August 08, 2016

Romanian investors develop first shopping mall in Sibiu

Romanian investors develop first shopping mall in Sibiu

Real estate developer Primavera Development will build a shopping centre in the centre of Sibiu, on the plot of the former Simerom plant. The investment in the mall will amount to €70 million.

The project is called Festival Shopping Center and will have a 44,000 sqm rentable area. Its inauguration is due to take place in the second part of 2018.

It is the first mall that will be opened in Sibiu, a city which attracted 325,000 tourists last year. Several international companies such as Continental, Siemens, Takata, Daimler, Wienerberger, and Faurecia have invested in Sibiu.

Primavera Development, which will develop the shopping centre, is controlled by local investors. They initially began the mall’s construction in 2008, but had to postpone it due to the economic crisis. Real estate consulting company DTZ has been appointed as exclusive agent for the leasing of the project.

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