The French real estate group Catinvest announces the expansion by 9,200 sqm of its highly successful mall Electroputere Parc, as part of the company’s strategic plans to strengthen the commercial centre’s leadership position in Craiova and in the region. In addition, the group has also started the construction of a mix use independent building which will add 12,000 sqm of retail space, about 15,000 sqm of A Class offices and over 700 underground parking spaces. Total investment in the extension of the mall and in the development of the new mixed building will exceed 70 million euro by the end of 2018.
“Electroputere Parc is an extraordinary location, with huge development potential, as it is among the few, if not even the only retail centres in the country, excepting Bucharest, that is so well positioned, within the city, offering people fast and easy access to a large shopping area. The expansion and development of the spaces are, therefore, a natural step, part of Catinvest’s broader strategy to expand the retail spaces in our portfolio in order to give people more shopping and entertainment options,” said Bertrand Catteau, President of Catinvest Group.
Construction works of the extension, which will add a gross leasable area of 9,200 sqm of stores, cinema and other entertainment areas to Electroputere Parc, are already well underway and opening is scheduled for Q1 2018. The extension will host fashion brands of the LPP group (Reserved, House, Sinsay, and Cropp), which will soon join existing brands such as Zara, H&M, LC Waikiki, Berska, Pull&Bear, C&A, Stradivarius, New Yorker, US Polo, Kenvelo, Orsay or Tom Tailor, making Electroputere Parc even more the undisputed fashion destination of Craiova and the Dolj region.
On the first floor, costumers of Electroputere Parc will be able to enjoy new restaurants with terraces, new shops, a multi purposes entertainment area (electronic and arcade games, billiard, bowling, sport bar, etc.) as well as the first all VIP multiplex cinema in Romania. The multiplex will count 7 halls, all equipped with electrical VIP recliner seats and with the latest technology (Christie 4K projectors, Vive sound system, 3D Harkness screens, etc.). With this new investment, Electroputere Parc will combine the best of shopping and the best of entertainment.
In addition to this extension, Catinvest has also started the construction of a mix use independent building. Located between the main parking of Electroputere Parc and Kaufland, this new construction will include a gross leasable area of 12,000 sqm of retail units (including KIKA, the furniture mega store), a gross leasable area of about 15,000 sqm of A Class offices on two upper levels and more than 700 underground parking spaces. In addition to bringing more parking spaces, more international brands and more reasons for clients to make Electroputere Parc their shopping destination, this mix use building will directly connect Kaufland supermarket to the existing retail area, creating a unified retail power zone with a gross leasable area of more than 110,000 sqm. The opening of Electroputere Parc mix use building is scheduled for S2 2018.
The two projects are designed and developed by Steven Van Den Bossche and Kris Carton and financed and owned by Catinvest.
The French real estate group Catinvest, which acquired Electroputere Parc mall in September 2016, is also the owner and manager of other shopping centres in Eastern Europe (Carrefour Orhideea and Cora Pantelimon in Bucharest, Carrefour TOM in Constanta, Auchan Savoya Park in Budapest, Tesco Borska Pole in Plzen). Catinvest is also active in France in residential and shopping centers activities. In total, Catinvest owns and manages more than 500,000 square meters in France and Eastern Europe.
The French real estate group Catinvest is present in the Romanian market since 2003, when it acquired the Orhideea shopping gallery and, shortly after, the Esplanada shopping gallery. The group currently owns four commercial centres in Romania – Orhideea and Esplanada in Bucharest, Carrefour TOM in Constanta and the Electroputere Parc in Craiova.
