Repaco Capital has started the construction of Crevedia Retail Park that will be completed in H2 2024 near Bucharest following an investment of €15 million. The project has a leasable area of 12,000 sqm and has already reached an occupancy rate of 80%.
The retail park in Crevedia is jointly developed by Repaco Capital and Weststar Real Estate, the real estate division of International Alexander Holding. The consultancy for the project is provided by CEE Estate.
The retail park will host the first Annabella supermarket near Bucharest as well as the first drive-in restaurant in Romania of fast-food chain Hesburger. Several fashion, beauty and furniture retailers are also part of the tenant mix.
Liviu Arnăutu, Partner and Board Member of GELD Capital Management, owner of Repaco Capital, points out that areas close to Bucharest have a high growth potential for retailers due to increasing consumer demand.
At the same time, Repaco Capital aims to complete a retail park in Timișoara by year-end, when its total retail portfolio should reach 27,000 sqm of leasable space.
