Altex, mömax acquire land near Bucharest from Cluj-based company in EUR 17 mln deal

Studium Green, a company from Cluj-Napoca specialized in real estate development, has completed the sale of several plots of land in Jilava, near Bucharest, to the Altex group and the furniture and home décor retailer mömax, part of the Austrian company XXXLutz. The total value of the transactions exceeds EUR 17 million.

The lands will be integrated into a larger lot owned by the Altex group and will form the basis for the development of the largest retail park in the southern part of Bucharest, the company said.

Studium Green remains part of the project for the development of the future commercial park, where it will develop HoReCa facilities. A further 23,000-square-meter plot owned by the real estate company in the park is currently being analyzed for complementary facilities.

“Together, we will create, just seven kilometers from downtown Bucharest, a commercial hub for the communities of Jilava, Măgurele, and the southern area of Bucharest. [...] The park will also integrate medical and educational services, as well as cultural and entertainment facilities, including aquatic ones,” stated Dorin Bob, owner of Studium Green.

The future retail park in Jilava will cover a total area of 200,000 square meters, making it the largest complex of its kind in southern Bucharest. The development will take place both on the land sold by Studium Green and on adjacent plots owned by Altex.

To ensure access to the future commercial park, Studium Green said it has already built, from its own funds, a roundabout.

(Photo source: press release)