News Article Indotek Group Plaza M retail Romania Zsolt Kertai
by Property Forum | Retail

Indotek Group has completed a large-scale revamping of its Plaza M retail project in Târgu Mureș. The company has invested €16 million in the renovation of the shopping complex prevously branded as Promenada Mall.

Following the investment, the mall's leasable area was expanded by around 10% to 55,000 sqm. Plaza M currently hosts 90 stores and has an occupancy rate of 92%.

”Our strategy focuses on revitalizing and expanding existing buildings instead of building new ones. The comprehensive redevelopment of Plaza M reflects our consistent approach in Italy, Spain and Hungary, demonstrating our commitment to enhancing value through modernisation and redevelopment. This also underscores our commitment to sustainability and the communities we serve," said Zsolt Kertai, Head of International Reatail at Indotek.

As part of the investment, the group will install photovoltaic panels with a combined capacity of 1MW on the roof of the shopping mall.

Indotek’s Romanian portfolio has a total value of over €150 million.