Liebrecht & wooD Group, a European real estate company operating in Romania since 2001, has recently celebrated the ribbon cutting of the new A2 highway exit located 15 kilometres from Bucharest city centre. The solution – fully financed by the developer – provides the residents of Cernica, Fundeni and the whole Calarasi area with comfortable access to the highway, as well as broadens the possibilities for further expansion and economic growth of the suburban areas of Bucharest. With €200 million invested so far in Romania, Liebrecht & wooD is now on its way towards developing a new landmark retail destination – Cernica Park.
The 4 kilometre road has been constructed by Liebrecht & wooD Group in cooperation with the local authorities of Cernica and Fundeni part of Calarasi County, and the relevant regulatory authorities, including National Company of Motorways and National Roads (CNADNR), Bucharest Region Directorate of Roads and Bridges (DRDP), Romanian Waters National Administration (ANAR), and Water Management System (SGA). Thanks to the road’s completion, inhabitants of surrounding locations can now enjoy a 30 minute reduction in their travel time to the city centre. In the future, the road will also guarantee a smooth access to Cernica Park – a retail scheme with a total investment value of about €110 million.
“The road, valued at €5 million, is a perfect example of Liebrecht & wooD’s vision on comprehensive real estate development, created with careful consideration of the environment and the users to ensure harmonious integration of all. We are delighted that local authorities share this idea. The dedicated traffic solution constitutes the first stage of development of Cernica Park – an extraordinary place on the retail map of Romania and a significant spot on the European map of Liebrecht & wooD Group’s properties,” said Patrick Van Den Bossche, Managing Director of Liebrecht & wooD Group.
Cernica Park will not be just a shopping centre, but also a visionary, large-scale investment stimulating economic growth and creating job opportunities in the area. It has all prerequisites to become an ideal and easily accessible place for frequent shopping and recreation for residents of surrounding towns, including Bucharest and even Constanța, serving over 3 million people within a 90 minute drive.
“We are delighted to inaugurate the new road which provides local commuters with easier everyday access to their households, work places, schools and other facilities. It’s been a privilege for us to be a part of this project and we hope that this is the beginning of a long-term collaboration. The partnership with Liebrecht & wooD reinforces the growth potential of the location and offers the residents a pronounced variety of opportunities in the near future,” said Gheorghiță Cărtușanu, Mayor of Fundeni.
Cernica Park is to be developed on a 34 ha site, part of a 60 ha plot owned by Liebrecht & wooD Group, and combines a mix of retail functions, including a FASHION HOUSE Outlet Centre, a hypermarket, a traditional shopping gallery, DIY and furniture stores, a sporting goods store and many others. The project will offer a total of 88,000 sqm of retail space extendable to 100,000 sqm with over 3,500 parking places, designed with great attention to the quality of architecture, landscaping and greenery. The project is scheduled to be started up in 2016.