Bucharest, March 23rd 2017
Real estate developer Element Development announces that has started construction works for Bistrita Retail Park.
The project involves an investment of 7.5 million EUR for a 9,000-sq. m. shopping gallery that will be built on 13 Moldovei Road, just near the old City Center. The offer of the shopping gallery will be completed by a hypermarket, the investment belonging to Selgros.
CBRE is the exclusive agent that will handle the project’s leasing process, while Vitalis Consulting was assigned as “Project Manager” for the construction of this project.
Element Development has started actions to authorize the company’s second project, in Targoviste, on Arsenalului Street, just two minutes from Mitropoliei Park and House of Culture.
We have the best location for a retail park in Targoviste, the property being located in the city center, near Kaufland and Penny. We are under negotiations with a couple of tenants for pre-lease agreements and this fact encouraged us to start obtaining necessary permits for the project, our intention being to start the construction by year-end,
said Ionut Bordei, CEO, Element Development.
Targoviste Retail Park, a project of 11,000 built sq. m. will comprise of a shopping gallery (with a mix of fashion, beauty, footwear, electronics & appliances brands) anchored by a hypermarket. The estimated investment for this project is 9 million EUR.