150m-euro mall in Bucureştii Noi: Cora and Cinema City first announced tenants
Autor:
Cristi Moga
29.11.2010
Vic City company, controlled by real estate developer CD Capital
Partners and Canadian businessman Michael Topolinski, will develop
a 150 million-euro mall - Victoria City Center - on Bucharest's
Bucureştii Noi Boulevard, for which it has recently signed rental
contracts with Cora hypermarket and with Cinema City cinema
operator.
In order to develop the mall, which will have a 60,000
square-metre lettable area, the two partners have recently had
their town planning (PUZ) approved, with works set to start next
year, and be finalised in the spring of 2013.
The mall will be located on a former industrial site - Textila Dacia, covering over 5.2 hectares, acquired in the 2007-2008 period.
"We had put the project on hold for two years and now that the market is improving, including positive GDP forecasted growth for 2011 and growing requests from tenants, we have started demolition and will begin construction in the fall of 2011," says Michael Topolinski, who also controls the Benevo apartment business in Romania.
Cora will open a 10,500 square-metre hypermarket in Victoria City Center, with Cinema City set to have an eight-screen multiplex cinema, with the rental of spaces being handled by real estate consultancy The Advisers Knight Frank.
The mall will be located on a former industrial site - Textila Dacia, covering over 5.2 hectares, acquired in the 2007-2008 period.
"We had put the project on hold for two years and now that the market is improving, including positive GDP forecasted growth for 2011 and growing requests from tenants, we have started demolition and will begin construction in the fall of 2011," says Michael Topolinski, who also controls the Benevo apartment business in Romania.
Cora will open a 10,500 square-metre hypermarket in Victoria City Center, with Cinema City set to have an eight-screen multiplex cinema, with the rental of spaces being handled by real estate consultancy The Advisers Knight Frank.