Romanian developer takes EUR 9 mln loan from OTP for retail park in Sibiu

Romanian real estate developer Oasis Retail Development & Consulting contracted a EUR 9 million loan from OTP Bank to develop the Prima Shops retail park in Sibiu.

The first phase of the retail park built by Oasis Group in the northern part of Sibiu will have a rentable area of 9,000 sqm, distributed in 11 retail units.

The financing granted by OTP Bank represents 75% of the total investment.

The project will be commissioned in August 2021, and the opening to the public will take place in October 2021. In the next phase, the developer will add several retail stores as well as service spaces and more restaurants.

The Prima Shopping Center Sibiu project will have a total surface area of 60,000 sqm and will be one of the largest retail park projects in the west of the country.

(Photo courtesy of OTP)