TriGranit Management Corporation (TGM) re-enters the Romanian shopping center market with the announcement of a full property management mandate for Atrium Center, the first shopping mall opened three years ago in Arad, Romania.
Atrium Center is located in the city center, next to the railway and the central bus station, with great accessibility by all means of transportation. The 29,500 m² GLA shopping mall with an excitingly unique triangular structure, is arranged over three levels. The tenant mix of 150 shops features important international and local brands, entertainment, wellness facilities, and the 10-screen, 1,600-seat Cinema City, the market leader multiplex in Romania, equipped with the latest generation design specification. The shopping center has recently been acquired by a company belonging to the Demján group.
The city of Arad - located in the western part of Romania - is considered one of the most dynamic cities in Romania. With a rich industrial and commercial tradition, Arad is one of the most prosperous towns in Romania. As a result of numerous investments near the Hungarian border, the city has a growing economy.
Philip Evans, the CEO of TriGranit Management Corporation, underlined: “The new economic and financial environment takes TGM back into Romania. However the “Going East” strategy is more than an answer to the current challenges, it is a new way of keeping and strengthening our leadership. By recognizing the genuine business opportunities and listening to the market calls, we are ready and able to take the lead in this region. Together with Atrium Center, we intend to strongly contribute to the interests of the local community.”
TGM will use this momentum as a springboard to take on more mandates in Romania, focusing on the capital city, Bucharest, and the coastal regions.
Mr. Michael Israeli, Atrium Centers noticed: Atrium Centers started the development of Atrium Center Arad in October 2006. We have passed difficult, turbulent times during the development period, but succeeded to complete the project successfully and open it in March 2010, despite the financial crisis. We are proud to see the project stabilizing and growing, taking its place as the leading central shopping mall in the city of Arad. We are confident that TGM will contribute a lot to this center, and will ensure the continuation of its growth and strengthening.
Source: Trigranit Management
