ParkLake, Located in Sector 3 in the eastern side of Bucharest, will be a unique shopping centre in the country, representing an investment of €180 million with the opening scheduled for 2016. Developed in a Joint Venture between Sonae Sierra, the international shopping centre specialist, and Caelum Development, a leading Eastern European Real Estate developer who recently joined the leading international retailer Carrefour, who will own and operate the 12,000m² hypermarket.

ParkLake 1

ParkLake received the building permit in September 2013, and the phase of excavation works and slurry walls have finished, so foundations and structure works have no started whtin schedule. The shopping centre will offer high quality retail in 70,000 m² GLA with around 200 shops and 2,600 spaces of underground car parking. The centre will offer a unique, environmentally friendly design and a distinctive offering of leisure and sports features connected with the adjoining Titan Park.

With an excellent location in Sector 3 in the Eastern part of Bucharest, ParkLake will be only a 10 minute drive from the city centre, and will benefit from substantial road frontage on the 4 lane Liviu Rebreanu road. The location is well serviced with all manners of
public transportation including bus, tram, and metro, and serves a primary catchment area of more than half a million inhabitants within a 10 minute drive-time.

Fernando Guedes de Oliveira, Sonae Sierra CEO states: "ParkLake reflects our objective of creating the best shopping and leisure destination in Romania's capital, in strong connection with the adjacent green area of Titan Park, with the design of the center built around the 'nature-park-family' theme. We are confident that we will give Bucharest's inhabitants a ground-breaking shopping experience in 2016."

In addition, Caelum Development CEO, David Sharkey, comments "ParkLake is an important project for the Joint Venture, and we are happy to bring both international know-how and experience to the Romanian market. We are developing a shopping center that combines shopping, services, culture, and leisure activities with the latest solutions on safety, maintenance and management equipment, as well as special attention devoted to the comfort of its visitors, tenants and the local communities."

As a sustainable centre, ParkLake is designed to fulfil the most rigorous and demanding quality requirements, in terms of comfort, safety and environmental efficiency. ParkLake will adopt modern environmental solutions that aim to reduce electricity and water usage, as well as maximise waste recycling both during construction and at an operational level. The Joint Venture will develop a shopping centre that combines shopping, services, culture and leisure activities with the latest solutions on safety, maintenance and management equipment, as well as a special attention devoted to the comfort of its consumers, tenants and local communities.


Bucharest, Romania

Total GLA: 70,000 m²

Number of shops: 200

Parking Spaces: 2,600

Owners: Sonae Sierra/Caelum Development/Carrefour

Developers: Sonae Sierra/Caelum Development

€180 mln

Catchment Area: 500,000 Inhabitants

Opening Date: 2016

More Information:

Sonae Sierra Baneasa Business & Technology Park 42-44 Bucuresti-Ploiesti Street,

Building A,
Wing A1, 1st floor, sector 1

013696 Bucharest, Romania

Telephone: +40 21 36 10 910

Fax: +40 21 36 10 988



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