Square 7 Properties expands Medias Shopping Park

Square 7 Properties, together with its strategic partner Mitiska REIM, a leading specialist investor of convenience real estate, has completed the expansion Medias Shopping Park by inaugurating a new leasable area of 8,000 sqm. The park now has a total commercial area of 16,400 sqm.

The new shopping mall will include new brands such as Altex, Hervis, Kik, CCC, Xpress C&A, Noriel, New Yorker, Sinsay and Super Zoo. These are in addition to existing brands such as Kaufland, Deichmann, Takko, Pepco, Flanco, DM and Jysk, respectively.

“Currently, retail parks are preferred by consumers in terms of accessibility, the advantages being food anchors, outdoor parking spaces and direct access to stores. Time is a valuable asset for customers, who are also oriented towards a good quality-price ratio, therefore focusing on shopping centres that offer comfort, experience and variety, all in one place, is the obvious choice. Moreover, there are dense residential areas nearby that will generate a large number of customers. There is an increased demand on the market from all our partners in different segments (fashion, appliances, home & deco) and there is a trend in recent years regarding expansion in cities where the commercial offer is not covered,” says Clemens Petschnikar, CEO of Square 7 Properties.

In 2022, Square 7 Properties and its partner, Mitiska REIM, plan to expand the existing retail parks in Slatina and Tulcea, as well as start the development of two new commercial parks in Pitesti and Giurgiu, with a total commercial area of 36,000 sqm.