Fabrica Industria Iutei worked with Colliers International Romania as real estate consultant in the deal.
Considering the location of the plot, Dedeman can build both a DIY store there, though smaller than its usual size, because there is no other DIY store in the area or an office space or residential project. It has yet to make a decision.
The zoning permit secured in 2008 for the site bordered by Progresului, Doina and Veseliei streets allowed for a mixed-use project containing office, residential and retail space three to thirty stories tall (up to 94 meters) and no more than two underground levels. That zoning permit has expired and a new one has not been issued yet.
The Industria Iutei plot is near a very well-developed area in terms of retail, with Vulcan Value Centre retail park, Liberty Center and Nasaud Shopping Center, as well as Kaufland and Lidl nearby. Office buildings in the area include Green Gate and the AFI Tech Park on Progresului Street, the first phase of which will be delivered next year.
(English version by Loredana Fratila-Cristescu)