“We launched the official auction for the designation of the general entrepreneur and we have 11 companies that showed interest and from which we expect bids. We hope to start construction works by late May-early June. Works are estimated to take 12 months,” Andrei Pogonaru, the son of Florin Pogonaru, in charge with the project’s development, told ZF.
Land clearing and excavation works are carried out by Apolodor and the list of potential builders includes companies accustomed to such projects, says Andrei Pogonaru, without giving any names.
Veranda mall will have a 25,000-sqm rentable area and a built area of 67,000 square meters and construction costs are put at around EUR27 million (EUR400/built square meter). Total investments are estimated at some EUR63 million.
“We will start construction works from own funds and after the builder is designated we will also sign a bank funding contract whose conditions have been largely agreed upon,” stated Pogonaru.
Investors expect annual income of EUR6.7-6.9 million from fixed rents.
“We have contracts signed for 72% of the project’s rentable area and agreements for another 20% of spaces. Beside Carrefour, companies that signed rental contracts also include H&M, Domo or MaxBet,” specified Andrei Pogonaru.
Developed on the land plot of former Prodplast plant, which was moved to the industrial area of eastern Bucharest, Veranda project is located between Kaufland Colentina store and Piata Obor, two major commercial destinations in Bucharest.
(English version by Catalina Apostoiu)