French developer invests EUR 10 mln in expanding mall in North-Western Romania

Ceetrus Romania, the local subsidiary of French real estate investor Ceetrus, the former Immochan, will invest EUR 10 million in expanding its shopping center in Satu Mare, North-Western Romania. The new shopping gallery will have an area of 9,000 sqm and will help the project increase its number of tenants from 24 to 40. The work on this expansion should be completed at the end of the third quarter of 2019, local Economica.net reported. Ceetrus bought last year a 7-hectare land plot next to the shopping center for EUR 1.5 million. The developer will use 10,000 sqm for the mall expansion and some 5 hectares for a new residential project. The new strip mall will have 1,450 sqm dedicated to sports equipment and activities, 2,000 sqm for home&décor, 1,000 sqm for creative activities, an amphitheater, an outdoor scene and an exhibition space for local artisans. It will also add a restaurant area and a cinema with five screens. editor@romania-insider.com