The first phase, comprising retail spaces, will be completed on December 6, 2018, when 4,200 square meters of retail space will be officially inaugurated, among which Penny Market, a hypermarket held by German group Rewe, already opened two years ago, German fashion retailer Kik, which will open its first store in Bucharest sometime in 2019, PEPCO, JYSK and DM (Drogerie Markt).
Real estate consulting firm CBRE is in charge with the lease of retail spaces for this project.
Bucur SA wants the second development phase of the project to focus on the agri-food segment and the third phase to focus on the residential segment. The Bucur Retail Park is due for completion in 2022.
Stefan Paraschiv, General Manager of Bucur S.A., said the opening of Bucur Retail Park is a major achievement, a project on which we have been working for nearly two years, alongside our collaborators.
The Bucur Retail Park compound is developed by Romanian company Bucur S.A., established in 1946 and previously known as ICRA Bucuresti.
Regional investment fund SIF Muntenia is majority shareholder of Bucur SA, with a 68% stake.