Shopping City Sibiu, Romania - 35,000 sq m extension

21 Jul, 2008, Romania

The 35,000 sq m extension of Shopping City Sibiu in the Romanian city of Sibiu is on track to open in November this year, with Cushman & Wakefield Activ Consulting, the Romanian office of global real estate consultant Cushman & Wakefield, acting as exclusive letting agent.

Shopping City Sibiu, a retail park development by London-based property developer Argo Real Estate Opportunities Fund, will offer a total of 85,000 sq m of leaseable space once the ?34mn extension is completed.

The extension includes, among other retail names, a 12,000 sq m Carrefour hypermarket a 7,740 sq m Mobexpert furniture store, a 3,000 sq m extension to the Promenada Mall, a 1,000 sq m Flanco World and a 1,200 sq m Proges store.

The extension will position Shopping City Sibiu as one of the most high-profile retail schemes in Romania, with two hypermarkets, Real and Carrefour; two furniture stores, Mobexpert and Mobilia; two electronic goods operators, Media Galaxy and Flanco, one DIY operator, Baumax; and one expanded shopping mall, Promenada Mall. Other tenants include Hervis Sport, Takko Fashion, Deichmann and New Yorker.

Michael Gingrich, Regional Asset Manager for Argo, says: "The expansion of Shopping City Sibiu will be a great addition to the current retail park, and it gives customers their entire shopping needs in one destination. We believe that the entire centre will benefit from the expansion, as several great retailers are added to the strong existing mix of national and international tenants. This will definitely consolidate the retail options in the city of Sibiu for some time."

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