JLL has completed the first phase of the modernisation of the Liberty Center shopping centre in Bucharest, owned by three banks (Alpha Bank, Bank of Cyprus and Eurobank) following the insolvency of developer Mivan Kier. Occupancy rate at Liberty Center has reached 91%, following a €400,000 investment.
Located in Southern Bucharest, Liberty Center has been managed by JLL since 2017. The shopping centre offers 25,700 sqm of leasable space with over 60 stores. The largest Auchan supermarket in Romania, with an area of 3,600 sqm, recently opened in the shopping centre.
"We estimate that the mall will register a 30% growth in traffic, reaching 13,000-14,000 visitors per day, mainly due to the Auchan opening and to other changes in the centre. From the point of view of occupancy, our expectations are to reach 95% by the end of the year,” Mariana Stamate, Associate Director, Head of Property Management at JLL Romania said.
