Raiffeisen Evolution opens Promenada mall in Bucharest

Developer Raiffeisen Evolution has announced that 45,000 people attended the opening of the Promenada shopping centre in Bucharest on 17 October.

'From the start, this retail project had proven to be a success, despite the difficult market situation. Some 70% of the space was let to prestigious international retailers within a few months,' said Markus Neurauter, managing director at Raiffeisen Evolution.

Bucharest's newest shopping centre features tenants such as Peek & Cloppenburg, BILLA, Hervis, H&M, Hunanic, Depot 96, Adidas, C&A, and Tommy Hilfiger.

A 40,000 m2 property was purchased in 2005 for the development of the shopping centre, but the project was put on ice when the global real estate crisis started and affected Romania.

The project featured three elements: the 137-metre SkyTower, a smaller 'Blue Office Building' (FCC Office) and Promenada. Construction of the SkyTower started in 2008, resumed after a short break in 2010 and was completed in early 2013. SkyTower and FCC Office were sold to the Raiffeisen Property.

Promenada was completed after a construction period of two years.