The project has a lettable area of 7,800 square meters, valuing one square meter of the mall at EUR320. Its occupancy rate is around 70%, with the owners also having trouble collecting rent from existing tenants. One of the few major tenants of the project is home appliances retailer Domo.
Carpathian also holds stakes in Romanian-based companies that own two plots in Satu Mare and Baia Mare, where it planned to build malls. All assets are in the process of being sold.
“The Macromall Centre continues to struggle with high vacancy (30%) and poor rent collection (77%),” Carpathian said in a financial report.
The real estate assets retained by the group, the Babilonas shopping center in Lithuania and the MacroMall project, as well as the plots in Baia Mare and Satu Mare are in varying stages of the sales process, according to the same report.
(English version by Daniela Stoican)