Immochan, the real estate division of France’s Auchan, announced in March that it plans to start works on a residential area, together with a local developer, around March 2015 as well.
The next stage of the project will be a residential area for which Immochan is negotiating with the developer of the Avandargen 2 residential compound in Brasov, Daniela Kaspar, involved in the construction of several residential areas in Brasov and Cluj.
Immochan bought a 100-hectare plot of land off the former industrial platform Tractorul Brasov in 2012 and the development of its project is set to take 15 years.
The company has allotted 36 hectares of land for the residential project.
The tenants of the shopping center include Inditex, H&M, New Yorker, Koton, Waikiki.
Three other large retail project have been announced for Brasov, one in the southern part of the city, owned by NEPI, Korona, developed by Poland’s Echo Investments, and one in the city center announced by France’s Cora. None of these projects has been started so far.