“Romania is a key market to us. We are constantly looking at various investment opportunities and are interested to develop office or retail schemes in Bucharest.”
The biggest investment of S Immo is the Sun Plaza mall where it will complete the third phase of expansion this March. The shopping center had more than 14 million visitors last year, up from 13.8 million in 2016, which is why S Immo was willing to invest EUR30 million in expansion.
The new second phase stores operate on two levels of the shopping center and include Lego and Forever 21, which have their biggest stores in Romania there, Men’s Cave (its first shopping center store), while several other brands are due to arrive in Sun Plaza (LC Waikiki, Pepco, NYX, Pandora, MAC, Sabon and Melkior). There are also cafés (Gloria Jean’s) and services space.
Sun Plaza had its third year of 100% occupancy in a row in 2017 and more than 90% of the space to be inaugurated in 2018 has already been pre-let. The reconfiguration of the mall will translate into adding 11,000 square meters of retail and leisure space, and the remodeling of 9,000 square meters of already existing space.
(English version by Loredana Fratila-Cristescu)