000 m² 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.

Source: DTZ/Colliers International