BREC REGIONAL CITIES: New retail parks across Romania by Square7

BREC REGIONAL CITIES: New retail parks across Romania by Square7

BREC REGIONAL CITIES: New retail parks across Romania by Square7 988 600 BUCHAREST REAL ESTATE CLUB

Retail parks, a format favored by the social distancing period and by the sanitary restrictions, attracted numerous investments in 2021 and will continue so in 2022 as well. 

Square 7 Properties has an experience of 14 years on the Romanian market, with a strong and professional team that stands out through its services. As Country Partner for Romania of Mitiska REIM, Square 7 Properties is co-owning and managing a portfolio of 25+ retail parks. Square 7 Properties also acts as co-investor, developer and manager of all retail developments undertaken by Mitiska REIM in Romania.  

The two developers have inaugurated in Q4 2021 Baia Mare Shopping Park, a retail scheme that attracted brands such as Lidl, Altex, DM, Jysk, Kik, Numero Uno, Pepco, Sinsay, Sportisimo, Superzoo and Xpress. 

The longstanding advantages of the shopping park proposition based on convenience, essential shopping and value for money has attracted the clients in this more convenient way of doing shopping, says Clemens Petschnikar , CEO of Square 7 Properties.

Another project launched last year was the expansion of the retail park in Medias – “Medias Shopping” by inaugurating a new leasable area of 8.000 sqm. Thus, Medias Shopping Park reached a total commercial area of 16.400 sqm. The opening of the new project, placed on Soseaua Sibiului 75, took place on October 28 and included new brands such as Altex, Hervis, Kik, CCC, Xpress C&A, Noriel, New Yorker, Sinsay and Super Zoo. These are in addition to existing brands such as Kaufland, Deichmann, Takko, Pepco, Flanco, DM and Jysk, respectively.

In 2022, the specific investments are the extension of their shopping parks in Slatina and Tulcea and the development of another two parks in Pitesti and Giurgiu, adding to their existing portfolio an additional commercial area of 36.000 sqm. 

Find out more about the real estate dynamics across the regional cities of Romania: Download BREC REGIONAL CITIES Report