Cluj-based entrepreneur Dorin Bob's company Studium Green has completed the sale of 157,000 sqm of land in Jilava, near Bucharest, to retail group Altex and furniture retailer Mömax, part of Austrian company XXXLutz. The land will be integrated into a larger plot owned by Altex to form the basis for the largest retail park in southern Bucharest. The total value of the transactions between Studium Green and both companies exceeds €17 million.
Studium Green remains part of the project to develop the future retail park, where it will develop HoReCa facilities. Additionally, across from the future park, Bob owns a 23,000 sqm plot for which complementary facilities are currently being analysed.
"We will create together, just seven kilometres from central Bucharest, a retail hub for the communities of Jilava, Măgurele and southern Bucharest. I'm pleased that our partners understood the importance of this area, located on the strategic north-south axis, allowing the development of a sustainable retail park equipped with modern technologies for energy generation and resource management. The park will also integrate medical and educational services, as well as cultural and entertainment facilities, including aquatic ones," said Bob.
The future retail park in Jilava will reach a total area of 200,000 sqm, making it the largest development of this type in southern Bucharest. Development will take place both on the land sold by Studium Green and on adjacent plots owned by Altex. Studium Green was assisted in the transaction with Altex by the legal teams at Reff & Associates | Deloitte Legal.
To ensure access to the future retail park, Studium Green has already built a roundabout on DN5 from its own resources. This contributes significantly to traffic flow in the area, with multiple diversions of arteries towards Bucharest. The complex project involved diverting 50 medium-voltage cables from under the road surface and developing a modern bus station, requiring approximately 1,250 tonnes of asphalt.
