According to Ingo Nissen, Sonae Sierra managing director in charge with development projects in Romania, the opening was postponed at the request of tenants, who said they don’t have enough time to get ready by April.
Last autumn, ParkLake Joint Venture signed a EUR83 million loan agreement with OTP Bank Hungary, OTP Bank Romania and Austrian bank Hypo NOE Gruppe Bank.
The shopping center, an investment of EUR180 million, will have a rentable area of 70,000 square meters and will host over 200 stores.
So far, the developers have managed to lease 95% of the mall which will host, among others, a Carrefour hypermarket and brands like Inditex, H&M, Maxitoys, Forever 21 and Maxbet. It will also have 23 restaurants and a multiplex cinema.
Carrefour will be co-owner of the land, as it decided to buy the land on which it will build its hypermarket.
Portuguese realtor Sonae Sierra owns more than 46 shopping centers in 14 countries, on four continents, whose value exceeds EUR6 billion.