Green retail park set for southeast Bucharest

Romania’s first green retail park is set to break ground later this year in Bucharest’s Blvd Theodor Pallady in a project developed by Holland’s Cascade Group and developer Avrig 35.

“We are signing up the last anchor tenants and want to break ground this year,” says Alex van Breemen, managing director of the Cascade Group.

The project will include a gallery of 20,000 sqm, plus a hypermarket, sports retailer, furniture store and DIY retailer. Van Breemen says the project should be complete by the beginning of 2013 with a total gross lettable space of 70,000 sqm. The construction will also aim to employ sustainable development principles which conform to the British green building certification system BREEAM.

The current competition at the location includes hypermarket Real, cash & carry store Metro and DIY store Obi.
Nearby the local press has reported that Swedish retailer Ikea is also in negotiations to open a new retailer on the same street near the Real outlet - its second in Romania.

The Blvd Theodor Pallady retail park is part of a potential 750 million Euro mixed-use project by Cascade and Avrig 35. This includes apartments and offices over a 30 hectare plot, which was originally slated to begin construction in the beginning of 2008.

Newsalert delivered by Mirzon Group / Mirzon Investments/ Mirzon Groep / Mirzon Grup / Grupul Mirzon

Source: The Diplomat