French developer Catinvest completes EUR 40 mln investment in Electroputere Parc

French developer Catinvest has completed another building of its Electroputere Parc mixed-use project in Craiova, southern Romania. The new facility offers 12,700 sqm of class A offices and retail spaces and has required an investment of over EUR 40 million.

With this new extension, the West Wing of Electroputere Parc has the capacity to accommodate a total of approximately 2,000 employees in the Class A office spaces.

The new offices are already leased by tenants like Ubisoft, the French leader in the video gaming industry, and Operative Media, while the offices opened at the end of last year are occupied by Hella, a German multinational leader in automotive. Overall, the occupancy rate of the offices in both buildings is over 65% and is expected to increase rapidly.

“At Catinvest, our goal is to constantly develop Electroputere Parc, offering local businesses and residents an extremely well-positioned and very accessible hub for working and shopping,” said Jibril Semour, General Manager of Catinvest Eastern Europe.

He added: “Despite the challenging times we are all still facing due to the pandemic, we are seeing significant interest from retail tenants as well as offices, driven by people’s and business’ need to return to normal as soon as possible.”

Catinvest is also working on expanding the Electroputere Mall, a project that should be completed by March 2022. This will bring around 5,500 additional sqm GLA of retail and 1,000 sqm of outdoor terrace for restaurants.

Further development plans include additional retail, offices and other services such as co-working spaces and aparthotels with a total investment budget of almost EUR 60 million over the next 2-3 years.

Besides the Electroputere project, Catinvest owns the Carrefour Orhideea and Cora Pantelimon shopping centers in Bucharest and Carrefour TOM in Constanta.

(Photo source: the company)