Shopping and entertainment centre development Group Plaza Centers has acquired a 31,000 m[sup]2[/sup] site in Targu Mures, Romania - it’s seventh project in the country.
Shopping and entertainment centre development Group Plaza Centers has acquired a 31,000 m2 site in Targu Mures, Romania - it’s seventh project in the country.
The new acquisition brings Plaza’s total Romanian development to some 750,000 m2 of retail and leisure space.
The Targu Mures centre will have 32,000 m2 of rentable retail space, made up of more than 120 units. The site will also include 2,600 m2 of office space and 1,000 car parking spaces.
Cost of the development is put at EUR 75 mln. Construction is due to start in late 2008 with completion scheduled for the end of 2010.
Targu Mures is a city of 160,000, some 280 km north west of Bucharest. The new development is located near the city centre and close to main roads to neighbouring towns, with a total catchment area of 580,000, Plaza said.
‘We continue to see strong demand from both tenants and shoppers for this type of project in Romania and we continue to look for further opportunities in the area,’ CEP Ran Shtarkman said in a statement.
