Real estate developer Primavera Development has obtained the approval from Sibiu City Hall for the construction of Festival Centrum shopping center on the plot of the former Simerom factory.
The project was initiated in 2008, but its construction had been put on hold due to difficult economic times. According to local media reports, the new shopping mall is scheduled to be completed in 2019.
Festival Centrum will have a gross leasable area of 42,000 sqm, housing 160 retail units. The new shopping center will be anchored by a Kaufland hypermarket.
Its construction will significantly increase the supply of modern retail space in Sibiu, which currently houses one more shopping center complex, Shopping City Sibiu, owned by New Europe Property Investments (NEPI).