CEC Bank grants EUR 36 mln financing to Veranda Mall in Bucharest

CEC Bank has extended a EUR 36 million financing facility to Veranda Obor SA, the owner of Veranda Mall in Bucharest, to refinance existing debt, support development plans, and enable capital distributions to shareholders for the first time.

Veranda Mall has maintained an occupancy rate close to 100% and reported steady traffic growth, reinforcing its position as an urban proximity shopping center serving the Obor area, according to the bank.

“We particularly appreciate the strong collaboration with CEC Bank, a strategic partner that has stood by us since 2018, supporting our expansion and modernization project,” said Alexandru Duduman, CFO of Veranda Mall.

“The fact that this refinancing was obtained under extremely competitive conditions, after receiving multiple financing offers from the market, underscores the undeniable quality of the Veranda Mall project in the current economic context. At the same time, we believe this is the right moment for shareholders to truly benefit from the shopping center’s excellent performance through the share buyback program supported by this credit facility,” he added.

Part of the financing will be directed toward further investments in the mall’s development and property optimization strategy.

Retailers at the shopping center reported sales growth of over 5% in 2025. At the company level, rental income is on an upward trend, with estimated turnover for 2025 exceeding RON 50 million, more than 10% higher than the previous year.

Opened in October 2016 and expanded in 2019, Veranda Mall was developed by the Pogonaru family together with Evergent Investments through Professional Imo Partners SA. The center offers approximately 34,500 square meters of leasable space and includes major tenants such as Carrefour, H&M, C&A, Decathlon, World Class, Cinemax, LC Waikiki, Sinsay, and Dr. Max, alongside food and service operators.

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