The new owner of shopping centre City Mall, Australian investment fund APN/UKA European Retail Trust, will rearrange the tenant mix of the mall and bring a new "anchor tenant" within the year. "Now we can say the shopping centre is a retail business, rather than a real estate property, as it had been initially for those who built it and for those who bought it," stated Lucian Cretu, general manager of City Mall. The shopping centre in the Eroii Revolutiei area was taken over at the end of last year by Australian investment fund APN/UKA European Retail Trust, for 103.5 million euros. As a long-term investor, the strategy of the Australian fund is to work closely with the already existing retailers in City Mall and to implement new projects. Currently, City Mall has an average of 16,000 visitors a day, which could increase by around 25-30% after the opening of its new car park, which will include 1,000 car parking spots.
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