Developer of Coloseum mall in Bucharest gets EUR 23 mln loan for expansion

The developer of the Colosseum Centre shopping center in North-West Bucharest has secured a EUR 23 million loan from Credit Europe Bank for financing the ongoing expansion.

The expansion phase consists of a shopping mall with fashion, leisure and food brands, which will be added to the existing Carrefour hypermarket and Leroy Merlin do-it-yourself store. The total investment in the shopping mall will reach EUR 30 million. JLL Romania has advised the developer in obtaining the funding.

“Our project enters now the final straight to completion. We are glad to have beside us partners such us Credit Europe Bank and JLL Romania, which allows the fulfillment of our business goals”, said Mihai Dinu, general manager of Colosseum Mall.

As a result of the current expansion, Colosseum Centre will reach a total gross leasable area of 54,500 of retail space. The leasing progress is well advanced with over 80% of the retail units now signed or committed to tenants.

The new tenants include CCC, New Yorker, Colin’s, Diverta, Noriel, DM Drogerie Markt, Happy Cinema, World Class, Gregory’s, Café Ritazza. They will be joining the already present retailers in the centre that has been open since 2011, such as: Carrefour hypermarket, Leroy Merlin DIY, Altex, JYSK, LC Waikiki, Sport Vision, Pepco and many others. The expansion of the shopping mall began in December 2018 and will be ready for opening in 2020.

(Photo courtesy of the company)