In the cities of Ploiesti and Craiova
Sonae Sierra will develop two new
shopping and leisure centres in Romania
• First developments built from the greenfield by Sonae Sierra in Romania
• An investment of about €153,6 million (in Ploiesti) and €139,4 million (in
Craiova)
• Inaugurations scheduled for 2009 (Craiova) and 2010 (Ploiesti)
• Sonae Sierra already owns and manages River Plaza Mall, located in the city of
Ramnicu Valcea
Sonae Sierra has just acquired two sites in the Romanian cities of Ploiesti and Craiova,
where it will develop two new shopping and leisure centres, the first the company will
develop in Romania, for a total investment of more than €293 million.
Ploiesti, an excellent location
Built on a 16 hectares site, in the southern limit of the city of Ploiesti, the ninth most
populated in Romania, 60 kilometres north of Bucharest, the future centre has a privileged
location with more than 270,000 inhabitants in a 15 minute catchment area, and will
benefit from excellent access, namely through the new highway connecting Bucharest to
Ploiesti, currently under construction.
This innovative shopping and leisure centre will have a Gross Lettable Area (GLA) of
64,070 m2 and a parking lot for 3,200 vehicles, for a total investment of about €153.6
million, and will integrate a 100 hectares area which will be urbanized throughout the
next six years, and will include housing, office and service buildings, schools, sports
facilities, public gardens, among other equipments.
The development plan for this new Sonae Sierra venture projects the beginning of the
construction work in 2008, and the inauguration in 2010.
Craiova, a central project
In Craiova, Romania’s sixth largest city, located 240 kilometres west of Bucharest, the
new shopping and leisure centre will have a Gross Lettable Area (GLA) of 55.537 m2, a
parking lot for 1833 vehicles, and will represent an investment of €139,4 million.
To develop this project, Sonae Sierra has acquired a 6 hectare site with an excellent
location, five minutes away by car from the city centre, with 300,000 inhabitants in a 30
minute catchment area. The construction of the shopping centre is already under way,
and the inauguration will take place in the Fall of 2009. For this project, Sonae Sierra had
attorneys Nestor Nestor Diculescu Kingston Petersen (NNDKP) and Eurisko Real Estate
consultants.
Sonae Sierra reinforces this way its presence in the Romanian market, where it arrived last
May with the acquisition of River Plaza Mall, a shopping centre with 12,358 m2 of GLA,
located in the city of Ramnicu Valcea, in the south-western region of the country, which
had been inaugurated in November 2006.
Sonae Sierra, www.sonaesierra.com, is an international shopping centre specialist, with
a passion for bringing innovation and excitement to the shopping and leisure centre
industry. The Company owns 47 Shopping Centres and 1 Retail Park in Portugal, Spain,
Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of
more than 1,8 million m2. Currently, Sonae Sierra is developing 13 more projects in
Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total GLA of more
than 500.000 m2. In 2006, its centres welcomed more than 402 million visits.
Dennis Edwards: We seen the same approach in Portugal. When Portugal entered the European Union money poured into the country to improve the infrastructure. Roads were the first thing. At the same time football stadiums were being build and new shopping malls. Some of the money was a gift, some was loaned. In the end Portugal was unable to pay back the money and the freeways became toll roads. In the meantime, the new shopping malls robbed the traditional local economy of its clients and any local businesses went bankrupt and closed. I wrote an article at the time called the Rape of Portugal. We are seeing now the Rape of Romania. If you would like to read that former article, look here.http://fightforyourfaith.blogspot.co.uk/2014/02/the-rape-of-portugal.html
0 Comments:
Post a Comment