Square 7 Properties has started the construction of a new retail park in Giurgiu, with a gross lettable area of 7,000 sqm.
The project is developed in partnership with the Belgian investment fund Mitiska REIM, while the general contractor of the project is the Austrian company Strabag.
“Given the favorable economic context of recent years, we see new opportunities in cities with population between 50,000-100,000 inhabitants, where there is a real need for modern shopping and suitable premises,” said Clemens Petschnikar, CEO of Square 7 Properties.
The retail project is planned for opening in the Q1 2023 and is fully leased. The anchor tenant is grocery retailer Lidl.
At present, Square 7 Properties is in the process of completing the expansion of the retail park in Slatina and in the process of authorizing two other new projects in Pitești and Mediaș. The three developments have a total area of around 35,000 sqm.