ARTICLES LABELLED WITH TAG shopping

December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers in shopping centres and preferring apparel rather than electronic goods relative to other Europeans. The season’s celebrations are a recurring highlight each year for the office segment as well, as both landlords and tenants invest in promoting the holiday spirit.

Developer Nova Imobiliare has started the construction works for Colosseum Mall as part of the expansion plan for its Colosseum shopping centre. The construction of the mall will be carried out by Axa Trans Construct, designated as the general contractor following a selection process.

Portuguese group Sonae Sierra announced that it purchased the 50% stake held by its former Joint Venture partner Caelum Development in Bucharest’s ParkLake shopping centre with the intention of consolidating its presence in Romania.

MAS Real Estate, through a subsidiary, has acquired the Atrium Mall Shopping Centre in Arad, Romania from Cosmovia Holdings Limited, a member of the Demján Group based in Hungary.

Polish sportswear retailer, 50 Style, opened in October its first store in Romania, in Bucharest’s Iris Shopping Center, Titan area, on a surface of 315 sqm. Its entry on the local market confirms the real estate consultancy company’s, Colliers International Romania's, view of the Polish brands’ goal to expand in the Eastern European region, especially in Romania, where consumption has steadily increased in recent years.

Futureal Group has exited its €19 million mezzanine financing provided to Caelum Development for the development of ParkLake shopping centre in Bucharest, Romania. The 70,000 sqm GLA project was developed by a joint venture between Sonae Sierra and Caelum Development. Futureal Group will intensify its activity in Romania through its residential investments subsidiary, Cordia. The company has recently announced a €50 million worth of investment plan in Bucharest for the next year, part of a long-term roadmap for the local market. Cordia division plans to deliver about 500 apartments per year, designed for medium and medium high segments.

CPI Property Group unveiled its new plans and projects at MAPIC. The Group plans to refurbish the Campona shopping centre in Budapest, extend Královo Pole in Brno and Olympia in Pilsen and remodel the food court in the Ogrody shopping centre in Elblag, Poland.

Futureal Group celebrated the launch of its €300 million Etele Plaza’s construction with a foundation stone laying ceremony. Buda's biggest shopping centre is a key element of the group’s property development projects s in Budapest’s 11th district.

Ceetrus Romania is investing €10 million in the expansion of its shopping mall in Satu Mare, Romania. The new commercial space will be completed in Q3 2019, the company said in a press release.

The growth in new European shopping centre space has started to slow, as mature European markets begin to reach the peak of space required, according to the latest research from Cushman & Wakefield.