OTP Bank announced that it is granting a loan of approximately €9 million to Oasis Retail Development & Consulting, for the construction of the Prima Shops Sibiu retail park.
The first stage of development of the retail park will have a rentable commercial space of 9,000 sqm, distributed in 11 retail units, and the financing granted by OTP Bank represents 75% of the total investment. The handing over of the spaces to the future tenants will be in August 2021, and the opening to the public will take place in October 2021.
"We currently carry out financing in different sectors of activity, from production to agribusiness and entrepreneurial businesses, but as a volume of activity, local retail is one of the winning sectors of the pandemic period. It is a developing field, and the concept of the commercial gallery that Oasis Group has under construction in Sibiu has proved its resilience during the restrictions through a high attractiveness for consumers ", said Dragoș Mirică, Deputy General Manager, Corporations Division, OTP Bank Romania.
The first shops in Sibiu will have as anchors the retailers Hornbach, Kaufland, a store of toys and household products, and two furniture stores, which will be completed by the end of 2022.
"With a degree of pre-lease of over 80% of the spaces reached before the start of construction works, we also enjoy the trust of the tenants. We believe that it is a clear proof of the power and resilience of retail parks and the continuing attractiveness of this retail concept for financiers, traders, and buyers alike, "said Klaus Reisenauer, partner at Oasis Group.
In the next phase of development, several retail stores will be built, which complete the mix of existing ones, as well as service spaces and several restaurants. The entire Prima Shopping Center Sibiu project will have a total area of 60,000 sqm and will be one of the largest retail park projects in the west of the country.
