French real estate developer Immochan has this month announced plans to construct three new shopping centres in the Romanian cities of Craiova, Sibiu and Bucharest.
According to its representatives, Immochan is committed to supporting urban development in Romania by investing in projects that improve the daily lives of local communities.
“We strive to become one of the major players in Romania’s urban development in collaboration with local and central government,” said Tatian Diaconu, CEO of Immochan Romania.
This year, the French real estate giant celebrated five years of doing business on the Romanian market. Over the period, the company has positioned itself as the market leader and currently has a portfolio of 23 shopping centres.
In 2017, Immochan plans to invest €10 million in the modernization of five shopping centres in Romania, occupying a total of 30,000 sqm.
With nearly 400 shopping centres in 12 countries, Immochan represents one of the leading commercial real estate companies in Europe. The company is the real estate arm of Auchan, one of the world’s leading retailers, present in 16 markets across Western, Central and Eastern Europe, Asia and Africa.