Romanian construction firm Synergy Construct will open in September a new retail park in northern Bucharest, next to highway A3, following an investment of €15 million.
Lemon Retail Park will have a leasable area of around 7,700 sqm and has a mix of tenants that includes domestic and foreign retailers and service providers.
“Our strategy is to enrich our portfolio with similar developments, connected with residential projects to which we add value,” said Liviu Suvac, Chief Business Officer Synergy Construct.
CBRE was the project consultant of the retail park. The concept of small or medium-sized retail parks, developed in the proximity of a residential area, is increasingly present in the local market and has shown to be the most successful format in the industry. Retail parks are the most popular concept for developers in 2022, with more than 89% of the 147,000 sqm of new retail stock announced for this year under this format, according to CBRE.
