Sonae Sierra signs contract with Carrefour for the ParkLake development (RO)

ParkLake, a Sonae Sierra and Caelum Development project, located in the 3rd sector of Bucharest, has just signed a contract with Carrefour for the ownership and operation of the hypermarket type store in the shopping center. With this contract, Carrefour becomes a valuable partner in the ownership of the project.
With the opening scheduled for 2016, Carrefour proves its strong engagement and belief in the success of the project for which the work has started in January of this year. At the same time, ParkLake is making great progress in leasing, with other key brands having signed and/or committed about 65% of GLA at present.
Fernando Guedes de Oliveira, Sonae Sierra CEO, states: "The contract signed with Carrefour reinforces the quality offer of ParkLake. We are very happy to have the professional and internationally recognized retailer Carrefour as a key anchor and partner in the project. We have been very successfully working on the tenant mix of ParkLake and more advances in this area will soon be public, all of which will reinforce the flagship nature of this development”.
In addition, Caelum Development CEO, David Sharkey, comments: "This contract is part of a series of negotiations with several key tenants in order to create a unique tenant mix. We are delighted that Carrefour will be part of this project which guarantees high quality hypermarket operator. Construction is making progress, we are finished with the groundwork and now the structure works will begin – we are on target for our scheduled opening in 2016.”
Anca Damour, Property Division Director at Carrefour Romania, adds: “We are pleased to be part of this project that will strengthen Carrefour’s presence in the Eastern part of Bucharest. Carrefour thus continues its expansion plans on all formats and restates its trust in the growth of the Romanian market. We are confident that ParkLake will be a very successful project”.
ParkLake represents €180 million in investment and it will open doors in 2016. The shopping center will offer high quality retail on 70,000 m² GLA with around 200 shops and 2,600 spaces of underground car parking. The center will offer a unique, environmentally friendly design and a distinctive mix of leisure and sports features connected with the adjoining Titan Park.
Source: Sonae Sierra