28 January, 2012
On 13 December 2011, Real4You Group obtained the PUZ for its 70,000 sq m project in Bucharest, MegaMall, located on the site of the former Electroaparataj plant. The project is already around 20% leased. DTZ Echinox is co-exclusive leasing agent for the four MegaMall projects in Romania.
The issue of the PUZ for the land plot is an important milestone in the construction calendar of the project and a key element for the attainment of the building permit. Construction will start in the second half of 2012.
The recently signed tenants are located on the first underground level of MegaMall, occupying approximately 20% of the leased area of the shopping centre. The stores will benefit from easy access to the underground parking, with over 2,300 spaces, as well as a direct connection to the metro station which is planned to be built near the site.
“Winning the confidence of some of the most active and experienced retailers gives us great satisfaction. Their presence confirms the quality of the project and its location and has generated interest from numerous brands to join MegaMall Bucharest from an early stage and secure the best units. With the PUZ in place, we are optimistic and enthusiastic about future leases,” commented Razvan Sin, Head of the Retail Department DTZ Echinox.
MegaMall Bucharest is a 70,000 sq m mall to be developed at the junction of Iancului and Pantelimon roads, on the former industrial estate Electroaparataj. The scheme will benefit from a catchment area of over 1.2 million people and it is the first to address the shopping needs of people living on the Eastern side of Bucharest.
Real4You Group will also develop several shopping centres throughout Romania, in cities such as Satu Mare, Focsani and Targu Mures, all branded as MegaMall. These shopping centres will be between 18,000 sq m and 22,000 sq m and will be linked to a hypermarket or a supermarket. Outside the country, Real4You begins construction work on MegaMall Sofia in February 2012.
Real4You Group is an investment company in the real estate sector that was established in 1995 in Austria by Christian Rimpf and Klaus Riederer. Real4You's core area of activity is the planning and realisation of retail real estate properties. Real estate projects are mainly based in Hungary, the Czech Republic, and Slovakia. They successfully initiated activities in the Romanian and Bulgarian markets a few years ago. The company has been extremely active through the recent financial crisis, launching several new projects. In Romania, Real4You Group has built 21 MiniMax stores and three retail parks.
