Friday, May 29, 2020
Home News Retail News Austrian investor to develop shopping mall in Sibiu

Austrian investor to develop shopping mall in Sibiu

Austrian group Supernova, specialized in developing retail parks, took over CA Immo’s stake in a retail project in Sibiu, central Romania.

CA Immo and partner Oasis Development planned to develop this project on an 18-hectare plot purchased before the crisis in 2008-2009.

Supernova and Oasis Development will invest €15 million from their own resources in the project’s first stage, which includes a hypermarket and a shopping gallery stretching over 15,000 sqm, local Profit.ro reported. Later, a €30 million bank financing will be used for further expansion.

Oasis Development is controlled by local entrepreneurs Klaus Reisenauer and Kurt Wagner, who have invested over €80 million in their own real estate projects in Romania and €40 million in Germany. The two started by building hypermarkets for Kaufland and Plus (later bought by Lidl) in Romania. Supernova manages assets worth over €1 billion.

Most Popular

Echo Investment on a stable growth path

The commissioning of four housing projects and two office buildings, the sale of 399 apartments and the handing over 190 to clients,...

Panattoni implements new concepts of sustainable development

Panattoni, a market leader in industrial real estate in Europe, has introduced a new façade standard at its parks. The new façade...

Poland’s office markets hit the second-highest volume since records began

Global real estate services firm Cushman & Wakefield has summarised Q1 2020 on the Polish office market. In Q1 2020, the total...

Colliers International provides a simplified guide to the current travel and visitor status around the CEE region

With COVID-19 cases appearing to be peaking and tailing-off, many countries have announced phased plans to ‘exit from lockdown’.  As a result,...