News Article Auchan CEC Bank family market Iasi Iulius Oana Diaconescu retail Romania
by Property Forum | Retail

Romanian developer Iulius says that retail operator Auchan will have anchor supermarkets in the Family Markets projects developed near Iași.

Family Market is a smaller scale retail format, customized to growing residential areas, located near large cities. The first projects of this kind will open next year in Bucium and Miroslava localities.

“Auchan Romania has been a long-standing partner in our projects for many years now (in Palas Iași, Iulius Town Timișoara, Iulius Mall Cluj, and Iulius Mall Suceava) and we are glad they will also join us in the new Family Market projects. The strategy of providing essential facilities to the communities developing in satellite-areas of cities coincides with the vision of Auchan, a retailer that is very well integrated in the life of Romanians,” said Oana Diaconescu, Iulius’ Head of Leasing.

Auchan’s supermarket in Family Market Bucium will span around 2,500 sqm, and the one in Miroslava will cover more than 2,200 sqm.

Iulius is investing €17 million in the new concept and secured financing from Romanian state-owned lender CEC Bank for the development of the projects.

Auchan Romania has 33 hypermarkets in its portfolio, a network of 109 convenience stores and five supermarkets.