Bucharest, May 25th 2017
Real estate developer, Element Development, has recently signed a contract with the Danish furniture & accessories retailer, JYSK, for a surface of 1,275 sq. m within Bistrita Retail Park.
With a total investment of 7.5 million EUR, the shopping gallery of 9,000 sq. m is to be built on 13, Calea Moldovei street, just minutes away from the old city center. The food anchor of the gallery is Selgros, the hypermarket following to be opened this autumn
The increase of the purchasing power together with the lack of modern retail spaces in the secondary cities determined a large demand for the retail park we are developing in Bistrita. Retailers are searching for extension options in the smaller cities and are particularly interested in retail parks, where their costs are smaller than in a shopping mall,
said Ionut Bordei, CEO, Element Development.
CBRE Romania, part of the largest real estate consultancy company worldwide, is the exclusive leasing agent, while Vitalis Consulting is the Project Manager, supervising the construction works.
