retail

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Urbano Shopping & Living – The biggest Commercial Park in Transylvania
Urbano Shopping & Living – The biggest Commercial Park in Transylvania 2560 1743 ROMANIA PROPERTY CLUB

A new Integrated Retail Destination & Family Entertainment Center in Cluj Metropolitan Area

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Urbano Group is investing 100 million EUR in a new major commercial real estate development, on a 25 hectares land in the heart of the Cluj Metropolitan Area.

The first phase of the Urbano Shopping & Living project (2024 – 2025) will integrate over 30 retailers and service providers, including a commercial galleria, a do-it-yourself retailer, a cash & carry hypermarket, a supermarket retailer and a unique fast food and drive-in hub.

The second phase (2026 – 2028) will bring in a unique concept for the Romanian market: an attractive mix of retail, community services and Family Entertainment Center offering various cultural, edutainment and leisure experiences, an indoor and outdoor sports area, office spaces, medical services, hospitality and events services and other community-oriented functions.

The developer targets BREEAM certification with a focus on green and sustainable solutions: energy efficiency and renewable energy production, green mobility, connection to the local transport system, bike tracks, environmentally friendly landscaping, eco-friendly water & waste management.

Urbano Shopping & Living is in the phase of design details, with the construction site expected to start in November 2024. The project will generate a major positive impact in the proximity area for the residents of Florești and Gilău and the west of the Cluj Metropolitan Area.

With direct access to DN1/E60 Cluj-Napoca – Oradea national road, the commercial park can also be accessed by metropolitan bus, with a dedicated bus station located on the premises. At 1.2 km there is the Gilău junction of the A3 Transylvania Motorway.

In the future, the project will benefit from direct access to Cluj Metropolitan Ring TR35 (2029), as well as to the Metropolitan Bike Track along the Someș River (2028).

TIMEFRAME

Phase 1: 2024 – 2025

Phase 2: 2026 – 2028

DEVELOPER & AGENT

Urbano Group acts as a major development integrator of premium properties projects in the following areas: logistic-industrial, residential, office and commercial. The group has been active since 2016 in the city of Cluj-Napoca and the Cluj Metropolitan region in Transylvania, Romania, focusing on bringing positive change to the communities and on the revitalization of urban and peri-urban areas.

Nhood Romania has been selected as the exclusive agent by the developer due to its expertise in areas such as the operation and leasing of projects with mixed functions, community activation and the development of sustainable projects with a wide range of functions and services.

Rivus Cluj Napoca Iulius 08

Cluj – The hottest retail hub in Romania
Cluj – The hottest retail hub in Romania 2560 1600 ROMANIA PROPERTY CLUB
Rivus Cluj Napoca Iulius 08

RIVUS – IULIUS, Cluj

With approximately 250,000 sqm under development and 75,000 sq m more in the pipeline, Cluj represents the most exciting retail hub on the Romanian market.

The most cityscape-changing investment is run by Iulius Group, one of the existing investors in shopping centers in the city. Rivus is a mixed-use development covering 14 ha that will bring 145,000 sq m of commercial space to Cluj, out of which 120,000 sq m are dedicated to a state-of-the-art shopping center. The project recently received a long-awaited Zonal Urban Planning permit, one of the key steps in securing a building permit; works will most likely break ground in 2025. The entire urban regeneration project will serve sophisticated shopping needs and will be the go-to destination for the community, due to its lush gardens and cultural and leisure areas. Moreover, the developer will create a promenade area to Somesul Mic River, which is currently inaccessible and unappealing, and enhance the urban mobility facilities. The concept design is signed by the Dutch UNStudio, renowned for landmark projects across the world.

Iulius is well acquainted with Cluj retail market, as Iulius Mall in Gheorgheni neighborhood has a history of 17 years and an offer which exceeds 240 stores, an entertaining food court, an Auchan hypermarket, and a 10-room movie theatre operated by Cinema City.

Another important, well-established player in Cluj is CPI Property Group, which owns VIVO! shopping center, the first modern mall in the city, serving both Cluj & Floresti, a 50,000-people village, part of the metropolitan area. The group has an extensive modernization process underway within the portfolio aimed at reconstruction, renovation, equipment and installation changes, but also a refresh of the tenant mix. Burger King has already inaugurated a new unit, while Primark will open next year.

Urbano Group is developing a second large-scale project that shall serve the needs of c.a. 80,000 people in immediate proximity and an extended catchment area of c.a. 400,000. The new retail park spanning 130,000 sq m gross built area is developed on 27 ha in two phases in Luna de Sus, a community part of the fast-growing Floresti metro area. One of the advantages of the project is the proximity to the A3 highway and DN1, which will represent a great entry point for county-wide shoppers. The developers recently appointed Nhood as an exclusive agent, one of the companies with an outstanding track record in urban regeneration (Coresi Brasov).

For each new apartment listed for rent there are three potential tenants. Marasti, Center, Manastur and Zorilor are the most wanted areas for rented apartments.

Other local and international developers are looking to shape the city as well. Local investor Hexagon Group is pending approval of a mixed-use development that features a commercial gallery. Prime Kapital is also pending for a PUZ for the former Cesarom platform, where the current master planning features a 75,000 sqm shopping center.

On the capital markets side, BT Asset Management recently bought a 9,000 sq m retail park, FunShop Turda. This is one of the first investments of the 2022 born fund with 32 million EUR assets under management.

The excitement for Cluj is understandable, as the city has been incredibly dynamic, attracting international companies and building national and international champions. Due to its appeal to the younger generation, the population of Cluj will likely increase, and the planned shopping schemes shall serve the city well for decades. Cluj registers the second-highest prime shopping center rents – 65EUR/sq m, after Bucharest (85 EUR/sq m). The prime yield for modern retail is 7.6%, which is a balanced take on the sustainability of the sector in the region.

Sorin Guttman Project Manager

SORIN GUTTMAN, Manager RIVUS

“Already at this stage, RIVUS reaches 50% leased area for the retail area, which will have 145,000 sqm. Far from being just a mall, RIVUS will bring many firsts to the region, through a concept that started from the community’s expectations and needs: the first performing arts center and the first performance hall integrated into a real estate project; the first Jumbo in Cluj – 8,000 sqm; entertainment centers for all ages, including the Hype Arena concept; the latest cinema technologies, for the first time in the region; fresh market; the largest bookstore in the country – 2,500 square meters; the most varied dining mix in the region, with over 30 restaurants and cafes; DIY anchor etc. In total, more than 400 brands, services and retail concepts, with many firsts in the fashion area. All this is supported by a mixed concept that has at its center a park of over 5.2 hectares, with the role of connection to the Someș river, accessible to the public through the urban reconversion project, which gives back to the city 14 hectares of former industrial platform in the form a lifestyle center.”

Transilvania Constructii Announces a New Warehouse in Trc Park Arad Starting with 2025

Transilvania Constructii Announces a New Warehouse in TRC Park Arad Starting with 2025
Transilvania Constructii Announces a New Warehouse in TRC Park Arad Starting with 2025 1920 1080 ROMANIA PROPERTY CLUB
Transilvania Constructii Announces a New Warehouse in Trc Park Arad Starting with 2025

In the spring of 2025, Transilvania Constructii will introduce a new modern Class A space to the market, located in TRC Park Arad, specifically designed to meet the high-performance and flexibility demands of the logistics and industrial sectors.

Warehouse A3 offers a total area of 4,710 sqm, divided into 4 modules ranging from 1,119 to 1,148 sqm, each including a dedicated 43 sqm office space.

Available for lease either in full or by individual modules, the space is ideal for companies seeking a cohesive and unified setup, with all operational components in a single location.

With direct access to Arad’s ring road and situated only 5 km from the city center, this modern facility is strategically positioned for businesses that require swift access to European markets.

For more details, please visit the link.

Kv Innovating Real Estate

BRCC x RPC – REAL ESTATE CONFERENCE 2024
BRCC x RPC – REAL ESTATE CONFERENCE 2024 1920 1080 ROMANIA PROPERTY CLUB
Kv Innovating Real Estate

The Romanian Diversity Chamber of Commerce (RDCC) and The British Romanian Chamber of Commerce (BRCC) are pleased to announce the Real Estate Conference 2024, set to take place on November 5th, 2024 at The Marmorosch Hotel in Bucharest.

This event will gather leading professionals, legal experts, and design innovators to explore the future of accessibility and inclusive design in the real estate sector. The conference is open to industry professionals, developers, architects, and anyone interested in the evolution of real estate towards a more inclusive future.

“The Real Estate Conference 2024 is a pivotal platform for fostering dialogue on the importance of accessible and inclusive design,” said Lestat Monroe, founder of the Romanian Diversity Chamber of Commerce. “As we look towards the future, it’s important that our real estate developments reflect the diverse needs of all community members. This conference will highlight the strategies, legal frameworks, and innovative designs necessary to create truly inclusive spaces.”

“This conference will serve as a key platform to explore new innovations shaping the real estate and construction industries, while also highlighting the critical importance of inclusivity. Attending the conference offers a great opportunity for industry professionals to come together, share expertise, and collaborate on building a more accessible and inclusive future.”, said Madalina Ciinaru – Head of British Romanian Chamber of Commerce, Bucharest Office

The key panel “Building the Future: Accessibility and Inclusive Design in Real Estate” will delve into the critical aspects of making real estate developments accessible for everyone.

More info about the event here: Innovating Real Estate and Construction: Trends and Inclusiveness | BRCC

Inaugurare Primark

Timisoara shopping spree
Timisoara shopping spree 2560 1707 ROMANIA PROPERTY CLUB
Inaugurare Primark

The modern retail stock in Timisoara remained stable in the past 12 months, given that the city has one of the highest retail densities nationwide and also reflecting investors’ and retailers’ trust in the long-term economic strength.

Prime rents for shopping center peaked at 55 EUR/ sq m, whereas retail parks rents ranged between 9 to 14 EUR/sq m, marking the city’s high cost for suitable development land.

Following the inauguration of Ikea from 2023 (first expansion outside Bucharest), in 2024 Primark enhanced the city’s attractiveness.

The retailer confirmed Timisoara’s robust and growing economy, by choosing the city as the second destination in Romania and executing a 10 million EUR investment. The tenant that generates high traffic due to its business model set grounds in one of the city’s most appealing shopping destinations – Iulius Town. An impressive mixed-use development, the town’s go-to destination in terms of enjoying modern amenities, Iulius Town represents a key meeting point in the city, due to the synergies generated by the compound. Thousands of white-collar workers are served 5 days a week through the 80,000 sqm office component and convention center, whereas, during the weekends locals enjoy the perks offered by outdoor meeting spaces created by Iulius Gardens. 102,000 sq m of shopping space, the second largest after Bucharest, responds to the needs of all residents and the nearby border population (Serbia, Hungary). In addition to the well-designed service point for the city, a clever asset management team keeps the community engaged through events such as the Street Food Festival, Leisure Sports Festival, racing, and influencer campaigns.

Bratuianu Cristina

“For Iulius Town, this year was very good, both in terms of new retailers, but especially in terms of the two relevant parameters in the industry, sales and traffic, increasing compared to 2023. We are also happy that, together with the major inaugurations of this year, as was Primark, in August, with the first store outside Bucharest, and Lefties of the Inditex Group, which will open, this autumn, the second Digital Store in Romania, Iulius Town has become the only shopping center that includes all the major fashion anchors present on the market in our country.”

“In recent years, our major concern has been to generate as many experiences as possible for the millions of customers who choose us. Now, we can say that we have a complete shopping center: the largest number of HORECA units and the largest food court in Romania, the best mix of sports shops, the largest diversity of experience and edutainment destinations – park, playground, cinema, fitness center, kindergarten and primary school -, and a medical hub with ultra-specialized services,” said Cristina Brătuianu, Development & Operational Retail Leasing Specialist, IULIUS

Shopping City Timisoara, the other large retail scheme in town, is spanning over 70,000 sq m GLA. The project was designed around complementary shopping needs (brought along a Dedeman big-box) and serves a large catchment area on the west and south sides of the city.

Increased residential development in recent years has created new opportunities for proximity retail formats: 40,000 sqm are under construction with delivery dates up to the end of 2025.

RETAIL PARKS UNDER DEVELOPMENT
PROJECT GLA SURFACE – SQM ESTIMATED INAUGURATION DATE
Esquire Commercial Timisoara, Strip Mall -Calea Torontalului 4,200 Q4 2025
Calea Torontalului Retail Park 4,495 Q2 2025
Prima Shops Lugoj 12,000 Q3 2025
Retail Park Sanandrei 9,000 Q4 2025
Max Village Sacalaz 9,000 Q4 2025
Centrul Comercial Cetatii Timisoara 2,500 Q4 2024
TOTAL SURFACE UNDER DEVELOPMENT 41,195

Source: Hitch & Mosher

The increase in average wages, coupled with a lower housing cost than the other regional poles, leads to a more generous disposable income that powers the retail space.

Intrior Of Shopping Mall

Novel retail & leisure concepts enter Brasov market
Novel retail & leisure concepts enter Brasov market 2560 1707 ROMANIA PROPERTY CLUB

15.04.2024

Intrior Of Shopping Mall

The Brasov retail market development has been steady, with a few notable new moves. A new retail park, built by Element Development, was added last year to the existing 170,000 sqm of modern stock, which is mainly anchored by the established schemes – AFI Brasov and Coresi Shopping Center (105,000 sq m combined GLA).

The largest retail area was developed on the former Tractorul platform, where Coresi shopping resort was inaugurated in 2015, spreading over 24 hectares.

The owner announced development plans, with a new retail hub comprising a 4,200 sqm Decathlon store, a 2,050 sqm Bebe Tei, 850 sqm Farmacia Tei and two large furniture stores Momaz and XXXLutz on 28,000 sqm and Mobexpert on 9,600 sqm.

Decathlon, Bebe Tei and Farmacia Tei are scheduled to open in 2024, while Momaz, XXXLutz and Mobexpert in 2025.

Flanco made the first step in implementing its new greenfield development strategy by acquiring a 5,000 sq m land plot in Brasov, to build a 1,500 sq m single-brand shop and supplement its presence in the region.

Remote work, which allows talent from anywhere to connect to a virtual delivery office also contributed to the slower take-up throughout the country. In Brasov, remote workers are served by co-working, such as The Business Factory located in Coresi. Raiffeisen Bank also offers a few co-working offices through its Hub1317 program.

Alexandrion Group announced plans to invest in a concept of shops and hotels, which is aimed at Romanians with incomes of 1,000-1,500 euros, who want to consume fine drinks, such as single malt, brandy, or rum, in the city, at affordable prices and to have entertainment, such as watching a football match or live music. Brasov is on their development plans.

Another notable addition is a large transaction represented by the signing of the fourth La Cocos store, a domestic discount supermarket. An anchor level of 10,000 sqm was signed at BRINTEX Discount Shopping Centers, located in the Bartolomeu area, a retail scheme that recently underwent an extensive refurbishment process.

A key development is the purchase made by Speedwell – the former Tino factory. The 17,600 sq m surface is currently under master planning, with the expectation of building a residential – retail mixed-use, coming to market in the medium to long term.

In terms of pipeline, Rara Group is considering a retail park in Ghimbav spanning over 15,000 sq m of land. While other retail parks were previously announced, the developers decided to cancel the projects for the time being.

The city still relies on the services and brands present in the two existing shopping centers.  AFI Mall spans over 45,000 sq m and was opened in 2020. It is located in a prime central area with long-term value for both residents and tourists.

The center hosts more than 350 shops and a good mix of international and local brands. Coresi Shopping Resort, a 60,000 sq m development, is part of a wide urban regeneration scheme and serves mixed-use residents and the wider Brasov population.

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