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New Cora shopping center in Romania’s coastal city Constanta to open in summer, already 80% leased

A new Cora hypermarket and shopping center complex is to open this summer in Constanta, according to leasing agent CBRE. Total investment in the shopping center will reach EUR 58 million and as well as the supermarket, the site will host some 50 shops. The available space is already 80 percent leased, according to CBRE.

Some of confirmed tenants for the shopping center include Takko, CCC, Jolidon, Casa Rusu, Altex, Zoomania, Maxbet, Helpnet, Arsis, Germanos, Orange.

The new center, which was announced in 2011, will be called Corall. Work on the project started in the spring of 2012. The opening was initially set for June 2013, but, there were reports that the shopping center could open earlier, in spring this year. The latest announcement from CBRE suggests that the opening date will be closer to the original June 2013 date.

Back in 2011, the developers announced that the project would include an 8,500 sqm hypermarket, a 25,000 sqm shopping galleria, a cinema and a food court area, under an investment of EUR 100 million. Corall will be the fifth shopping center in Constanta, competing against Maritimo, Tom, City Park and Tomis.

Cora has similar projects lined up for Brasov and Bacau, with similar investment values. In November 2012, Cora opened its fourth hypermarket in Bucharest, on Soseaua Alexandriei, in the south west region of the city. The retailer invested some EUR 47 million in this new store, which covers 53,000 sqm.

Cora plans to open two more hypermarkets in 2013, in Constanta and Slobozia, and two more in 2014, in Brasov and Ploiesti. Over the long term, it hopes to open up to 20 stores within five to eight years.

editor@romania-insider.com