OTP Bank Romania continues to support the local economy and has granted €8 million in financing to retail property investment company Scallier, for the construction of Funshop Park Turda.
The Funshop Park Turda retail project developed by Scallier will provide around 9,000 sqm of lettable commercial space built on a 24.000 sqm plot of land, and the resulting retail gallery will comprise about 18 store units and a minimum of 270 parking spaces. The new investment loan was granted by OTP Bank Romania, in the amount of €8 million.
OTP Bank Romania has also previously financed the development of the Funshop Park Focșani, inaugurated last year, the second retail project of Scallier in Romania after first developing the Roșiori de Vede project in 2021.
“With this interesting retail project, we now mark another stage in our local partnership with Scallier. It shows a sustainable business model adapted to the times, bringing safe and modern retail into active medium-sized towns such as Turda, and shows great care regarding its environmental impact on the community. The decisiveness of Scallier in developing a green standard retail park, together with the good positioning and international mix of tenants, has given us the opportunity to participate and support this project, and lay another brick in the local retail development,” said Gyula Fatér, CEO OTP Bank Romania.
“We appreciate the commitment of OTP Bank Romania to the development of our business. Cooperation with partners with such an established reputation obliges us to provide high-quality investment products that, apart from achieving the assumed business goals, also serve local communities. We are actively developing new projects and searching the Romanian market in the context of new investment opportunities, so we hope to continue cooperation in terms of other real estate developments,” says Wojciech Jurga, Managing Partner at Scallier.
OTP Bank is engaged in financing local companies, continues to support sustainable business models that adapt to changing conditions, and is a solid partner in financing green commercial real estate developments in Romania. Similar to all of Scallier’s development projects in Romania, the retail park in Turda will be certified according to the international BREEAM green rating standard.
Funshop Park Turda retail park will be put into service at the turn of the third and fourth quarters of 2022. At the moment there are no other modern retail venues in Turda, and along with the Kaufland store anchor, the new retail park is set to become the town’s unique landmark shopping mile. The international mix of tenants includes retailers such as Tedi, Hervis Sports, New Yorker, DM, Flanco, Animax, KIK and Noriel.
