The new rental contracts have increased the mall’s occupancy rate from 75% to 92%, Argo said in a statement Wednesday.
The activity of Era Shopping Park Oradea will not be affected by the insolvency of its owner, firm Omilos, the statement reads.
Argo said last week it filed a petition for the voluntary insolvency of its Romanian subsidiary Omilos Oradea following litigation with firm Constructii Bihor for debts worth EUR3.2 million.
Omilos Oradea has filed an insolvency request at the Bucharest Court last week. The request will be discusses on November 22.
Argo owns four shopping centers in Romania, with a total lettable area of 271,000 sqm, and is one of the largest shopping center owners in Romania.