Dan Ostahie, the chairman of the Altex group believes it is time to move to larger sales areas, even though the market is declining. The Altex group, the largest electronics, home appliances and IT&C retailer, announced it would open a 5,000 square metre Media Galaxy inside Unirea Shopping Center this summer. "Such a project could not be located anywhere else but in Bucharest, and of all the locations in Bucharest, the only location we believed allows for such space was Unirea, which has a very high volume of traffic," Ostahie explains. The investment involved in this project located in the Calarasi wing, in close proximity to the multi-level car park, could reach 2 million euros, Ostahie says. The store in the Unirea area is a first for the domestic market, as it is the first electronics, home appliances and IT&C store that takes up so much space. "The current moment can be compared with the start of 2004 when we launched the large surface area format Media Galaxy. The market was experiencing a decline at that time, too (because of the introduction of more restrictive lending norms for consumer credits by the National Bank of Romania)." Ostahie says his target is made up of the consumers from the middle class, "which is on the rise". The Media Galaxy store in the Unirea Shopping Center will be located in the area with the heaviest pedestrian traffic (about 300,000 people are passing by the Unirea Shopping Center every day, according to certain surveys) unlike the malls, Bucuresti Mall and Plaza Romania, where customers usually come by car, as they are part of the above-average income category.
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