Nova Imobiliare British company has started construction worksfor the retail park of Colosseum project of Chitila, nearBucharest, after several delays. The project was announced on themarket in 2007.
The first stores to be launched will be Leroy Merlin and Carrefour,scheduled for opening in 2011, and the two retailers' investmentscan be valued at over 40m euros.
Leroy Merlin DIY retailer, owned by Adeo French group, is at itsfirst store opening in Romania. In its turn, Carrefour is likely toopen the 24th store of its domestic hypermarket network, afterhaving put strong brakes on expansion on this market segment in thepast year and a half.
"The late date by which we got all the licenses and permits fromthe City Hall to start construction works was the biggest hurdle.The first stage of the project will probably be completed nextyear," stated Răzvan Voncu, Colosseum's spokesman.
The Chitila shopping area, set to include a mall in the seconddevelopment stage, involves total investments worth 350m euros,according to company data. The developer signed the constructioncontract with Bouygues French company.
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