ARTICLES LABELLED WITH TAG retail

Yovav Carmi, President of Management Board and Ariel Ferstman, CFO of GTC have talked to Property Forum about the latest financial results of the company, coping with the effects of the pandemic in the commercial real estate sector and the new directions of company activities.

Romanian developer One United Properties says it will take over a majority stake in Bucur Obor, a shopping centre based in Bucharest. 

The pandemic has spared no business, with its consequences most strongly felt by the retail sector, including tenants in shopping centres, retail parks and high streets. Global real estate services firm Cushman & Wakefield examines the situation of retail tenants in its latest report “Is Confidence Returning to the Retail Market?”. 

Real estate group Immofinanz says it has reopened over 10,000 sqm of leasable space in VIVO! Baia Mare and added new retailers as part of an investment of €7 million in overhauling the shopping centre.

The former EuroCenter shopping centre, currently being rebuilt by Wing, will be renamed GOBUDA Mall after the renovation. The building will re-open in the spring of 2022 according to plans.

Revetas Group says it has shifted its entire portfolio of assets in Romania to renewable energy, as a continuation of the company’ commitment to ESG practices. 

Property developer Prime Kapital says it has finished the demolition phase on a former industrial platform in Iași where it will kick off the construction of Silk District, a mixed-use scheme. 

French real estate group Catinvest will add 5,500 sqm retail space, 1,200 sqm for a shared open-air terrace for the food court and a new playground of 500 sqm in Electroputere Mall, located in Craiova. 

Shopping malls need to boost their leisure propositions, while retailers must enhance their omnichannel strategies, mentioned speakers during the retail panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest. 

Polish company Scallier will open its second retail park in Romania on November 11 as part of its expansion strategy on the local market.