So far two major investors, AFI Europe and Immofinanz have announced such plans, where they will compete with the Coresi shopping center developed by Immochan, which has been in business for two years.
“We’ve started the process to secure the necessary permits for the construction of our future projects Stop Shop in Brasov. We estimate construction work will be completed this year,” says Sorin Visoianu, country manager operations for Romania of real estate investment company Immofinanz.
“The new retail park will be located on the former site of IUS Brasov and will be the first Stop Shop developed by Immofinanz.”
Also in Brasov, AFI Europe Romania completed the acquisition of a 40,000 square meter plot of land in the city’s business center, the former Hidromecanica site, early last year. The company is already building a retail and class A office space complex (AFI Palace Brasov and AFI Park Brasov) to be delivered in two phases.
Brasov already has a large shopping center on the former site of Tractorul plant, which Immochan, the real estate arm of French Auchan group, inaugurated in March 2015.
(English version by Loredana Fratila-Cristescu)