July 23, 2019

Colosseum Centre secures funding from Credit Europe Bank

Colosseum Centre secures funding from Credit Europe Bank

Colosseum Centre in Bucharest has secured with Credit Europe Bank the funding required to develop the current stage of expansion, that is the shopping mall, with fashion, leisure and food brands. JLL România has advised the developer in obtaining the funding.

The loan from Credit Europe Bank worth €23 million, while the total investment in the shopping mall will reach €30 million.

“Our project enters now the final straight to completion. We are glad to have beside us partners such us Credit Europe Bank and JLL Romania, which allows the fulfillment of our business goals," said Mihai Dinu, General Manager of Colosseum Mall.

“We are committed to supporting retail development and to be part of this project that will boost the retail offer in the North-West area of Bucharest, creating diverse opportunities for the residents of the area and around the vicinity. For us at Credit Europe Bank Romania, providing finance for retail developments contributes to the socio-economic wellbeing of the community and responds to the large market potential of Bucharest which continues to attract construction investment," said Yakup Çil, CEO of Credit Europe Bank Romania. 

As a result of the current expansion, Colosseum will have 54,500 sqm GLA of retail space in total, and will become the largest in retail scheme in the north-west of Bucharest.

The leasing progress is well advanced with over 80 percent of the retail units now signed or committed to tenants. These new tenants include CCC, New Yorker, Colin’s, Diverta, Noriel, DM Drogerie Markt, Happy Cinema, World Class, Gregory’s, Café Ritazza, and many others to be announced.

They will be joining the already present retailers in the centre, which has been open since 2011, such as: Carrefour hypermarket, Leroy Merlin DIY, Altex, JYSK, LC Waikiki, Sport Vision, Pepco and many others.

The expansion works of the shopping mall began in December 2018 and will be ready for opening in 2020.

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