Catinvest finalizes first expansion phase of TOM Constanta
The French real estate group Catinvest announced the successful implementation of TOM Constanta’s first phase of its extension plan, as part of the company’s strategy to strengthen its position in the South-East region of Romania. The commercial center has been expanded with an additional capacity of 3,500 sqm, through an investment of about €3 million.
As a result, the furniture retailers JYSK and Lem’s are moving in larger dedicated spaces, which will offer better experiences to the customers, and several other retailers will soon open spaces in the commercial center.
JYSK Romania, part of the Scandinavian retail chain JYSK Nordic selling household goods such as mattresses, furniture and interior décor, has reopened the store from TOM commercial center last month, in a new space of 1,500 sqm, about 20 percent larger than the previous store. The new space is also based on a new concept, Store 3.0, with a modern, welcoming and friendly design, which recreates interior areas, such as dining and living rooms.
The Romanian furniture producer Lem’s, also present in TOM commercial center, will soon open its new bigger store in a dedicated space of 2,000 sqm.
"TOM Constanta’s expansion represents an important investment that will consolidate our role as one of the most important real estate groups from Romania. The commercial center is located only 5 minutes away by car from the dynamic city center and in the newest residential area of Constanta, as 6,000 apartments are being built right next to TOM, a position that brings us a big advantage. This extension comes after another big investment of almost €2 million, for TOM Carrefour modernization, finalised in 2017, and investments will continue in the future. All these projects demonstrate our commitment to better serve our clients’ needs and strengthen our position on this segment in the South-East region of the country,” said Jibril Semour, General Director of Catinvest Eastern Europe, headquartered in Bucharest.
As part of its strategic plans to continue TOM Constanta’s expansion in the following years, the French real estate group recently acquired a surface of 2,5 hectares of land which will ensure a further increase the gross leasable area (GLA) of the commercial center by 40,000 sqm of retail and offices spaces, in a second phase of the extension plans.
TOM commercial center opened in 2006, with a total GLA of 48,000 sqm (including Carrefour, Brico Depot, Decathlon, Jysk, Lem’s). After the first phase of the extension, the total GLA reached 51,500 sqm. With over 85 stores and a 100 percent occupancy rate, TOM Constanta is recording approximately 5.5 million visitors per year.