Colosseum Centre has secured €23m financing from Credit Europe Bank for the further expansion of its retail destination located in North-West Bucharest, Romania.
As a result of the current expansion, Colosseum centre will have in total 54,500 sq m GLA of retail space, becoming the second largest retail scheme in the area. The leasing progress is well advanced with over 80% of the retail units now signed or committed to tenants.
These new tenants include CCC, New Yorker, Colin’s, Diverta, Noriel, DM Drogerie Markt, Happy Cinema, World Class, Gregory’s, Café Ritazza, and many others to be announced. The expansion works of the shopping mall began in December 2018 and will be ready for opening in 2020.
“Our project enters now the final straight to completion. We are glad to have beside us partners such us Credit Europe Bank and JLL Romania, which allows the fulfilment of our business goals”, said Mihai Dinu, General Manager of Colosseum Mall.
“We are committed to supporting retail development and to be part of this project that will boost the retail offer in the North-West area of Bucharest, creating diverse opportunities for the residents of the area and around the vicinity. For us at Credit Europe Bank Romania, providing finance for retail developments contributes to the socio-economic wellbeing of the community and responds to the large market potential of Bucharest which continues to attract construction investments,” said Yakup Cil, CEO of Credit Europe Bank Romania.
RPA Perspective Separately, after the successful operation of seven retail parks and neighbourhood centres in Croatia, where it has been present for more than a decade, the London-based property investor, developer and asset manager Poseidon Group is continuing to expand and strengthen its Capitol Park network throughout the country. By the end of 2020, Poseidon will be running eleven Capitols nationwide.
Capitol Park Kutina, opening in October 2019, will see the reconstruction of a previous Super Konzum building near the city centre to become a new shopping destination for the more than 13,000 residents of Kutina.
The 2,000 sq m centre will introduce four international brands, most opening their stores for the very first time in the city – namely Pepco, TEDi, Deichmann and Bipa. Capitol Park Kutina will be a new destination for shopping and provide 50 new jobs for the local community upon opening.
Poseidon Group director James Gunn said the value that Capitol Park brings to the community. “We value the family shopping experience and adjust our tenant mix and leisure activities to create an ideal shopping destination for all generations. Under our Capitol Park and Shopping Capitol brands, Poseidon Group is a recognised high-quality regional retail leader, and we are happy to continue our growth in Croatia and build new possibilities in the retail sector through this year and next.”
