“The second phase of the retail project will have a leasable area of 13,500 square meters, of which 7,500 sqm are already pre-leased by five tenants,” said Immochan general manager Tatian Diaconu.
Construction works on the second phase of the retail project will start in May. The developer originally planned to start construction in 2016 but will start earlier due to demand.
In 2016, Immochan plans to start construction of a residential area area of 2,000 apartments on a 22-ha land plot.
“In the next year we will invest approximately EUR12 million in the second phase of the retail area (EUR8 million, including land) and demolition, utilities and urban planning works on the land for the residential project (EUR4 million),” said Diaconu.
Coresi is developed on the former industrial platform of the Tractorul factory in Brasov, on a 100-ha land. Coresi Shopping Resort has an area of 45,000 sqm with an occupancy rate of 96% and entailed an investment of EUR60 million.
Immochan plans to attract 8 million visitors a year and reach 10 million in the following years. Rental revenues are estimated at around EUR6 million a year.