AFI Europe Romania CEO David Hay said the company maintains its plans to build the retail park in Arad, which is located in the city center, across the street from another shopping mall, Atrium.
According to information on AFI Europe’s website, the retail project in Arad will be developed on a plot of 8 ha and it will include a hypermarket of 10,000 sqm, a DIY of 10,000 sqm, a shops gallery of 6,000 sqm and additional standalone retail boxes of 1,000 – 2,000 sqm each.
The built-up area will total 34,000 sqm, of which 32,000 sqm of leasable area.
The developer bought the land in 2008, when an old furniture factory in the city was demolished. Seven years ago, when works were supposed to start, the developer announced it was going to invest EUR113 million in the project.